JSW Infrastructure IPO Day 2: Check Subscription Status, Lot Size, Latest GMP; Should You Subscribe

Today is the second day to subscribe to the initial public offering (IPO) of JSW infrastructure which opened for subscription on Monday (September 25). The three-day IPO of Sajjan Jindal-owned company JSW Infrastructure Limited will close for bidding on September 27 (Wednesday). This means only two days are left for investors to place bids for the public issue.

The JSW Infrastructure IPO was subscribed 0.43 times on the first day of bidding. The price band of the book build issue has been fixed between Rs 113 to Rs 119 per equity share. Meanwhile, shares of JSW Infrastructure Limited are available at a premium of Rs 21 in the grey market today, according to market observers.

The company is looking to raise Rs 2,800 crore from its initial offer. The IPO of JSW Infrastructure Limited is 100% fresh in nature, which means the public issue does not include an Offer for Sale (OFS) component. The company's shares are likely to be listed on NSE and BSE both.

JSW Infrastructure IPO subscription status

The book build issue was subscribed 0.43 on the first day of bidding. The retail portion of the public offer got subscribed 1.38 times whereas its NII and QIB portion got subscribed 0.60 times and 0.03 times respectively.

As of 10:12 today, the public issue has been subscribed 0.55 times, while its retail portion has been subscribed 1080 times. In the NII and QIB categories, the public issue has been subscribed 0.76 and 0.03 times respectively.

The JSW Group company has reserved 75% of the offer size for qualified institutional buyers (QIBs), 15% for high net-worth individuals (HNIs), and the remaining 10% for retail investors.

JSW Infrastructure IPO Size:

The IPO comprises only a fresh issue component by the company and it does not have an offer-for-sale portion.

Ahead of the IPO launch, out of the total offer size, the company raised Rs 1,260 crore from several anchor investors on September 22 (Friday). These investors include the Monetary Authority of Singapore, Morgan Stanley, the Government of Singapore, HSBC, The Master Trust Bank of Japan, Goldman Sachs, Theleme India Master Fund, Principal Global, Sunil Singhania-owned Abakkus, LIC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, and Max Life Insurance Company.

JSW Infrastructure IPO Important Dates:

The company is expected to finalize the basis of the allotment of IPO shares by October 3, while the tentative date for crediting the shares to demat accounts of eligible investors is October 5.

JSW Infrastructure shares are expected to commence trading on the BSE and NSE with effect from October 6.

JSW Infrastructure IPO size:

JSW Infra IPO comprises a fresh issuance of Rs 2,800 crore worth of shares, there is no offer for sale (OFS) component.

JSW Infrastructure IPO GMP today

According to IPOWatch, JSW Infrastructure IPO grey market premium (GMP) today is Rs 21, up Rs 4 compared to yesterday's GMP of Rs 17. According to market observers, the Indian stock market snapped its four-day losing streak on Monday and that could be one possible reason for the rise in grey market sentiments for the public issue.