JSW Infrastructure IPO: Check GMP Today, Final Subscription Status

JSW Infrastructure IPO: The initial public offering (IPO) of JSW Infrastructure, which opened for public subscription on September 25 and closed on September 27, was subscribed 37.37 times on the last day of bidding. The JSW Group company’s IPO received bids for 5,09,32,86,660 shares against 13,62,83,186 shares on offer.

The portion allotted for qualified institutional buyers (QIBs) got subscribed 57.09 times while the quota for non-institutional investors received 15.99 times subscription. The category for retail individual investors was subscribed 10.31 times.

JSW Infrastructure IPO’s allotment will take place on October 3, while ist shares will be listed on the BSE and NSE on October 6.

JSW Infrastructure IPO GMP Today

According to market observers, JSW Infrastructure Ltd is currently trading Rs 25 higher in the grey market. The Rs 25 grey market premium or GMP is about 21.01 per cent higher than its upper issue price of Rs 119 per share. This means the grey market is expecting a 21.01 per cent listing gain from the public issue.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

JSW Infrastructure IPO Details

The IPO of up to Rs 2,800 crore had a price range of Rs 113-119 a share. The public issue was entirely a fresh issue of equity shares. JSW Infrastructure on Friday collected Rs 1,260 crore from anchor investors.

The proceeds of the issue to the tune of Rs 880 crore will be used to repay debt, Rs 865.75 crore to finance capital expenditure requirements for an LPG terminal project, Rs 59.4 crore for setting up an electric sub-station, as per the circular.

Further, Rs 103.88 crore will be used for the purchase and installation of a dredger and Rs 151.04 crore for the proposed expansion at Mangalore Container Terminal, it said.

These apart, the proceeds will also be used for general corporate purposes. JSW Infrastructure, a port-related infrastructure company, provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services to its customers. 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 were the managers to the offer.