JSW Infrastructure Shares Debut at 20% Premium, IPO Listing at ₹143

JSW Infrastructure, made a strong debut on both the NSE and BSE on Tuesday. The company’s shares were listed at ₹143 per share, reflecting a significant 20.2% premium over the issue price of ₹119.

JSW Infrastructure’s IPO subscription period ran from September 25 to September 27, with the price band for the public offering set between ₹113 and ₹119.

JSW Infrastructure Limited’s IPO allocated 75% of the shares to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to Retail Investors.

Details of JSW Infrastructure IPO:

The JSW Infrastructure IPO consisted solely of fresh share issuances worth ₹2,800 crore, without any offer for sale (OFS) component.

As outlined in the Red Herring Prospectus (RHP), the company plans to utilize the net proceeds from the IPO to prepay or repay outstanding borrowings, particularly within its fully-owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd. Additionally, the company intends to finance capital expenditure requirements by investing in its wholly-owned subsidiary, JSW Jaigarh Port Ltd, to support proposed expansion and upgrade initiatives at Jaigarh Port. These initiatives include expanding the LPG terminal, establishing an electric sub-station, and acquiring and installing a dredger.

The book running lead managers for the IPO included 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. KFin Technologies Ltd served as the registrar for the offering.

Grey Market Premium (GMP) for JSW Infrastructure IPO:

As of the latest reports, the Grey Market Premium (GMP) for JSW Infrastructure IPO remained at +31, consistent with the previous two trading sessions. This indicated that JSW Infrastructure shares were trading at a premium of ₹31 in the grey market on Tuesday, as reported by investorgain.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 for JSW Infrastructure shares was ₹150 apiece, representing a 26.05% increase over the IPO price of ₹119.

The “grey market premium” is an indicator of investors’ willingness to pay more than the issue price for shares.

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