JSW Infrastructure Share price IPO Debut: Shares Surge 20% Above Listing Price at ₹143 on NSE and BSE
When its shares were launched at a premium on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Tuesday, JSW Infrastructure certainly created a splash. JSW Infrastructure’s share price opened at 143 per share, a huge 20.2% increase over its 119 issue price.
JSW Infrastructure’s initial public offering (IPO) process started on September 25 and was completed on September 27. The range for the price of the company’s shares was initially set at 113 to 119.
In its initial public offering (IPO), JSW Infrastructure Limited reserved a maximum of 75% of the public issue for qualified institutional buyers (QIBs), less than 15% for non-institutional investors (NIIs), and a maximum of 10% for retail investors.
IPO information for JSW Infrastructure:
Freshly issued shares with a value of 2,800 crore were included in JSW Infrastructure’s IPO but there was no offer for sale (OFS) component. According to the Red Herring Prospectus (RHP), the business intends to use the net proceeds of the offering to prepay or refund all or part of the obligations owed by JSW Dhamra Port Private Limited and JSW Jaigarh Port Limited, two of its wholly-owned subsidiary companies.
The business also plans to contribute financially to the necessary capital outlays for the proposed Jaigarh Port expansion/development projects, such as the LPG terminal extension, the construction of an electric sub-station, and the purchase and installation of dredgers.
JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are some of the lead managers for the offering. As the offer’s registrar, KFin Technologies Ltd.
JSW Infrastructure’s Grey Market IPO:
The JSW Infrastructure IPO has been trading at a premium of about 31, indicating that the share price on Tuesday was trading at 31 over the premium in the grey market. JSW Infrastructure’s shares were expected to list for 150 per share, which is 26.05% more expensive than the IPO price of 119.
The ‘grey market premium’ denotes investors’ readiness to purchase shares for a price above the issue price.
The National Stock Exchange (NSE) listed JSW Infrastructure’s shares at a 20% premium over their issue price of 119, or 143, giving them a great start in their maiden trading session. At the same price, the stock was listed on the BSE.
JSW Infrastructure shares were trading in the grey market at a premium of $30-$33 per share prior to its listing, indicating an initial rise of roughly 26-28%. When the issue went out for bids on September 25th, this premium rose to roughly $17–$18.
The IPO oversubscription of JSW Infrastructure Share Price
Qualified institutional buyers (QIBs) eagerly bid for the issue, subscribing 57.09 times, generating a strong demand for JSW Infrastructure’s IPO with an overall subscription of 37.37 times.
The IPO of JSW Infrastructure Share Price attracted a lot of interest, and the company’s outstanding premium on the grey market suggests that investors are feeling upbeat.
