June 22, 2024

Volumes within the counter additionally shot up as 22 lakh shares modified fingers, considerably larger than the one-month each day traded common.

Shares of Shiva Cement soared 18.5 % on January 11 amid studies of its father or mother firm, JSW Cement’s plans for a mega Rs 6,000-crore preliminary public providing.

Moneycontrol was the primary to report citing a number of sources on January 10, that the JSW Group has roped in funding bankers to facilitate the preliminary public providing of its group firm JSW Cement.

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“As of now, the goal is to boost as much as Rs 6,000 crore, mop up progress capital and fund the corporate’s aggressive growth plans,” one of many sources stated. The supply additionally added {that a} closing resolution on the dimensions of the share sale had not been made but.

Buoyed by the information of a potential IPO for its father or mother firm, at 12.27 pm, shares of Shiva Cement have been buying and selling practically 16 % larger at Rs 59.75 on the NSE regardless of coming off its day’s excessive.

Volumes within the counter additionally shot up as 22 lakh shares modified fingers, considerably larger than the one-month each day traded common of two lakh shares.

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If JSW Cement’s itemizing plans come to fruition, it might grow to be the biggest IPO within the cement sector for the reason that Nirma group-backed Nuvoco Vistas’ Rs 5,000 crore IPO in August 2021.

The plan to record JSW Cement, additionally comes after the current itemizing of JSW Infrastructure, which marked the group’s first public providing in 13 years.

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Additionally Learn | Unique: Submit JSW Infra itemizing, now JSW Cement picks bankers and kicks off mega Rs 6,000-cr IPO

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