Posted by JSW Infrastructure’s Initial Public Offering (IPO) made a promising start as it got subscribed 43% on the first day of bidding. According to the data available at the stock exchanges, the company received bids for 5,82,98,058 shares against the offered 13,62,83,186 equity shares. This depicts a positive response from the market, indicating a healthy demand for the company’s shares. The firm’s performance on the following days of the bidding will be crucial to gauge the market’s confidence in its growth storyJSW Infrastructure’s Initial Public Offering (IPO) saw a subscription rate of 43% on its first day of bidding, according to data available on the stock exchanges. The company received bids for 5,82,98,058 shares against the 13,62,83,186 equity shares on offer
The portion set aside for retail investors was subscribed 75%, while the quota for non-institutional investors received 4% subscription. The segment for qualified institutional buyers (QIBs) saw a subscription of 34%Despite the challenging market conditions, the IPO managed to attract a decent subscription rate on the first day. The response from retail investors has been particularly encouraging,” commented a market analystJSW Infrastructure, one of India’s leading private sector infrastructure companies, is aiming to raise INR 2,000 crore through this IPO. The company has priced its shares in the band of INR 15-17 per shareThe IPO consists of a fresh issue of shares worth INR 1,200 crore and an offer for sale (OFS) of INR 800 crore by the existing shareholders. The proceeds from the fresh issue will be used for repayment or prepayment of certain borrowings availed by the company and for general corporate purposes
Experts believe that the company’s strong business model, its wide range of services in the infrastructure sector, and the current market conditions make it an attractive option for investorsJSW Infrastructure is a part of the JSW Group, a $13 billion conglomerate with a presence across various sectors including steel, energy, infrastructure, cement, ventures, and sports. The company operates a diversified portfolio of infrastructure assets that include ports, airports, roads, and railwaysIt is yet to be seen how the IPO will fare in the coming days. The subscription rates are expected to pick up as more institutional investors participate in the bidding process. The IPO will remain open for subscription till the end of the week
JSW Infrastructure IPO subscription status: JSW Infrastructure IPO has been subscribed 43% on day 1. JSW Infra IPO opened for subscription today (Monday, September 25), and will close on Wednesday, September 27. JSW Infrastructure Limited IPO has fixed price band of the public offer at ₹113 to ₹119. Bids can be made for a minimum of 126 equity shares and in multiples of 126 equity shares thereafter.JSW Infra IPO retail investors’ portion received bids for 3,42,45,792 shares against 2,47,78,761 shares on offer for this segmentJSW Infrastructure IPO’s non-institutional investors’ portion received bids for 2,21,93,010 shares against 3,71,68,141 on offer for this segment JSW Infra IPO comprises a fresh issuance of ₹2,800 crore worth of shares, there’s no offer for sale (OFS) component.JSW Infra IPO’s Qualified Institutional Buyers (QIBs) portion received bids for 19,62,072 shares against 7,43,36,284 on offer for this segment
According to Red Herring Prospectus (RHP), the company plans to invest the net proceeds from the offering into its fully owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd., in order to prepay or repay all or a portion of certain outstanding borrowingsThe company 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, including the expansion of the LPG terminal, the establishment of an electric sub-station, and the purchase and installation of a dredgerExciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here
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, and SBI Capital Market Ltd are the book running lead managers to the Offer. KFin Technologies Ltd is the offer’s registrarJSW Infrastructure IPO GMP today or or grey market premium is +18 similar to the previous trading session. This indicates JSW Infra share price were trading at a premium of ₹18 in the grey market on Monday, according to topsharebrokers.comConsidering the upper end of the JSW Infrastructure Limited IPO price band and the current premium in the grey market, the estimated listing price of JSW Infra share price is ₹137 apiece, which is 15.13% higher than the IPO price of ₹119