Pursuant to Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Monitoring Agency Report towards utilization of proceeds of the Initial Public Offer for the quarter ended 31st March, 2026, issued by Crisil Ratings Limited, Monitoring Agency.
JSWCEMENT · price
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JSW Cement has deployed Rs 12,786.60 crore (80%) of its Rs 16,000 crore IPO proceeds as of March 31, 2026. The debt repayment of Rs 5,200 crore is fully completed. Rs 6,258 crore has been deployed for the Nagaur, Rajasthan integrated cement plant out of Rs 8,000 crore allocated, with Rs 1,742 crore remaining. General corporate purposes utilization stands at Rs 908 crore out of Rs 2,268 crore. The company reports a delay in implementation schedule for FY2026 (utilized Rs 7,166 crore vs planned Rs 8,250 crore) due to delayed vendor invoices. The Rs 3,213 crore unutilized funds are parked in fixed deposits with IndusInd Bank and Yes Bank, plus balances in monitoring and public offer accounts.
The IPO proceeds are being deployed largely on schedule with no major deviations reported. The minor delay in Nagaur plant construction is explained by vendor invoice delays and the company has clarified funds will be utilized in FY2027. Debt repayment completion is a positive sign for balance sheet strength.