JSW Infrastructure IPO Subscribed 25% on Day 1

JSW Infrastructure IPO Subscribed 25% on Day 1. Image/Mint
JSW Infrastructure IPO Subscribed 25% on Day 1. Image/Mint
JSW Infrastructure IPO Subscribed 25% on Day 1. Image/Mint
JSW Infrastructure IPO Subscribed 25% on Day 1. Image/Mint

JSW Infrastructure IPO Subscribed 25% on Day 1

JSW Infrastructure IPO Subscribed 25% on Day 1

On the first day of its subscription, JSW Infrastructure IPO has seen a 25% subscription rate. The IPO, which opened on Monday, September 25, is set to close on Wednesday, September 27. The price band for the public offer is fixed at ₹113 to ₹119 per share, and investors can bid for a minimum of 126 equity shares and in multiples of 126 equity shares thereafter.

As of 14:42 IST, the IPO has received bids for 3,42,74,142 shares against 13,62,83,186 shares on offer, according to BSE data. The retail investors’ portion of the IPO received bids for 97% of the shares on offer, while the non-institutional investors’ portion received bids for 27% of the shares available. However, the Qualified Institutional Buyers (QIBs) portion did not receive much response, with only 29,232 shares bid against 7,43,36,284 on offer.

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JSW Infrastructure IPO Details:

  • The IPO comprises a fresh issuance of ₹2,800 crore worth of shares, with no offer for sale (OFS) component.
  • The company plans to use the net proceeds from the offering to invest in its fully owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd., to prepay or repay outstanding borrowings.
  • It also intends to finance capital expenditure requirements through investment in its wholly owned subsidiary, JSW Jaigarh Port Ltd., for proposed expansion/upgradation works at Jaigarh Port.

Book Running Lead Managers to the Offer:

  • JM Financial Ltd
  • Axis Capital Ltd
  • Credit Suisse Securities (India) Private Ltd
  • DAM Capital Advisors Ltd
  • HSBC Securities and Capital Markets (India) Private Ltd
  • ICICI Securities Ltd
  • Kotak Mahindra Capital Company Ltd
  • SBI Capital Market Ltd

Registrar:

  • KFin Technologies Ltd

Grey Market Premium (GMP):

  • The grey market premium for JSW Infrastructure IPO is +18, indicating that shares are trading at a premium of ₹18 in the grey market. This suggests an estimated listing price of ₹137 apiece, which is 15.13% higher than the IPO price of ₹119.

The IPO market in India continues to be active, with JSW Infrastructure’s offering attracting investor interest on its opening day.

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