Shares of JSW Infrastructure became the latest debutante of Dalal Street to get a listing premium as the stock was listed at Rs 143 on both BSE and NSE, 20 per cent above its issue price.
Shares of JSW Infrastructure became the latest debutante of Dalal Street to get a listing premium as the stock was listed at Rs 143 on both BSE and NSE, 20 per cent above its issue price.Shares of JSW Infrastructure saw a strong debut on Tuesday and the counter was locked in an upper circuit on its maiden trading session. The JSW Group entity delivered a decent listing pop on debut but the gains were lesser-than-expected.
Shares of JSW Infrastructure became the latest debutante of Dalal Street to get a listing premium as the stock was listed at Rs 143, a little more than 20 per cent higher over its issue price of Rs 119. The grey market was signaling a listing pop of around 25 per cent.
Following the listing, shares of JSW Infra saw some initial profit book just before investors rushed to buy the stock. The JSW Group entity was locked in the upper circuit of 10 per cent at Rs 157.30 apiece, extending the overall gains to 32 per cent over the given issue price.
Analysts are mostly positive on the stock even after the debut considering the strong parentage, robust demand for the company during the IPO and post listing and growth prospects of the business. They suggest investors hold it for a longer run and accumulate the stock on dips.
JSW Infra is a fast-growing port related infrastructure company, with significant market share, diversified operations in terms of cargo profile; geography and assets, said Mahesh M, Ojha, AVP – Research at Hensex Securities. "With its Strong financial metrics and growing margin profile, it shows good growth prospects," he added with a suggestion to hold the stock for a longer run.
JSW Infrastructure IPO was sold in the range of Rs 113-119 per share with a lot size of 126 shares between September 25 to September 27. The company raised a total of Rs 2,800 crore from its primary stake sale, which was entirely a sale of fresh equity shares. The issue was overall subscribed 37.37 times, thanks to strong demand from qualified institutional bidders (QIBs). The IPO was subscribed 37.37 times, which is a strong indication of investor interest. The company's fundamentals are also strong, with consistent revenue and profit growth in recent years. The company is well-positioned to benefit from the growing Indian economy, said Shivani Nyati, Head of Wealth at Swastika Investmart.
"Overall, the listing of JSW Infrastructure was a success. The company's strong fundamentals and good subscription levels were positive factors for this. Investors who participated in the IPO can hold on to their shares for the long term," she suggested.
The Sajjan Jindal-led JSW Infrastructure provides maritime-related services, including cargo services, storage solutions and logistics services. It develops and operates ports and port terminals under port concessions for a long-term- 30-50 years period. It is the second largest commercial port operator in the country in terms of cargo handling capacity as of FY23.
Prashanth Tapse, Senior VP (Research), Mehta Equities strongly believes that the JSW Infra gives investors a long-term opportunity to invest in the fastest-growing port-related infrastructure company and second largest port operator in terms of cargo handling in India. Being an JSW Group entity, it gets vital support and synergies with the group's growing businesses, he said. "Based on annualized FY24 earnings and fully diluted post-IPO paid-up capital, JSW Infra is asking price a P/E of 19 times on the consolidated basis which seems the valuations are reasonably priced, we recommend allotted investors 'hold for long term', while those who failed to get allotment can accumulate on the listing day for holding it for healthy long term returns," he added.Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
'Not seeing enough churn in our business elite': Sanjeev Sanyal on why millionaires are leaving India
Power trading overhaul: CERC eyes fee rationalisation as market coupling nears 2026 rollout
PMO directs Coal India to list all 8 subsidiaries by 2030 to boost governance, transparency
Rs 11,000 crore IPO plan: Zepto files confidential papers with Sebi
'Not govt land, was bought for a campus': Mohandas Pai clarifies Infosys' Rs 250-crore land sale in K'taka
Telecom Duopoly At Work: Why Bharti Airtel And Indus Towers Look Well Placed
How 2025 Became The Year Indian Banking Regulation Was Reset
Gold & Silver Long-Term Outlook: How Should Investors Position After The Big Rally?
Looking For Alpha? New-Age Stocks To Watch In 2026
2026 Market Outlook: Nifty & Sensex Poised For Major Breakout?
PMO directs Coal India to list all 8 subsidiaries by 2030 to boost governance, transparency
'Asset prices are likely to peak in 2026': Hedge fund manager points to 100-year market patternRs 11,000 crore IPO plan: Zepto files confidential papers with Sebi
PNB, MCX, Coforge, Shree Cement, Timex Group among stocks in focus next week; here's why
Vikran Engineering bags over 1,000 MW solar orders in a week; stock in focus on Monday