The IPO of JSW Energy Limited was subscribed. The support to the issue was on expected lines and the fact that the issue was over-subscribed is indeed commendable looking at the aggressive pricing by the company and its merchant bankers.
The details are as follows:-
| Category | Shares offered | Shares subscribed | Subscription |
| QIB’s | 11,96,31,921 | 34,50,93,480 | 2.8846 |
| Non institutional | 2,69,82,124 | 40,74,900 | 0.1510 |
| Retail | 8,09,46,371 | 3,27,04,260 | 0.4040 |
| Total | 22,75,60,416 | 38,18,72,640 | 1.6781 |
Retail investors are to get a discount of Rs 5 per share in this issue. Looking at the response to the IPO there would be tremendous pressure on the company and its merchant bankers in the price to be fixed for the issue. The price band which was Rs 100-115 will now weigh heavily on the company. It appears that the company would now fix a price closer on the lower half of the band and may be in the region of Rs 104 plus/minus a few rupees. This makes the possibility of a price in double digits a possibility for retail investors.
