JSW Cement has purchased a minority share from the State Bank of India (SBI). The public sector banking behemoth has made a Rs 100 crore investment in the company through compulsorily convertible preference shares (CCPS).
The company’s future business success and valuation will be tied to the conversion of such CCPS into common equity at the time of the proposed first public offering.
JSW Cement’s capacity will be increased from 14 mtpa to 25 mtpa as a result of this capital investment.
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