JSW Infrastructure IPO subscribed 43% on day 1; retail portion oversubscribed

JSW Infrastructure IPO subscription status: JSW Infrastructure IPO has been subscribed 43% on day 1. JSW Infra IPO opened for subscription today (Monday, September 25), and will close on Wednesday, September 27. JSW Infrastructure Limited IPO has fixed price band of the public offer at ₹113 to ₹119. Bids can be made for a minimum of 126 equity shares and in multiples of 126 equity shares thereafter.

JSW Infra IPO's retail investors portion was subscribed 1.38 times, NII portion was subscribed 60%, and Qualified Institutional Buyers (QIB) portion was subscribed 3%.

Also Read: IPOs This Week: JSW Infra IPO to Arabian Petroleum IPO; 16 new issues, 8 listings to keep primary market buzzing

JSW Infrastructure IPO subscription status details

JSW Infrastructure IPO has received bids for 5,84,00,874 shares against 13,62,83,186 shares on offer, according to data from the BSE.

JSW Infra IPO retail investors' portion received bids for 3,42,45,792 shares against 2,47,78,761 shares on offer for this segment.

JSW Infrastructure IPO's non-institutional investors' portion received bids for 2,21,93,010 shares against 3,71,68,141 on offer for this segment.

JSW Infra IPO's Qualified Institutional Buyers (QIBs) portion received bids for 19,62,072 shares against 7,43,36,284 on offer for this segment.

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

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.

Also Read: JSW Infrastructure IPO opens next week. GMP, review, other details in 10 points

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.

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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: JSW Group's IPO mobilises ₹1,260 crore from anchor investors ahead of issue

JSW Infra IPO GMP today

JSW Infrastructure IPO GMP today or or grey market premium is +18 similar to the previous trading session. This indicates JSW Infra share price were trading at a premium of ₹18 in the grey market on Monday, 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 ₹137 apiece, which is 15.13% higher than the IPO price of ₹119.

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

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