MUMBAI: JSW Cement has said its IPO (initial public offer) plan is being pushed back by a year as its capacity expansion plans too have been pushed back. The IPO will happen only after the company hits 20 million tonnes capacity, Parth Jindal, Managing Director, told reporters on Wednesday.
It will take a year from December 2020, by when it plans to hit the 20 million tonnes capacity in the first phase of expansion. It has plans to further lift capacity to 25 million tonnes by 2023 to take it to the top five cement producers’ list in the country. Currently JSW is the ninth largest cement producer, with a capacity of 14 million tonnes.
“Any inorganic growth (in capacity addition) will be above the 25 million tonnes target,” Jindal said. Total capex for the capacity addition would be around Rs 2,875 crore.