Jindal Steel Works (JSW) could come up with a public issue targeting Rs Rs 45,000 crores by 2020. JSW's CEO Nilesh Narwekar was quoted as saying in a PTI story that by the time of the IPO, the company was targeting a valuation of Rs 18000 crores and its promoters planned to dilute 25% of their holdings.
The company is planning an aggressive plan to increase annual installed capacity from 12.8 MMT to 14 MMT in 2019 and 20 MMT by 2020.
Narwekar, bullish on the cement consumption, was quoted as saying that the IPO could unlock the real value of the cement business. Narwekar also added that the company's second quarter volume growth of 63% was higher against the industry average of 22%. The IPO is expected to also fuel the company's production capacity.
The JSW Group has interests in the areas of Steel, Energy, Infrastructure, Cement, and other ventures. Jindal Steel and Power Ltd is already a listed company with shares being traded on the Bombay Stock Exchange and National Stock Exchange.