JSW Cement delays IPO plans

India’s JSW Cement has pushed back its plans for an initial public offering (IPO) to December 2022, as a result of the slowdown and disruption caused by COVID-19.

The company had already generated a plan to expand its combined cement capacity to 25Mta by 2023 at an investment of INR36bn (US$486.86m).

"In 2019, the sector had degrowth, in 2020 COVID hit us. Now December 2022 is a logical timeline for us for the IPO," said Parth Jindal, managing director.