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State Bank of India acquired minority stake in JSW Cement for INR 100 crore

State Bank of India acquired minority stake in JSW Cement for INR 100 crore

State Bank of India(SBI) acquired a minority stake (less than 50 percent) in JSW Cement Limited for an investment of INR 100 crore through Compulsory Convertible Preference Shares (CCPS). The public sector bank has invested in the company, a part of the $13 billion JSW Group, via compulsorily convertible preference shares (CCPS). The conversion of such CCPS into common equity will be linked to the company’s future business performance and valuation determined at the time of the proposed initial public offering. 

The SBI transaction with JSW Cement comes close on the heels of the ₹1,500 crore investments made by two global private equity investors, Apollo Global Management Inc. (through its investment entity in Singapore) and Synergy Metals Investments Holding Ltd in JSW Cement earlier this year.

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