- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
JSW Infra IPO Gets Robust Listing, Vaibhav Jewellers Misses A Chance To Shine Big
JSW Infrastructure, the provider of maritime-related services including cargo handling, storage solutions and logistics services, opened for public subscription on 25 September 2023
Photo Credit :
In the Preponed listing, JSW Infra listed with 20 per cent premium at Rs 143 on Tuesday. The upper price band of the public issue was fixed at Rs 119. This also marked the first IPO from the JSW Group in 13 years after JSW Energy listed in 2010.
JSW Infrastructure, the provider of maritime-related services including cargo handling, storage solutions and logistics services, opened for public subscription on 25 September 2023.
In the financial year 2022-23, the company reported a total revenue of Rs 3,372 crore, compared to Rs 2,378 crore in the previous fiscal. The net profit for the same period reached to Rs 749 crore, increased from Rs 330 crore in FY22.
The firm plans to utilise the fund for capital expenditure, repayment of outstanding borrowings and other general purposes.
“The IPO was subscribed 37.37 times, which is a strong indication of investor interest. The company's fundamentals are also strong, with consistent revenue and profit growth in recent years. Additionally, the company is well-positioned to benefit from the growing Indian economy. Overall, the listing of JSW Infrastructure was a success. The company's strong fundamentals and good subscription levels were positive factors for this. Investors who participated in the IPO can hold on to their shares for the long term.” stated Shivani Niyati, Head of Wealth, Swastika Investmart.
Manoj Vaibhav Gems IPO
Vaibhav Jewellers made a fragile debut on the exchanges at Rs 215, listing at par with its issue price of Rs 215.
The initial public offering issue was subscribed to 2.25 times, with the high-net-worth quota subscribed to 5.18 times. Qualified institutional investors and individual investors were largely uninterested, with the issue subscribed to just 1.06 times and 1.66 times, respectively.
“The IPO received a muted response, and it was subscribed to only 2.25 times. This could be due to a number of factors, including the high IPO price, the company's relatively small size, and the competitive jewellery market. Overall, the listing of Manoj Vaibhav Gems and Jewels was in line with expectations. Investors who received allotments in the IPO should consider exiting their position.” said Niyati.