Last heard, JSW Infra was commanding a premium of Rs 24-25 apiece, suggesting a listing pop of around 20 per cent for the investors. 
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Last heard, JSW Infra was commanding a premium of Rs 24-25 apiece, suggesting a listing pop of around 20 per cent for the investors. JSW Infrastructure is likely to allot its shares on Friday, that is, September 29. The primary stake sale offers of the JSW Group entity saw a robust response, particularly from institutional investors, from the investors at Dalal Street during the three-day bidding process.
JSW Infrastructure sold its IPO in the fixed price band of Rs 113-119 per share with a lot size of 126 shares. The issue was open for bidding between September 25 to September 27. The Sajjan Jindal-led entity raised a total of Rs 2,800 crore from its primary offering, which was entirely a fresh issue.
The issue was overall subscribed 37.37 times. The portion for qualified institutional bidders (QIBs) was booked 57.09 times, while the portion set aside for non-institutional investors saw 15.99 times bidding. The allocation reserved for retail investors was subscribed a little more than 10.32 times during the bidding process.
Grey market premium (GMP) of JSW Infrastructure has increased in the last couple of days. Last heard, JSW Infra was commanding a premium of Rs 24-25 apiece, suggesting a listing pop of around 20 per cent for the investors. The premium in the unofficial market stood around Rs 18-20 on the first final day of the bidding.
JSW Infra provides maritime-related services, which includes logistics services, storage solutions and cargo handling. It develops and operates ports and port terminals under port concessions for long-term, say 30-50 years period. JSW Infra was incorporated in 2006 and it is the second largest commercial port operator in the country in terms of cargo handling capacity.
Majority of the brokerage firms have suggested to 'subscribe' to JSW Infra's IPO. They were positive on the company's strong and long-term business model, limited competition, reasonable valuations and growth prospects in the future. However, uncertainty in traffic at ports, changes in regulations and environmental concerns were cited as the key risks for the issue.
Jm Financial, Credit Suisse Securities (India), Dam Capital Advisors, HSBC Securities & Capital Markets, Axis Capital, ICICI Securities, Kotak Mahindra Capital and SBI Capital Markets were the lead managers to the issue, while Kfin Technologies acted as the registrar for this IPO. Shares of JSW Infra are likely to be listed on both BSE and NSE on Tuesday, October 3. Investors, who bid for the issue, can check the allotment status on the BSE website. Click Equity, under the issue type and then select JSW Infrastructure Limited in the dropbox. One needs to type-in the application number and add the PAN card ID before clicking on 'I am not a Robot' and hitting submit.
Allotment status can also be checked on the online portal of Kfin Technologies, the registrar to the issue. Visit the web portal of KFin Technologies and select the IPO of JSW Infrastructure in dropbox. One may be required to select either Application number, demat account number, or PAN ID. Enter the details of the mode you selected in the previous tab and fill the captcha accurately before hitting submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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