Shares of JSW Cement made a positive debut on Monday, listing at ₹153.50 apiece — up 4.42% from the upper end of its IPO price band of ₹147.
The Mumbai-based cement maker’s IPO, open from August 7 to August 11, was priced in the range of ₹139-147 per share with a lot size of 102 shares. The company raised ₹3,600 crore, comprising a fresh issue of ₹1,600 crore and an offer-for-sale of ₹2,000 crore (13.60 crore shares).
The issue saw an overall subscription of 7.77 times, with QIBs subscribing 15.80 times, NIIs 10.97 times, and retail investors 1.81 times. Employee quota was also fully subscribed.
Analysts note that the brand’s strong recall and stable demand outlook helped deliver a good listing despite modest oversubscription.
