JSW Cement, a unit of the diverse JSW Group promoted by Sajjan Jindal, is set to introduce its initial public issue (IPO) of Rs 3,600 crore on August 7. However, according to the recent draft of the documents, the total size of this issue is lower than the first proposed issue of Rs 4,000 crore. According to RHP filed on Friday, the IPO will open for public subscription on August 7 and will close on August 11. Anchor (big) investors will be able to bid on August 6.

Initial share sales include a new issue of equity shares worth Rs 1,600 crore and sales offers of shares up to Rs 2,000 crore by investor shareholders. As a part of OFS, private equity giant Apollo Management, will sell shares worth Rs 931.80 crore, through its colleague AP Asia Opportunistic Holdings Private Limited. Synergy Metals Investments Holding Limited will sell shares worth Rs 938.50 crore and State Bank of India (SBI) will undertake shares worth Rs 129.70 crore.

According to the draft documents, the company will use an amount of Rs 800 crore for partial financing of a new integrated cement unit in Nagaur, Rajasthan and for prior payment or repayment of Rs 520 crore outstanding loans. The remaining amount will be used for general corporate purposes. The Mumbai -based company had planned to raise Rs 4,000 crore earlier. However, according to the latest documents, the amount of capital raising from the new issue has been cut by Rs 400 crore.