JSW Infrastructure IPO: What does GMP signal ahead of share listing?

JSW Infrastructure shares are likely to list with a decent premium on stock exchanges given the strong subscription numbers and healthy prospects of the company.

JSW Infrastructure IPO listing will take place within the T+2 timeline (IPO closing date + 2 working days). The capital market regulator Securities and Exchange Board of India (SEBI) had made it voluntary for companies coming up with an IPO from September 1 to opt for the new T+3 timeline. The new rule will be mandatory for all IPOs with effect from December 1, 2023.

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JSW Infrastructure IPO will be the second after RR Kabel IPO that will list in the T+2 timeline.

JSW Infra IPO was opened from September 25 to September 27. The IPO share allotment was finalised on September 28.

The ₹2,800-crore public issue of the JSW Group was subscribed 37.37 times in total. The retail investors’ portion was booked 10.32 times, while the Qualified Institutional Buyers (QIB) bought 57.09 times the allotted quota and Non-Institutional Investors (NII) subscribed for 15.99 times the portion set aside for them.

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JSW Infrastructure IPO GMP Today

JSW Infrastructure shares will be listed on Tuesday, October 3, on BSE and NSE.

Considering the strong demand from investors and JSW Infra IPO gmp today, or grey market premium today, the shares of JSW Infrastructure Ltd are likely to see around 20% to 26% listing premium.

The JSW Infra IPO GMP today is ₹31 per share, as per market observers. This indicates that the shares of JSW Infrastructure are trading higher by ₹31 than their issue price, in the grey market.

The GMP signals JSW Infra listing price of ₹150 per share, which is at 26% premium to the issue price.

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JSW Infrastructure IPO Details

JSW Infrastructure IPO opened for subscription on September 25 and closed on September 27. The total issue size of JSW Infra IPO was ₹2,800 crore which was entirely a fresh issue of 23.53 crore share.

JSW Infra IPO price band was ₹113 to ₹119 per share and the minimum lot size was 126 shares. 

JM Financial, Axis Capital, Credit Suisse Securities (India), Dam Capital Advisors Ltd, Hsbc Securities & Capital Markets Pvt Ltd, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets Limited are the book running lead managers of the JSW Infrastructure IPO, while Kfin Technologies Limited is the IPO registrar.

Also Read: JSW Infrastructure IPO allotment finalised: Latest GMP, here’s how to check allotment status

At the higher price band, JSW Infrastructure is demanding a TTM P/E multiple of 28.7x, which is in-line to only listed peer companies.

JSW Infrastructure is the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during Fiscal 2021 to Fiscal 2023. The company is also the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023.

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Updated: 02 Oct 2023, 08:15 AM IST