JSW Cement IPO Fully Subscribed On Final Day; GMP Falls
The tentative date of allotment of shares to JSW Cement IPO investors will be Aug. 12.
JSW Cement Ltd.'s initial public offering was fully subscribed on its third and final day of bidding on Monday. The portion for retail and non-institutional investors was overbooked. The price band for the IPO is set between Rs 139 and Rs 147 apiece.
The IPO size is Rs 3,600 crore, including 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.
JSW Cement IPO Subscription Status
The JSW Cement IPO has been subscribed 100% as of noon on Monday.
Qualified Institutional Buyers (QIBs): 29%
Non Institutional Investors (NIIS): 1.6 times
Retail Individual Investors (RIIs): 1.1 times
JSW Cement IPO GMP
As per InvestorGain, the latest grey market premium of JSW Cement IPO has declined from Rs 9 to Rs 4. The stock's estimated listing price is seen at Rs 151, according to Investorain. This implies a 2.7% premium.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
