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JSW Cement IPO Subscribed 51% So Far On Day 2, GMP Rises

The price band for the IPO is set between Rs 139 and Rs 147 apiece.

Shreya Sur

JSW Cement Ltd., plans to raise Rs 3,600 crore from the primary market. (Source: NDTV Profit)

JSW Cement Ltd.'s initial public offering has been subscribed 0.51 times or 51% so far on its second day of bidding on Friday.

The IPO was subscribed 0.29 times or 29% on its first day of bidding on Thursday. The company plans to raise Rs 3,600 crore from the primary market. The IPO will close for subscription on Aug. 11.

The price band for the IPO is set between Rs 139 and Rs 147 apiece. JSW Cement aims to raise up to Rs 1,600 crore via a fresh issue, while existing shareholders, including State Bank of India, will sell shares via an offer for sale aggregating up to Rs 2,000 crore.

On the upper price band, JSW Cement is valued at Rs 19,564 crore. It will be the sixth company from billionaire Sajjan Jindal-led JSW Group to be listed on the stock market. The last one was JSW Infrastructure Ltd., which went public in October 2023.

The tentative date of allotment of shares to IPO investors will be Aug. 12 and the stock will list on the bourses on Aug. 14.

IPO Details

  • Issue opening: Aug. 7–11

  • Issue Price: Rs 139–147

  • Fresh Issue: Rs 1,600 crore

  • OFS: Rs 2,000 crore 

  • Total Issue Size: Rs 3,600 crore

  • Market value at upper end of price band: Rs 19,565.3 crore

  • Lot Size: 102 shares

Subscription Status: Day Two

The JSW Cement IPO has been subscribed 0.51 times or 51% as of 3:24 p.m. on Friday.

  • Qualified Institutions: 0.24 times or 24%.

  • Non-Institutional Buyers: 0.49 times or 49%.

  • Retail Investors: 0.67 times or 67%.

IPO GMP

As per InvestorGain, the latest grey market premium of JSW Cement IPO is Rs 13, as of 3:01 p.m. The stock's estimated listing price is seen at Rs 160, according to InvestorGain. This implies an 8.84% premium.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Also Read: JSW Cement IPO Opens: 'Subscribe For Long-Term' Says Anand Rathi — Check Issue Details

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