Apollo, Synergy & SBI sell shares in JSW Cement’s Rs.3,600-Cr IPO

Mumbai-headquartered JSW Cement ’s initial public offering (IPO) was subscribed 8 times. The price per share was set between INR 139 and INR 147. Qualified Institutional Buyers (QIBs) booked 16 times, Retail Individual Investors 1.8 times, and Non-Institutional Investors (NIIs) 11 times.The IPO consists of a fresh issue of INR 1,600 crore and an offer for sale (OFS) worth INR 2,000 crore. In the OFS segment, private equity firm Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, alongside Synergy Metals Investments Holding Ltd and the State Bank of India (SBI), sold shares.JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets are the book-running managers to the issue.