JSW Cement IPO: The IPO of the country’s veteran cement company JSW Cement has opened from 7 August. For this, investors will be able to bid till August 11. In the last two days, the IPO has received more than 56 times subscription. This public offer is rewarded for about 50 percent of qualified institutional buyers, about 35 percent of retail investors and the remaining 15 percent for Non-Institutional Investors.
Such subscription found in every category
This company, formed in 2009, is one of the three largest cement producers in India in terms of grinding capacity and sales in today’s time. According to CRISIL (Credit Rating Information Services of India Limited), it is one of the top 10 companies making cement in the country in terms of manufacturing capacity and sale by 31 March, 2025.
The issue has received 56 percent subscription in all the categories on the second day. It was also subscribed to 72 percent in the retail category, 23 percent in the NII segment and 23 percent in the QIBS segment.
How much is GMP?
On August 9, the company’s IPO is trading at a premium of Rs 8 in the gray market. While on August 7, it was trading at a premium of Rs 13. That is, it has fallen by 3 rupees in the last two days. According to Investorgen, the estimated listing of JSW Cement IPO is expected to be at Rs 155, which is about 5.44 % more than its upper price band 147.
According to the gray market trends seen in the last seven sessions, the GMP of the IPO is continuously increasing and its great performance is expected. According to experts of Investorgen.com, its minimum GMP has been recorded at Rs 0.00, while a maximum GMP of Rs 19 has been recorded.
How long will the share be allotted?
The IPO will sell a fresh share of Rs 1,600 crore and shares worth Rs 2,000 crore under the current shareholders offer-for-cell (OFS) window. The company will use Rs 800 crore raised from the IPO for partial funding of a cement factory in Nagaur, Rajasthan, to pay loans 520 crore and spend the remaining amount for general corporate purposes. The listing of JSW Cement shares will be on BSE and NSE on August 14, while the allotment is expected to be till August 12.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
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