The well-known JSW Group is bringing another company to the public market with the JSW Cements IPO. Official dates have been announced for this main board IPO, which requires a minimum application amount of ₹15,000. This article will provide essential information about the IPO, including its schedule and initial insights into the Grey Market Premium (GMP).
JSW Cements IPO: An Overview
The JSW Cements IPO is structured as a book-building issue and will be listed on both the BSE and NSE. The company’s face value per share is set at ₹10, which may not show high liquidity. The total issue size for the JSW Cements IPO is approximately ₹3600 crore. This includes a fresh issue component of ₹1600 crore, with funds going directly to the company. Additionally, there is an Offer for Sale (OFS) of approximately ₹2000 crore, allowing promoters and existing shareholders to dilute their stakes.
Key Dates for JSW Cements IPO
The JSW Cements IPO is scheduled to open for subscription on August 7th. The closing date for this IPO will be August 11th. Investors will have three days to apply for the IPO: August 7th, August 8th, and August 11th. While the official price band has not yet been released, it is expected to be announced on Monday.
Issue Details and Allocation
As a well-known group company, the JSW Cements IPO will distribute its shares across different investor categories. Fifty percent (50%) of the total shares will be reserved for Qualified Institutional Buyers (QIBs). For retail investors, thirty-five percent (35%) of the shares will be reserved. Due to the company’s strong backing and the 35% allocation for retail investors, applying through multiple Demat accounts (family members, friends) could potentially increase the chances of allotment. The company expects to set a good valuation in its official price band, which could lead to positive momentum in the Grey Market Premium.
Grey Market Premium (GMP) Insights
Currently, there is no significant activity in the Grey Market Premium (GMP) for JSW Cements IPO. This is primarily because the company’s official or tentative price band has not yet been released to the market. Once the official price band is announced, expected on Monday, market activity for the GMP is anticipated to pick up. An earlier IPO from the same group, JSW Infrastructure, provided a decent listing gain, suggesting potential for good momentum from JSW Cements IPO as well, especially if the valuation is well-received.
Allotment and Listing Schedule
Following the application period, the information regarding allotment status for the JSW Cements IPO is expected around August 12th. For those who are not allotted shares, refunds are scheduled to be processed by August 13th. On the same day, August 13th, shares will be credited to the Demat accounts of successful applicants. The JSW Cements IPO is slated to list on both BSE and NSE on August 14th.
