JSW Infra lists at premium

about 8 months ago
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JSW Infrastructure is the new listing on the bourses today; as against the IPO price of Rs.119, the stock got listed at Rs.143, a 20% premium.

The IPO met with a good response, subscribing 37.37 times of which QIBs portion was at 57.09x, HNIs at 15.99x and retail investors at 10.32x.

The company, privately owned with 96.4% promoter holding (mainly Sajjan Jindal Family Trust), operates 2 ports at Jaigarh and Dharamtar in Maharashtra and 7 terminals across East and West coast, aggregating 153 MTPA capacity in India, plus 2 ports of 41 MTPA under O&M in UAE. In our IPO Analysis, we had concluded - Pricing limits scope for listing gains, but long-term growth plans are encouraging. Hence only those with a long term view should apply in the IPO.

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