JSW Cement Ltd.'s initial public offering has been subscribed 0.29 times or 29% so far on its first day of bidding on Thursday. The company plans to raise Rs 3,600 crore from the primary market. The IPO will be open for subscription from Aug.7 to 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 19,565.30 crore
Lot Size: 102 shares
Subscription Status: Day One
The JSW Cement IPO has been subscribed 0.29 times or 29% as of 5:00 p.m. on Thursday.
Qualified Institutions: 0.23 times or 23%.
Non-Institutional Buyers: 0.20 times or 20%.
Retail Investors: 0.36 times or 36%.
IPO GMP
As per InvestorGain, the latest grey market premium of JSW Cement IPO is Rs 9, as of 5:33 p.m. The stock's estimated listing price is seen at Rs 156, according to InvestorGain. This implies a 6.12% premium.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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