JSW Energy also announced the commissioning of a second 80 MW unit of its 240 MW Kutehr Hydroelectric Power Plant
JSW Group shares are on investors’ radar ahead of the initial public offering (IPO) of JSW Cement. JSW Energy shares have risen 5% in the last month.
Beyond the fundraising, what’s catching market attention is the strategic overlap between the group’s energy and cement arms, noted Sanyam Vaish, a SEBI-registered analyst at Finpire Capital Research.
JSW Energy supplies renewable power to JSW Cement plants, forming a vertically integrated, ESG-aligned model, a sweet spot for investors looking for green infrastructure plays, Vaish said.
The convergence of clean energy and infrastructure is a hot topic in 2025 and could offer a compelling opportunity for investors, he added.
While JSW Energy has corrected over 30% from its 2024 highs, the pullback may be setting the stage for a potential rebound, especially if the JSW Cement IPO triggers a broader group re-rating, according to Vaish.
JSW Cement IPO Watch
The cement-making unit has set the price band at ₹139 to ₹147 per share for its ₹3,600 crore IPO, with each share carrying a face value of ₹10. The issue opens for subscription on August 7, and investors can bid in a minimum lot size of 102 shares.
The IPO will open for subscription on August 7 and close on August 11. The allotment is likely to be finalized on August 12, with the shares expected to list on the primary indices on August 14.
According to reports, JSW Cement promoters’ shareholding will be trimmed from 78.61% to 72.33% post the IPO.
JSW Energy Commissions 160 MW at Kutehr Hydroelectric Project
In other news developments, JSW Energy has commissioned the second 80 MW unit of its 240 MW (3×80 MW) Kutehr Hydroelectric Power Plant in Himachal Pradesh, it said in a press release dated August 6. This brings the operational capacity to 160 MW.
The company had commissioned the first 80 MW unit over the weekend as part of a long-term power purchase agreement (PPA) with Haryana Power Purchase Centre (HPPC).
The Kutehr project is among the fastest-built greenfield hydro projects in India and will supply electricity to Uttar Haryana Bijli Vitran Nigam and Dakshin Haryana Bijli Vitran Nigam.
JSW Energy was trading 1.3% lower at ₹530.55 at the time of writing. Its year-to-date losses stand at over 17%.
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