JSW Cement IPO: GMP jumps on first day of bidding; know subscription status
The GMP of JSW Cement IPO languished on August 6, a day before the IPO opened for bidding. But due to investor enthusiasm the GMP surged to Rs 13 on August 7. and stayed at that level on the morning of August 8.
Kolkata: JSW Cement IPO was subscribed 0.30 times till the evening of August 7, the first of bidding. The issue received applications for subscriptions that amounted to 0.38 times in the retail category, 0.24 times in QIB and 0.21 times in the NII category by 5 pm. Investors can bid till August 9. The issue intends to mobilise Rs 3,600.00 crore through a combination of fresh equity and shares in the OFS category -- 10.88 crore fresh shares aggregating to Rs 1,600.00 crore and 13.61 crore OFS shares aggregating to Rs 2,000.00 crores.
On August 6, a day before the opening of the bidding process, JSW Cement garnered Rs 1,080 crore from anchor investors. The list included Government of Singapore, Abu Dhabi Investment Authority, Nomura, Morgan Stanley Investment Fund, Goldman Sachs (Singapore) Pte and Kuwait Investment Authority, SBI Mutual Fund, Nippon India MF, Tata MF, Aditya Birla Sun Life MF, Motilal Oswal MF and SBI Life Insurance Company.
JSW Cement IPO GMP
According to investorgain, the JSW Cement IPO GMP displayed a rather see-saw ride on the last three days. On August 5, it stood at Rs 14, and then it dramatically dipped to Rs 6 in the morning of August 6, a day before the bidding process opened. It also stood at Rs 6 on August 7 morning but jumped to Rs 13 later and remained at that level also on the morning of August 8, which is the day two of the bidding process. At the level of Rs 13, it signals a listing gain of 8.84%. However, it must be kept in mind that GMP is an unofficial indicator and can keep changing with time. It guarantees nothing -- gain or loss on listing.
JSW Cement price, lot size, dates
The price of one share of JSW Cement has been set at Rs 139-147. The minimum investible lot for a retail investor is 102 shares. It needs a minimum application money of Rs 14,994. . An sNII category investor can bid for a minimum of 1,428 shares, while a bNII investor has to bid for 6,834 shares. The allotment date for JSW Cement shares is August 12, while listing is expected to take place on August 14. Shares will be credited to the demat account of successful bidders on August 13. Refund of application money to unsuccessful bidders will be done on the same day.
The company has seven plants including one integrated unit, one clinker unit and five grinding units. The locations of these units are Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, Odisha and West Bengal.
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