JSW Cement IPO: Check Listing Date And Latest GMP Ahead Of Market Debut This Week
The Rs 3,600-crore mainboard IPO was open for subscription from Aug. 7 to Aug. 11.
The share allotment status for the JSW Cement IPO was finalised on Aug. 12. IPO bidders are now keeping a watch on the grey market premium ahead of the listing of the company's shares.
The mainboard issue was open for subscription from Aug. 7 to Aug. 11. JSW Cement IPO was overall subscribed 7.77 times on the last day of bidding on Monday. The IPO received bids for over 140.93 crore shares against 18.12 crore shares on offer.
Ahead of its listing this week, here is what the latest GMP indicates and other key details about the IPO.
JSW Cement IPO GMP Today
According to InvestorGain, GMP for the JSW Cement IPO stood at Rs 4.5 per share as of 1:31 p.m. on Aug. 13. The latest GMP indicates an estimated listing price of Rs 151.5 apiece at a premium of 3.06% over the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
JSW Cement IPO Listing Date
Shares of JSW Cement are tentatively scheduled to be listed on the BSE and NSE on Aug. 14.
JSW Cement IPO: Key Details
The JSW Cement IPO was a book build issue worth Rs 3,600 crore. The mainboard IPO comprised a fresh issue of 10.88 crore shares, amounting to Rs 1,600 crore, and an offer-for-sale of 13.61 crore shares, aggregating to Rs 2,000 crore.
The price band for the IPO was set between Rs 139 and Rs 147 per share. To participate in the IPO, retail investors were required to bid for at least a single lot size of 102 shares, leading to a minimum investment of Rs 14,178.
The company is scheduled to transfer shares to the demat accounts of successful bidders on Aug. 13. Refunds to non-allottees will also be processed on Wednesday.
JM Financial was the book-running lead manager and Kfin Technologies was the registrar for the issue.
Use Of Proceeds
The company proposes to utilise proceeds from the IPO to develop an integrated cement unit, clear debt and for general corporate purposes.
About JSW Cement
JSW Cement is a leading manufacturer of green cement. It is part of the JSW Group. According to its website, as of March 31, 2024, its total installed grinding capacity stood at 20.60 MMTPA.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
