Comments
The ₹2,800-crore initial public offering of JSW Infrastructure was subscribed 37.37 times on the final day of bidding on Wednesday. The IPO, which came out with price band of ₹113-119, received bids for 509.35 crore shares against 13.63 crore shares on offer.
Qualified institutional buyer’s portion was subscribed 57.09 times. Quotas for non-institutional investors and retail investors were subscribed 15.99 times and 10.32 times, respectively.
JSW Infrastructure, a part of the JSW Group, raised ₹1,260 crore from 65 anchor investors on September 22, ahead of the IPO. The Sajjan Jindal company said it was allotting 10.59 crore shares to anchor investors at ₹119 a share.
International marquee investors such as the Government of Singapore, Monetary Authority of Singapore, Morgan Stanley, Fullerton, HSBC Trustee, TA Global, The Master Trust Bank of Japan, Cohesion MK Best Ideas, Goldman Sachs, Theleme India Master Fund, BNP Paribas Arbitrage - ODI, and Principal Global have participated in the diversified maritime ports company’s anchor book.
Domestic investors Abakkus, LIC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Sundaram Mutual Fund, UTI Mutual Fund, Tata Mutual Fund, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, and SBI General Insurance Company, also participated in the anchor book.
Expansion
The company plans to further expand its operations through brownfield and greenfield projects. It is also considering inorganic opportunities to further expand its capacities, customer base, service offerings and geographical footprint.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.