At the current market price, the value of shares that will be freed up for trading amounts to ₹553 crore.
It must be mentioned that the ending of the shareholder lock-in does not mean that all those shares will be sold in the open market, but they only get eligible to be traded.
JSW Cement debuted on August 14 at a 4% premium to its issue price of ₹147, opening at ₹153 on BSE and touching ₹154.70, valuing the company at ₹20,914 crore.For JSW Cement Managing Director Parth Jindal, the market entry marks the start of an ambitious climb. “If I want to continue living with my father, I will have to take this company to top 2 in the industry,” he quipped at the listing ceremony.
Jindal recalled how his journey with the cement business began in 2013, before business school, when his father gave him the opportunity to visit the Hyderabad office of JSW Cement to learn first-hand how cement is made.
“What started off as a business to consume slag has now become a top cement company,” he said, adding that post-listing, JSW Cement will rank as the seventh-largest cement company by market capitalisation.
“But as a JSW company, we have to be in the top two of the industry,” he said.
Shares of JSW Cement Ltd. settled 1.11% lower on Friday at ₹150.60.
