JSW Energy, a part of Sajjan Jindal-led JSW Group, has started the day above its issue price, which was way above the markets expectations. It opened at Rs 102 and has touched an intraday high of Rs 106.40 on the BSE while the markets expected it to list below its issue price.
At 9:06 hours IST, the stock was trading at 104.50, up 4.5% over its issue price of Rs 100 per share on the BSE and up 3.75% at Rs 103.75 on the NSE.
On the NSE, it opened at Rs 106 per share and touched a day's high of Rs 106.35. Its turnover was at Rs 125 crore.
For retail investors, issue price was fixed at Rs 95 per share, at a discount of Rs 5 to the original issue price.
The initial public offering (IPO) of JSW Energy was subscribed 1.68 times, as per data available on the NSE website.
It intends to utilise the issue proceeds for partially financing construction and development of the Identified Projects aggregating to 2,790 MW in capacity & 400 KV transmission project and mining venture (at cost of Rs 2,142.53 crore) and repayment of corporate debt (Rs 470 crore).
JSW Energy is an established energy company with 860 megawatts, or MW, of operational generating capacity and 2,790 MW of generating capacity in the construction or implementation phase, 135 MW of which has been commissioned.
Courtsey moneycontrol.comJSW Energy IPO Listing
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