JSW Infrastructure IPO
JSW Infrastructure Limited (JSWINFRA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 03 October 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +14.3% (likely range -4% to +30%), day's high +29.0%, chance of a gain 92%. Actual: +20.2% at the open, +32.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 7,43,36,284 | 4,24,36,96,632 | 57.1x | |
| NII (HNI) total | 3,71,68,141 | 59,41,72,278 | 16.0x | |
| Big NII (above ₹10 lakh) | 2,47,78,761 | 42,21,76,230 | 17.0x | |
| Small NII (₹2-10 lakh) | 1,23,89,380 | 17,19,96,048 | 13.9x | |
| Retail | 2,47,78,761 | 25,56,58,536 | 10.3x | |
| Total | 13,62,83,186 | 5,09,35,27,446 | 37.4x |
Bids on NSE and BSE together, as published by NSE, as of 27 Sep 2023, 07:00 PM. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to JSW Infrastructure's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Syrma SGS TechnologyAug 2022 | 87.6x | 17.5x | 5.53x | 32.6x | ₹911 Cr | +18.2% | +41.8% |
| ZomatoJul 2021 | 51.8x | 33.0x | 7.45x | 38.3x | ₹9,899 Cr | +52.6% | +82.8% |
| Electronics Mart IndiaOct 2022 | 62.3x | 24.5x | 12.8x | 29.4x | ₹527 Cr | +52.5% | +54.2% |
| Concord BiotechAug 2023 | 67.7x | 17.0x | 3.78x | 24.9x | ₹1,551 Cr | +21.5% | +33.3% |
| Uniparts IndiaDec 2022 | 67.1x | 17.9x | 4.63x | 25.3x | ₹836 Cr | -0.3% | 0.0% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Axis Capital | 107 | +20.4% | 73% |
| Credit Suisse Securities (India) | 11 | +15.6% | 82% |
| DAM Capital Advisors | 37 | +13.6% | 59% |
| HSBC Securities and Capital Markets (India) | 15 | +8.3% | 87% |
| ICICI Securities | 109 | +21.3% | 69% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the JSW Infrastructure IPO price band and lot size? ₹113–119 per share, with a lot of 126 shares, so the smallest retail bid is ₹14,994.
How many times has it been subscribed? 37.4x overall: QIB 57.1x, NII 16.0x, retail 10.3x.
How did it list? It opened at ₹143, +20.2% against the issue price of ₹119, and closed its first day +32.2%.
