JSW Infrastructure IPO to close today: Check live subscription details here

27 Sep 2023 , 01:28 PM

The initial public offering (IPO) of JSW Infrastructure, a subsidiary of the JSW Group, has garnered strong investor interest and was subscribed 10.47 times on the final day of bidding, September 27. Investors placed bids for 1.42 crore equity shares, significantly surpassing the issue size of 13.62 crore shares.

Retail investors, who hold a 10% reservation in the public issue, demonstrated robust enthusiasm by subscribing 7.60 times their allotted quota. High-net-worth individuals, with a 15% allocation, subscribed 10.37 times.

Qualified institutional buyers (QIBs), typically long-term investors, showed significant interest by bidding 11.47 times their reserved portion, which constitutes 75% of the total issue size.

As outlined in the Red Herring Prospectus (RHP), JSW Infrastructure plans to utilize the net proceeds from the IPO to support its fully-owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Ltd. These funds will be directed toward prepaying or repaying certain outstanding borrowings. Additionally, the company intends to finance capital expenditure requirements, including expansion and upgrading initiatives at Jaigarh Port, such as the expansion of the LPG terminal, the establishment of an electric sub-station, and the acquisition and installation of a dredger.