Investors give thumbs up to JSW Infrastructure

The month of September has been quite remarkable in terms of IPOs. This year, September witnessed a huge number of IPOs. In the month of October as well, there is currently one IPO connected to the main board. In addition to this, two companies listed their IPOs in the stock market today. Let’s first talk about the IPO of Plaza Wires, which remained open till 3rd October.

Plaza Wires
Plaza Wires is a company that manufactures electrical wires. Its IPO will remain open from September 29th to October 5th. The price band for this IPO is set at ₹51 – ₹54 per share. The company plans to raise ₹71.28 crore through the IPO. The company will receive ₹71.28 crore from the fresh issue. In the grey market, the company is trading at a premium of ₹23 per share. On October 3rd, this IPO was subscribed 27.80 times.

Valiant Laboratories
The Valiant Laboratories IPO, which opened on September 27th, has now closed for subscription. The price band for this IPO was set at ₹133-₹140 per share. The company planned to raise ₹152.5 crore through the IPO, and it will receive ₹152.5 crore from the fresh issue. On October 3rd, this IPO was oversubscribed 29.75 times. It is trading at a grey market premium of ₹15 per share.

JSW Infrastructure
Now, let’s talk about today’s listed IPO. JSW had a quite impressive listing. Despite negative market sentiment, the company’s shares were listed at a premium of 20% over the issue price. The issue price was ₹119 per share, and it opened at ₹143 per share on the NSE. This IPO was oversubscribed by a total of 39.36 times. The company has raised a total of ₹2,800 crore through the IPO. The share closed at Rs 157.30, a jump of 32.18% from issue price.

Manoj Vaibhav Gems ‘N’ Jewellers
Manoj Vaibhav Gems’ IPO has disappointed investors. The company’s shares were listed on the NSE at par with issue price at ₹215 per share. This IPO closed on September 26th and was oversubscribed by a total of 2.33 times. The company raised a total of ₹270.2 crore through the IPO. It’s worth noting that Manoj Vaibhav Jewellers is a prominent regional jewelry brand in South India.