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JSW Infrastructure's IPO draws $ 7.3 billion bids

2023-09-28

Indian commercial port operator JSW Infrastructure has received bids worth Rs 606.13 billion in its initial public offering (IPO). The company, which is owned by the JSW Group, received bids for Rs 5.09 billion shares at a price range of Rs 113 to 119 per share. This represents a significant oversubscription, with the demand reaching 37.37 times the 136.3 million shares that were initially offered, as per National Stock Exchange data. Institutional investors have displayed the most substantial interest in this IPO. It's worth noting that this marks JSW Group's first IPO since JSW Energy in 2010. The IPO consisted of a fresh issue of shares valued at up to 28 billion rupees. JSW Energy (JSWE.NS) made its debut in January 2010 and has seen its value increase more than fourfold since then. JSW Infra, a competitor of Adani Ports (APSE.NS) and Gujarat Pipavav Port (GPPL.NS), is scheduled to be listed on Indian exchanges next week.