Apollo Global, Synergy Fund may invest Rs.1,500-Cr in JSW Cement

Alternative asset manager Apollo Global Management and Dubai-based Synergy Metals Investments are set to invest INR 1,500 crore in Sajjan Jindal-led JSW Group's cement business run by his son Parth Jindal, as it seeks to scale up capacity to 25 million tonnes a year. The company will issue compulsorily convertible preference shares (CCPS) to the investors, who will put in INR 750 crore each at a post-money valuation of INR 8,500-8,750 crore.