JSW Energy IPO fully subscribed on first day

JSW Energy IPO fully subscribed on first day

New Delhi: The initial public offering of JSW Energy was subscribed fully within minutes of opening of the issue on Monday.

The issue received bids for around 22.7 crore shares on offer, according to sources in the market.

Most of the bids came in from qualified institutional buyers who subscribed to over two times the portion reserved for them, the sources added.

The IPO, through which the power producer aims to garner up to Rs2,700 crore, will close on 9 December. The price band of issue has been fixed at Rs100-115 per equity share.

Last week, private sector power producer JSW Energy has raised Rs464.86 crore through the issue of shares to seven anchor investors, including Reliance Capital Trustee and Credit Suisse Singapore Ltd at a price of Rs110 per piece.

The energy firm has an operational capacity of 860 MW with additional 2,790 MW capacity under construction and implementation stage.

The company has announced a discount of Rs5 for retail investors in the issue price that will be decided after the completion of book building process.