$JSWCEMENT

AP Asia Opportunistic Holdings, indirectly owned by US-based private equity giant Apollo Global Management, sold a 3.4 percent stake in JSW Cement through open market transactions on May 22. Meanwhile, Madison India divested nearly 2.2 percent stake in Pine Labs via block deals. Shares of JSW Cement witnessed their sharpest single-day gain since listing on August 11, 2025, climbing 8.26 percent to close at Rs 137.99 on the National Stock Exchange on Friday. In contrast, Pine Labs shares hit a record low, ending 3.69 percent lower at Rs 142.84 amid heavy trading volumes. AP Asia Opportunistic Holdings Pte sold 4.58 crore equity shares, representing a 3.36 percent stake in JSW Cement, for Rs 568.14 crore. As of March 2026, the Apollo Global Management subsidiary held 4.64 crore shares, or a 3.4 percent stake, in the cement maker. Among the buyers, ICICI Prudential Mutual Fund emerged as the largest investor, acquiring 1.19 crore shares worth Rs 148.5 crore. India Acorn ICAV purchased 97.5 lakh shares valued at Rs 120.9 crore, while SBI Mutual Fund bought 67 lakh shares for Rs 83.08 crore. Amundi Funds Equity India also acquired 40 lakh shares worth Rs 49.6 crore.