Business: Sajjan Jindal's JSW Group has suffered a major setback. Stock market regulator SEBI has put JSW Cement's Rs 4000 crore IPO on hold. SEBI has not given a clear reason for holding JSW Cement's IPO. The regulator has only said that the draft proposal documents in respect of which the continuation of opinion has been postponed.  

JSW Cement was preparing to raise funds through both issuing new shares and offer for sale in IPO (Initial Public Offering). In August 2024, the company had submitted draft papers with the regulator to get approval for the IPO. With the money raised in the IPO, the company was preparing to invest in the cement unit being built in Nagaur, Rajasthan. Also, the money raised through the IPO was aimed at repaying the debt and was to be used for general corporate purposes.  
 

JSW Cement is aiming to have a production capacity of 60 million tonnes, for which it is very important for JSW Cement to be listed on the stock market. Currently, the company's production capacity is 20.60 million tonnes per annum (MTPA). At present, the company is present in the southern, eastern and western states of the country. But now it also wants to make a place in North and Central India. For this, the company is going to set up a greenfield cement plant in Nagaur, Rajasthan. JSW Cement had raised Rs 1500 crore from private equity investors Apollo Global Management and Synergy Metals Investments Holding in July 2021. 

Last year, the group's infrastructure company, JSW Infrastructure, came up with an IPO in the stock market and was listed on the stock exchange. The company has given strong returns to investors who invested in the IPO.