Here are the signs from the grey market premium for the JSW Infra shares that will list on Tuesday.

JSW Infrastructure offered its shares between September 25 and September 27 in a price range of Rs 113 and 119 per share, with a minimum lot size of 126 shares.

On Tuesday, Dalal Street will be the first place where shares of JSW Infrastructure will be sold. If signs from the grey market are any indication, the company is likely to have a good listing gain after a string of weak ones. The company will go public on Dalal Street two business days after its IPO bidding ends.

Last I heard, JSW Infra was selling for a premium of Rs 25–30 on the grey market. This means that its listed price of Rs 119 would give it a gain of 23–25 percent. Due to the high number of subscriptions, the price on the grey market has gone up from Rs 15 to Rs 18 per share over time.

Analysts who watch the primary markets and grey markets say that JSW Infra is likely to have a strong debut and is a good long-term bet because it has strong parents, a strong business plan that is growing, and growth prospects in the coming years.

The subscription for JSW Infrastructure was respectable, and we anticipate a respectable listing for the issue. We think that the IPO will open at a price that is about 20% higher than the issue price. Parth Shah, a Research Analyst at StoxBox, said, “The company has a strong parent in JSW Group, which has a presence in many areas in India. We think the price of the IPO is fair.”

“In addition to working with JSW Group customers on their growth strategies, they have expanded their customer base to include third-party customers in different parts of the world and widened their cargo mix by taking advantage of their locational advantage and making the most of their assets,” the report said, adding that investors should hold on to the stock for the long term and buy dips in the counter.

JSW Infrastructure sold its shares for between Rs. 113 and Rs. 119 per share, and each lot contained 126 shares. Between September 25 and September 27, people could bid on the Rs 2,800 crore offer. The organisation run by Sajjan Jindal got all of the money by selling new shares of stock.

Overall, 37.37 times as many people bought into the issue as there were shares available. This was due to strong bids from qualified institutional bidders (QIBs), whose share was booked 57.09 times. During the three-day bidding process, the amount set aside for non-institutional investors was bid on 15.99 times, while the amount set aside for regular investors was bid on a little more than 10.32 times.

JSW Infra offers services related to the sea, such as logistics services, storage options, and handling of cargo. It builds and runs ports and port terminals under long-term port contracts, like 30 to 50 years. In terms of the amount of cargo it can handle, JSW Infra is the second biggest commercial port operator in the country. It was founded in 2006.

The issue was handled by JM Financial, Dam Capital Advisors, Credit Suisse Securities (India), HSBC Securities & Capital Markets, Axis Capital, ICICI Securities, Kotak Mahindra Capital, and SBI Capital Markets. Kfin Technologies was the registrar for the IPO of JSW Infra.

Ajith Kumar

Ajith Kumar

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