JSW Cement's IPO Performance: A Stellar Start with 56% Subscription

JSW Cement Ltd's initial public offering (IPO) saw a strong response, reaching 56% subscription by the second day of bidding. Data from the NSE indicates that investors bid for over 10 crore shares out of the 18 crore on offer.

The IPO secured 72% subscription from retail individual investors, while non-institutional investors subscribed to 62%. However, qualified institutional buyers showed slightly less interest, subscribing to just 24%.

With a price band set between Rs 139-147 per share, JSW Cement aims to raise Rs 1,600 crore through fresh share issuance, while current shareholders plan to sell Rs 2,000 crore worth of shares via an Offer-For-Sale. The funds will support a new cement facility in Rajasthan and reduce debt.

(With inputs from agencies.)