Mumbai, Dec 8 : Power producer JSW Energy's Rs 2,700-crore public offer got over-subscribed 1.48 times today, thesecond day of issue, with most bids coming from qualifiedinstitutional buyers.
The initial public offer (IPO) received bids for 33.75crore equity shares against 22.75 crore shares on the offerfor public, the latest data with the National Stock Exchange(NSE) shows.
In qualified institutional buyers category the issue gotsubscribed 2.77 times of the reserved portion, whereas in noninstitutional investors category it got bids for 14.78 lakhstocks against 2.69 crore equities reserved for them, as perNSE data.
JSW Energy has entered into capital market with its IPOin the price band of Rs 100-115 and expects to garner up to Rs2,700 crore. The issue closes on December 9.
The IPO proceeds will be utilised for investment of aboutRs 2,140 crore in project SPVs and repayment of corporate debtof Rs 480 crore.
Last week, the company raised Rs 464.86 crore through theissue of shares to seven anchor investors, including RelianceCapital Trustee and Credit Suisse Singapore Ltd at a price ofRs 110 per piece.
J M Financial Services, SBI Cap Securities and ICICISecurities are acting as the book running lead managers forthe issue.
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