Sajjan Jindal JSW Cement, the unit of the diverse JSW Group enforced by, is set to introduce its initial public issue (IPO) of Rs 3,600 crore on August 7. However, according to the recent draft of the documents, the total size of this issue is lower than the first proposed issue of Rs 4,000 crore. According to RHP filed on Friday, the IPO will open for public subscription on August 7 and will close on August 11. Anchor (big) investors will be able to bid on August 6. Initial share sales include a new issue of equity shares worth Rs 1,600 crore and sales offers of shares up to Rs 2,000 crore by investor shareholders.
Where will the IPO money be invested?
As a part of OFS, private equity giant Apollo Management, will sell shares worth Rs 931.80 crore, through its colleague AP Asia Opportunistic Holdings Private Limited. Synergy Metals Investments Holding Limited will sell shares worth Rs 938.50 crore and State Bank of India (SBI) will undertake shares worth Rs 129.70 crore. According to the draft documents, the company will use an amount of Rs 800 crore for partial financing of a new integrated cement unit in Nagaur, Rajasthan and for prior payment or repayment of Rs 520 crore outstanding loans. The remaining amount will be used for general corporate purposes.
Earlier plan was to raise 4000 crores
The Mumbai -based company had planned to raise Rs 4,000 crore earlier. However, according to the latest documents, the amount of capital raising from the new issue has been cut by Rs 400 crore.
NSDL’s IPO gets 41 times
The initial public offering (IPO) of the National Securities Depository Limited (NSDL) received 41 times the last day of the bid on Friday. According to the data available with the NSE, in the initial public issue of Rs 4,011 crore, bids for 1,44,03,92,004 shares were received against 3,51,27,002 shares, which is 41.01 times the glory. The eligible institutional buyers (QIB) got 103.97 times subscriber. The category of non-institutional investors received 34.98 times subscription and retail individual investors (RII) received 7.73 times subscription. National Securities Depository Limited on Tuesday raised more than Rs 1,201 crore from anchor investors. The price scope of IPO is Rs 760-800 per share.
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