India: JSW Cement to go public by FY19

Parth Jindal, managing director of JSW Cement, has told the Deccan Herald newspaper that his company will issue its first public shares when it reaches 20Mta capacity.

“We will go for IPO once we reach a capacity of 20Mt. Right now, we have a production capacity of 7Mt, and plan to reach 30m by 2020.

 “JSW Cement would like to achieve 17m capacity by opening up eight grinding units across the country. This will require an investment of INR27bn [US$405m].

“The company can achieve the 30m capacity mark, by opening up new clinkerising units which might require a capex of INR100bn”, Jindal said.

JSW is planning to open new plants in Salboni, Vijayanagar, Dolvi, Mangaluru and Salem.

Questioned on the company’s revenue plans, Jindal stated that he expected that these would rise by around 40 per cent this year compared to the last, reaching INR19-20bn.