JSW Infrastructure made a solid debut on the stock exchanges on 3 October. The port infrastructure firm's shares listed at Rs 143 on both the NSE and BSE, a premium of 20 per cent to its issue price of Rs 119.
The shares of JSW Infrastructure were highly sought after in the grey market prior to its listing, with a premium of Rs 30-33 per share. This indicated a potential increase of 26-28% on the first day of trading.
However, the premium has since risen to almost double the initial levels of Rs 17-18 on September 25, which was the day the shares were up for bidding. During its primary stake sale, JSW Infrastructure raised a total of Rs 2,800 crore by selling only fresh equity shares.
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At 11:20 AM, JSW Infra stock was trading 32.18 per cent higher at Rs 157.30 on the BSE.
The shares were offered within a fixed range of Rs 113-119 per share, with a lot size of 126 shares. The IPO subscription period for the JSW Group entity ran from September 25 to September 27.
Investors showed a strong interest in the company's public offer, with a subscription rate of 37.37 times. The qualified institutional buyers' (QIBs) portion was subscribed 57.09 times. Non-institutional investors (NIIs) also showed significant interest, subscribed 15.99 times of the alloted quota. The portion booked for retail investors was subscribed 10.32 times.
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JSW Infrastructure's issue was managed by JM Financial, Axis Capital, ICICI Securities, Dam Capital Advisors, Credit Suisse Securities (India), HSBC Securities & Capital Markets, Kotak Mahindra Capital and SBI Capital Markets, while Kfin Technologies was the registrar for the IPO.
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