“To be a part of the JSW Group, we are not allowed to be in the top five or the top 10. If I have to have a bed in my house where I stay with my father then I have to dream to be in the top two,” he said.
JSW Steel, the flagship company of the Sajjan Jindal-owned JSW Group, is currently the largest producer of steel in the country.
Shares of JSW Cement listed at an over 4% premium to its issue price of Rs 147. After touching an intraday high of Rs 154.70, the shares ended 0.9% lower at Rs 146.05 apiece on the BSE.
The company had a market capitalisation of Rs 19,911 crore as on Thursday. It is currently the ninth largest producer of cement in the country with the capacity to produce 20.60 million tonnes of cement annually.
UltraTech Cement is the market leader, followed by Adani Cement in the world’s second largest market for the building material. The two players together account for nearly half of the country’s production capacity.