Apollo Global, Synergy Fund may invest Rs 1,500 crore in JSW Cement

Apollo Global, Synergy Fund may invest Rs 1,500 crore in JSW Cement
SECTIONS
Share
Synopsis
The company will issue compulsorily convertible preference shares (CCPS) to the investors, who will put in ₹750 crore each at a post-money valuation of around ₹8,500-₹8,750 crore.
Agencies
Apollo Global Management is doubling down on Sajjan Jindal led JSW Group, joining Synergy Metals Investments for a Rs 1500 crore capital raise in the conglomerate’s cement business run by his son Parth, to fund its growth plans to become a 25 million tonnes scaled operations, said people in the know.
The capital raise coincides with an uptick in demand from real estate and construction after lockdown resulting in most cement stocks outperform the Nifty over the past month and past year.

Related Keywords

Karnataka ,India ,Nandyal ,Andhra Pradesh ,Sudhir Maheshwari ,Citibank ,Competition Commission Of India On ,Apollo Global Management ,Dubai Based Synergy Metals Investments ,Sajjan Jindal Led ,Competition Commission ,West Bengal ,கர்நாடகா ,இந்தியா ,நந்தியல் ,ஆந்திரா பிரதேஷ் ,ஸௌட்ஶ்ர் மகேஸ்வரி ,சிட்டி வங்கி ,போட்டி தரகு ஆஃப் இந்தியா ஆன் ,அப்பல்லோ உலகளாவிய மேலாண்மை ,சஜ்ஜன் ஜிண்டால் வழிநடத்தியது ,போட்டி தரகு ,மேற்கு பெங்கல் ,