The Securities and Exchange Board of India (SEBI) has halted JSW Cement's Rs 4,000 crore IPO without providing specific reasons.
JSW Cement, a part of the JSW Group, planned to use the funds for a new cement unit in Nagaur, debt repayment, and general corporate purposes. Meanwhile, SEBI has approved IPOs for three other companies: SK Finance, Belstar Microfinance, and Transrail Lighting. SK Finance aims to raise Rs 2,200 crore, Belstar Rs 1,300 crore, and Transrail Lighting's IPO includes a fresh issue worth Rs 450 crore.