JSW Cement IPO listing date has been scheduled for tomorrow (Thursday, August 14). JSW Cement IPO allotment was finalised yesterday (Monday, August 12). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Wednesday, August 13. The process of refunding those who have not yet received their shares will likewise be finished today.
The initial public offering of JSW Cement Ltd, a company within the diversified JSW Group, was oversubscribed by 7.77 times on the final day of the share sale on Monday. The segment for Qualified Institutional Buyers (QIBs) was subscribed 15.80 times, while the non-institutional investors segment achieved a subscription rate of 10.97 times. The Retail Individual Investors (RIIs) portion saw a subscription of 1.81 times.
JSW Cement IPO reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
JSW Cement IPO price band was established at ₹139-147 per share, giving the 17-year-old company a valuation of ₹20,000 crore at the higher end of the price spectrum.
The JSW Cement IPO consists of a fresh issue of ₹1,600 crore in shares along with ₹2,000 crore in shares through an Offer-For-Sale (OFS). The firm intends to use proceeds of ₹800 crore to partially fund a new integrated cement facility in Nagaur, Rajasthan, with ₹520 crore allocated for debt repayment and the rest of the funds earmarked for general corporate purposes.
The book-running lead managers for the offer include JM Financial Ltd, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets.
JSW Cement IPO GMP today
Let's check what does JSW Cement IPO GMP today signal ahead of listing.
JSW Cement IPO GMP today is +4.5. This indicates JSW Cement IPO share price were trading at a premium of ₹4.5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of JSW Cement IPO share price was indicated at ₹151.5 apiece, which is 3.06% higher than the IPO price of ₹147.
According to the grey market activities from the previous 12 sessions, the current GMP ( ₹4.5) is indicating a downward trend. The minimum GMP recorded is ₹0.00, while the maximum GMP is ₹19, as per insights from experts at investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
