The State Bank of India has invested Rs 100 crore to acquire a minority stake in JSW Cement.
As per a statement by JSW Cement, the conversion of such CCPS into common equity of the company will be linked to the company’s future business performance and valuation determined at the time of the proposed initial public offering. This capital infusion will support JSW Cement’s capacity expansion from the current 14 mtpa to 25 mtpa.
SBI’s transaction with JSW Cement follows the Rs 1,500-crore investments made this year by two global private equity investors – Apollo Global Management Inc and Synergy Metals Investments Holding.
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