JSW Infrastructure IPO: 43% subscription on day 1

JSW Infrastructure IPO: 43% subscription on day 1

The much-anticipated JSW Infrastructure IPO has kicked off with a promising start, reaching a subscription rate of 43% on its very first day. This IPO, which became available for subscription on Monday, September 25, is set to conclude on Wednesday, September 27. Investors are keenly eyeing this opportunity, with the IPO’s price band set at ₹113 to ₹119 per share. Potential investors can place bids for a minimum of 126 equity shares, with the option to increase their stake in multiples of 126 equity shares thereafter.

JSW Infra IPO Receives Robust Response from Investors

The subscription status of the JSW Infrastructure IPO is already making headlines. Retail investors have shown exceptional interest, subscribing to 1.38 times the allotted shares for their segment. Meanwhile, the Non-Institutional Investors (NII) category reached a subscription rate of 60%, reflecting strong demand among high-net-worth individuals. The Qualified Institutional Buyers (QIBs) segment, catering to institutional investors, witnessed an impressive subscription rate of 3%.

JSW Infrastructure IPO Subscription Status

According to data from the Bombay Stock Exchange (BSE), the JSW Infrastructure IPO has garnered bids for an impressive 5,82,98,058 shares against the total offering of 13,62,83,186 shares.

  • Retail investors have placed bids for 3,41,53,560 shares, surpassing the available 2,47,78,761 shares allocated to them.
  • Non-institutional investors have shown strong interest, with bids totaling 2,21,82,426 shares against the 3,71,68,141 shares available for this segment.
  • Qualified Institutional Buyers (QIBs) have bid for 19,62,072 shares, a notable response considering the available 7,43,36,284 shares in this category.

JSW Infrastructure IPO Details

The JSW Infrastructure IPO comprises a fresh issuance of ₹2,800 crore worth of shares, with no offer for sale (OFS) component. As outlined in the Red Herring Prospectus (RHP), the company intends to utilize the net proceeds from this offering to bolster its wholly-owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd. These funds will be used to retire or partially repay outstanding borrowings.

Additionally, JSW Infrastructure plans to channel funds towards capital expenditures by investing in JSW Jaigarh Port Ltd. This investment will facilitate expansion and upgrades at Jaigarh Port, including the expansion of the LPG terminal, the establishment of an electric sub-station, and the acquisition and installation of a dredger.

JSW Infrastructure IPO Grey Market Premium Today

For those closely monitoring the JSW Infrastructure IPO, the grey market premium (GMP) today stands at a promising +18, consistent with the previous trading session. This indicates that JSW Infra shares are currently trading at a premium of ₹18 in the grey market as of Monday, according to topsharebrokers.com.

Considering the upper end of the JSW Infrastructure Limited IPO price band and the current premium in the grey market, the estimated listing price for JSW Infra shares is ₹137 each. This represents a substantial 15.13% increase over the IPO price of ₹119, making it an enticing prospect for potential investors. Stay tuned for more updates as this IPO journey unfolds.

About JSW Infrastructure:

JSW Infrastructure stands as a prominent player among India’s private sector infrastructure firms. With a history dating back to 1999, the company boasts a workforce of over 1200 dedicated employees. JSW Infrastructure is renowned for its commitment to core values including transparency, relentless pursuit of excellence, and a dynamic approach, all underscored by a track record of operational excellence.

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