JSW Infra IPO: Issue booked over 37 times on last day so far; check GMP, should you subscribe?

JSW Infra IPO last date: JSW Infrastructure IPO subscription will end today (Wednesday, September 27). JSW Infrastructure IPO has been oversubscribed on the final day. JSW Infrastructure IPO has been subscribed 37.37 times on day 3, so far.

JSW Infra IPO opened for subscription on Monday, September 25. JSW Infrastructure IPO was subscribed 2.14 times on day 2. JSW Infra IPO's retail investors portion was subscribed 4.55 times, NII portion was subscribed 3.70 times, and Qualified Institutional Buyers (QIB) portion was subscribed 55%.

Also Read: JSW Infrastructure IPO: Issue fully booked on day 2; retail portion subscribed over 4 times

JSW Infrastructure IPO was subscribed 43% on day 1. JSW Infra IPO price band has been set in the range between ₹113 to ₹119 per equity share of face value of ₹2 each. JSW Infra IPO lot size is 126 equity shares and in multiples of 126 equity shares thereafter.

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JSW Infrastructure Limited IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

JSW Infrastructure IPO subscription status details

JSW Infra IPO has been subscribed 37.37 times on day 3. JSW Infra IPO received overwhelming response from retail investors, whose portion  was subscribed 10.32 times, NII portion was subscribed 15.99 times, and Qualified Institutional Buyers (QIB) portion was subscribed 57.09 times.

JSW Infrastructure IPO has received bids for 5,09,35,27,446 shares against 13,62,83,186 shares on offer, according to data from the BSE.

JSW Infra IPO retail investors' portion received bids for 25,56,58,536 shares against 2,47,78,761 shares on offer for this segment.

JSW Infrastructure IPO's non-institutional investors' portion received bids for 59,41,72,278 shares against 3,71,68,141 on offer for this segment.

JSW Infra IPO's Qualified Institutional Buyers (QIBs) portion received bids for 4,24,36,96,632 shares against 7,43,36,284 on offer for this segment.

JSW Infra IPO Review

JSW Infrastructure Ltd is the port-related infrastructure company with the fastest growth rate, according to brokerage Nirmal Bang. By utilising locational advantage and maximising assets, it has a broad customer base that includes third-party customers from various geographic locations.

“Hence it is able to generate higher EBITDA margins and ROCE compared to Adani Ports. It intends to leverage its presence in the non-major ports to provide fully integrated logistics solutions to its customers. JSW Infrastructure Ltd is being offered at reasonable valuations at 17.2x FY23 EBITDA and thus we recommend subscribing to the issue,” said the brokerage. 

JSW Infrastructure IPO details

JSW Infra IPO comprises a fresh issuance of ₹2,800 crore worth of shares, there's no offer for sale (OFS) component.

According to Red Herring Prospectus (RHP), the company plans to invest the net proceeds from the offering into its fully owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd, in order to prepay or repay all or a portion of certain outstanding borrowings.

The company also intends to finance capital expenditure requirements through investment in its wholly owned subsidiary, JSW Jaigarh Port Ltd, for proposed expansion/upgradation works at Jaigarh Port, including the expansion of the LPG terminal, the establishment of an electric sub-station, and the purchase and installation of a dredger.

JM Financial Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Private Ltd, DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd, and SBI Capital Market Ltd are the book running lead managers to the Offer. KFin Technologies Ltd is the offer's registrar.

Also Read: JSW Infra IPO opens today: GMP, review, other key details to know. Should you subscribe?

JSW Infra IPO GMP today

JSW Infrastructure IPO GMP today or or grey market premium is +19 similar to the previous trading session. This indicates JSW Infra share price were trading at a premium of ₹19 in the grey market on Wednesday, according to topsharebrokers.com

Considering the upper end of the JSW Infrastructure Limited IPO price band and the current premium in the grey market, the estimated listing price of JSW Infra share price is ₹138 apiece, which is 15.97% higher than the IPO price of ₹119.

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

Also Read: JSW Infrastructure IPO: Latest GMP, subscription status, buy or not?