JSW Infrastructure IPO: On the final day of bidding, the initial public offering (IPO) of JSW Infrastructure, which began on September 25 and ended on September 27, was subscribed 37.37 times. Against the 13,62,83,186 shares that were on sale, bids for 5,09,32,86,660 shares of the JSW Group company’s IPO were received.
Qualified institutional buyers’ (QIBs) part received 57.09 times the number of subscriptions as non-institutional investors’ (15.99 times) limit. The number of subscribers for the retail individual investor category was 10.31.
On October 3, JSW Infrastructure will distribute its initial public offering, and on October 6, its shares will list on the BSE and NSE.
Today’s JSW Infrastructure IPO GMP
Market watchers report that JSW Infrastructure Ltd. is currently trading 25 rupees more expensively on the black market. The maximum issue price of Rs 119 per share is around 21.01 percent more than the grey market premium of Rs 25, or GMP. This indicates that the grey market anticipates a listing gain of 21.01% from the public offering.
Investors’ willingness to pay more than the issue price is indicated by the term “grey market premium.”
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Details
The pricing range for the IPO, which raised up to Rs 2,800 crore, was Rs 113–119 per share. The public offering of equity shares was solely a new issue. On Friday, anchor investors contributed Rs 1,260 crore to JSW Infrastructure.
According to the circular, Rs 880 crore of the issue’s proceeds would be used to pay off debt, Rs 865.75 crore to fund the project’s capital expenses for an LPG terminal, and Rs 59.4 crore to build an electric sub-station.
Additionally, it stated that Rs 151.04 crore would be spent for the proposed expansion at Mangalore Container Terminal as well as Rs 103.88 crore for the purchase and installation of a dredger.
Aside from these, the money will also be used for regular business needs. A port-related infrastructure company called JSW Infrastructure offers its clients marine services such cargo handling, storage options, logistics services, and other value-added services. The offer’s administrators were JM Financial, Axis Capital, Credit Suisse Securities (India), DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets.
