JSW Cement to raise Rs 1,500 cr from two global PE firms
29 Jul 2021
2 Min Read
CW Team
Sajjan Jindal-led JSW Cement has entered into an agreement to raise Rs 1,500 crore from two global private equity investors, Synergy Metals Investments Holding and Apollo Global Management.
The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being allotted to the investors, and the conversion of such CCPS into common equity of the company will be connected to the company鈥檚 future performance and valuation defined at the time of the initial public offering.
Nilesh Narwekar, Chief executive officer, JSW Cement, told the media that the company would use this investment to grow organically and inorganically. JSW plans to enter key new geographies and increase their share in their existing markets. With new initiatives over their plants and functions, they are prepared to proceed to create and play a vital role in the core infrastructure growth of the nation.
This investment will support JSW Cement expedite its capacity development from the current 14 million tonne to 25 million tonne.
Recently, the Competition Commission of India allowed the transaction by Synergy Metals Investment Holding Ltd. Apollo鈥檚 transaction is subject to customary closing provisions comprising regulatory approval.
Synergy Metals and Mining Fund, the parent entity of Synergy Metals Investments Holding, is a specialised private equity fund investing in the metals, power and industrial sectors worldwide.
Apollo Global Management is a leading global alternative asset manager having assets under management of around $461 billion as of March 31, 2021. The company's hybrid value business offers flexible, tailored equity and debt capital solutions to private and public firms.
Citigroup Global Markets India served as an exclusive placement agent on this transaction for JSW Cement.
Also read: JSW Cement forays into construction chemicals
Also read: JSW cement forays into ready mix concrete business
Sajjan Jindal-led JSW Cement has entered into an agreement to raise Rs 1,500 crore from two global private equity investors, Synergy Metals Investments Holding and Apollo Global Management.
The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being allotted to the investors, and the conversion of such CCPS into common equity of the company will be connected to the company鈥檚 future performance and valuation defined at the time of the initial public offering.
Nilesh Narwekar, Chief executive officer, JSW Cement, told the media that the company would use this investment to grow organically and inorganically. JSW plans to enter key new geographies and increase their share in their existing markets. With new initiatives over their plants and functions, they are prepared to proceed to create and play a vital role in the core infrastructure growth of the nation.
This investment will support JSW Cement expedite its capacity development from the current 14 million tonne to 25 million tonne.
Recently, the Competition Commission of India allowed the transaction by Synergy Metals Investment Holding Ltd. Apollo鈥檚 transaction is subject to customary closing provisions comprising regulatory approval.
Synergy Metals and Mining Fund, the parent entity of Synergy Metals Investments Holding, is a specialised private equity fund investing in the metals, power and industrial sectors worldwide.
Apollo Global Management is a leading global alternative asset manager having assets under management of around $461 billion as of March 31, 2021. The company's hybrid value business offers flexible, tailored equity and debt capital solutions to private and public firms.
Citigroup Global Markets India served as an exclusive placement agent on this transaction for JSW Cement.
Image Source
Also read: JSW Cement forays into construction chemicals
Also read: JSW cement forays into ready mix concrete business
Next Story
Mumbai-Ahmedabad Bullet Train Set to Launch by 2028
India鈥檚 first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India鈥檚 infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..
Next Story
Mumbai-Gandhinagar Train Service Enhances Passenger Capacity
The Mumbai Central鈥揋andhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India鈥檚 busiest business corridors. This upgrade, effective from 11 May, raised the train鈥檚 seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai鈥揂hmedabad鈥揋andhinagar route, which regularly operates at over 150 percent seat occupancy...
Next Story
Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently
Delhi鈥檚 ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river鈥檚 health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..
