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.
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.
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.