JSW Infrastructure, a New Delhi-based maritime services provider, has finalized the allotment of its initial public offering (IPO) shares today, Friday. The company's IPO, which was open from September 25 to September 27, attracted substantial interest from investors, with the issue being oversubscribed by 39.36 times.
The IPO received bids for 509.35 crore equity shares against the 13.63 crore shares on offer. The qualified institutional buyer (QIB) portion was subscribed 60.12 times, while the non-institutional investors portion received subscriptions 16.83 times over. Retail investors also showed significant participation, subscribing to the issue 10.87 times.
The price band for the IPO was set at ₹113 to ₹119 per share. Currently, JSW Infra shares are commanding a grey market premium (GMP) of ₹23 (USD1 = INR83.092) per share. GMP refers to the premium at which IPO shares are traded in an unofficial market before they are officially listed on stock exchanges.
Following a T+3 listing pattern, JSW Infra shares are expected to be listed on the stock exchanges on October 3.
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