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

JSW Infrastructure IPO: Bidding for the initial public offering (IPO) of JSW Infrastructure Ltd opened on 25th September 2023 and the issue will remain open till 27th September 2023. The book build issue has been offered at a price band of ₹113 to ₹119 per equity share and the public issue has been subscribed 0.43 times on day one of bidding. 

According to stock market observers, shares of JSW Infrastructure Limited are available at a premium of ₹21 in grey market today.

JSW Infrastructure IPO GMP today

As per the market observers, JSW Infrastructure IPO grey market premium (GMP) today is ₹21, which is ₹4 higher from yesterday's GMP of ₹17. They said that Indian stock market snapping its four days beating on Monday could be the possible reason for rise in grey market sentiments in regard to the public issue. They said that in case of trend reversal on Dalal Street, this sentiment may further improve as the market has remained dull for near one week.

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JSW Infrastructure IPO subscription status

The book build issue has been subscribed 0.43 times after one day of bidding. The retail portion of the public offer got subscribed 1.38 times whereas its NII and QIB portion got subscribed 0.60 times and 0.03 times respectively.

On day two of bidding, the public issue has been subscribed 2.14 times whereas its retail portion has been subscribed 4.55 times. The public issue has been subscribed 3.70 times in NII category while its QIB portion has been subscribed 0.55 times.

JSW Infrastructure IPO: Should you apply?

Giving 'subscribe' tag to the JSW Infrastructure IPO for long term, Anand Rathi report says, "JSW Infrastructure Limited is Fastest growing port-related infrastructure and second largest commercial port operator in India with Strategically located assets at close proximity to JSW Group Customers (Related Parties) and industrial clusters supported by a multi-modal evacuation infrastructure and Predictable revenues driven by long-term concessions, committed long-term cargo and stable tariffs along with Diversified operations in terms of cargo profile, geography and assets and also have benefit from strong corporate lineage of the JSW Group and a qualified and experienced management team. We believe that valuations of the company is fairly priced and recommend a “Subscribe-Long Term” rating to the IPO."

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Canara Bank Securities has also given 'subscribe' tag to the book build issue citing, "Company’s revenue and EBIDTA shows growth of 41% and 42% respectively in terms of 2 year CAGR. EBIDTA Margins have remained steady at 53% despite a fall in FY2022. This issue is available at P/EPS of 28.88x which appears reasonably priced as the company’s revenue visibility is strong for future with steady margins. Hence, we recommend to subscribe the issue for listing gains and long term."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.