IPO Watch: The initial public offering (IPO) of JSW Group company JSW Infrastructure received 2.13 times response on Tuesday, the second day of bidding. According to NSE data, bids have been received for 29,02,18,698 shares against 13.62 crore shares offered under the issue.
Retail investors category received 4.52 times subscription while the quota reserved for non-institutional investors received 3.70 times subscription. Whereas the Qualified Institutional Buyers (QIB) segment got 55 percent subscription. On Friday, before the issue opened, JSW Infrastructure had raised Rs 1,260 crore from anchor investors.
Know about JSW Infrastructure IPO
Completely fresh shares have been issued in the IPO and the price band for the IPO has been fixed at Rs 113-119 per share. Through this the company plans to raise up to Rs 2,800 crore. Through the funds raised from the IPO, JSW Infrastructure will use the capital for repayment of its loans, establishment of new projects and expansion of the company besides general company working needs.
Manoj Vaibhav James N Jewelers’ IPO got 2.25 times subscription
The Initial Published Offering (IPO) of jewelery maker firm Manoj Vaibhav James N Jewelers received 2.25 times subscription on the last day of bidding on Tuesday and the issue has closed today. According to NSE data, bids were received for 2,05,05,627 shares against the offer of 91,20,664 shares made under the share sale.
The non-institutional investors segment received 5.18 times subscription while the retail individual investors (RII) segment received 1.66 times subscription. The quota earmarked for Qualified Institutional Buyers (QIB) has also received subscription of 1.06 times. The company had raised Rs 81.05 crore from anchor investors on Thursday before the issue opened.
Under the IPO, fresh issue of up to Rs 210 crore and sale of 28,00,000 equity shares was offered. The price band for this offering was kept at Rs 204-215 per share. The funds raised from the IPO will be used for opening 8 new showrooms and general company workings.
What does Manoj Vaibhav James N Jewellers
Manoj Vaibhav Gems & Jewellers, operating as a regional jewelery brand in South India, has its presence in Andhra Pradesh and Telangana. It has 13 showrooms in both the states.
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