In a show of strong investor interest, JSW Infrastructure's initial public offering (IPO) was oversubscribed by a significant 37.37 times on Friday. This marks the first IPO for the JSW Group in 13 years. Investors bid for 509.3 crore equity shares, implying substantial demand for the company's stock.
The shares are anticipated to list at a price of about ₹144, up from the issue price of ₹119, following a Grey Market Premium (GMP) of ₹25. The listing is scheduled for October 4. This expectation of a higher listing price indicates positive market sentiment towards the company.
High net worth individuals and qualified institutional buyers subscribed multiple times their quotas, showing broad-based interest in the offering. This robust response from these categories of investors underscores their confidence in JSW Infrastructure's prospects.
The public offer size was reduced to ₹1,540 crore following anchor book fundraising. This reduction suggests that the company has successfully raised funds from anchor investors prior to the public offer.
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