Apollo Global Management is doubling down on Sajjan Jindal led JSW Group, joining Synergy Metals Investments for a Rs. 1500 crore capital raise in the conglomerate’s cement business run by his son Parth, to fund its growth plans to become a 25 million tonnes scaled operations, said people in the know.
The capital raise coincides with an uptick in demand from real estate and construction after lockdown resulting in most cement stocks outperform the Nifty over the past month and past year.
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