JSW Cement share price: Stock makes tepid debut at 4.4% premium; here's how much investors gained

JSW Cement share price: Shares of green cement manufacturer JSW Cement made a tepid debut on the stock exchanges on Thursday, August 14.

The stock listed at ₹153.50 per share on the National Stock Exchange (NSE), reflecting a premium of 4.42% over the issue price of ₹147.

On the BSE, it started trading at ₹153, up 4.08%.

JSW Cement share price: Here's how much investors gained

The JSW Cement IPO was subscribed 7.77 times, securing bids for 1,40,93,19,924 equity shares as against 18,12,94,964 shares on offer, as per the consolidated data on BSE.

Qualified institutional buyers booked the portion set aside for them 15.80 times, while the non-institutional investors' quota was subscribed 10.97 times. The category for retail individual investors was subscribed 1.81 times.

The ₹3,600 crore initial public offering, which was a fresh issue of ₹1,600 crore and an offer for sale of ₹2,000 crore, had set a price band of ₹139 to ₹147 per share.

The objects of the issue include partially funding a new integrated cement plant in Rajasthan, debt clearance and corporate general purposes.

JM Financial, DAM Capital Advisors, Citigroup Global Markets India, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets were the IPO's book-running lead managers.

JSW Cement financials

JSW Cement is engaged in manufacturing green cement and runs seven plants across the country.