JSW Cement IPO Day 2 Live: Issue booked 56%. Check GMP, subscription status, review, more | Stock Market News

JSW Cement IPO Day 2 Live: On the first day of bidding on Thursday, the initial public offering of JSW Cement Ltd, a part of the diverse JSW Group, garnered a subscription rate of 29%. By the end of the second day, it was booked 56%.

The portion reserved for Retail Individual Investors (RIIs) saw a subscription of 36%, while the segment for Qualified Institutional Buyers (QIBs) attracted a 23% subscription. The share allocated for non-institutional investors was covered by 20%.

On Wednesday, JSW Cement secured ₹1,080 crore from anchor investors.

The company has established a price range of ₹139-147 per share, which values the 17-year-old firm at ₹20,000 crore at the higher end of the price range.

JSW Cement IPO, which features a fresh issuance of ₹1,600 crore worth of shares and an additional ₹2,000 crore of shares to be sold by existing shareholders through an Offer-For-Sale (OFS), will close on August 11.

As part of the OFS, private equity leader Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, along with Synergy Metals Investments Holding Ltd and the State Bank of India (SBI), will be unloading shares.

The company intends to allocate ₹800 crore from the proceeds to partially fund a new integrated cement facility in Nagaur, Rajasthan, and ₹520 crore for debt repayment, with the remaining funds earmarked for general corporate uses.

(Stay tuned for more updates)