India: JSW Cement has received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO) after a four-month hold-up since September 2024. The IPO includes a fresh issue of shares worth US$230m and an offer for sale by three shareholders, Apollo Global Management, Synergy Capital and State Bank of India (SBI), worth US$230m combined.
Proceeds from the fresh issue will include US$92.3m for a new cement unit in Nagaur, Rajasthan, and US$83m for debt repayment.
