New Delhi, Sep 27 (PTI) The Initial Public Offering (IPO) of JSW Infrastructure, a part of the JSW Group, was subscribed 37.37 times on the last day of bidding on Wednesday.

The IPO received bids for 5,09,32,86,660 shares against 13,62,83,186 shares on offer, as per NSE data.

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The portion allotted for Qualified Institutional Buyers (QIBs) got subscribed 57.09 times while the quota for non-institutional investors received 15.99 times subscription.

The category for retail individual investors was subscribed 10.31 times.

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The IPO of up to Rs 2,800 crore had a price range of Rs 113-119 a share. The public issue was entirely a fresh issue of equity shares.

JSW Infrastructure on Friday collected Rs 1,260 crore from anchor investors.

Proceeds of the issue to the tune of Rs 880 crore will be used to repay debt, Rs 865.75 crore to finance capital expenditure requirements for an LPG terminal project, Rs 59.4 crore for setting up an electric sub-station, as per the circular.

Further, Rs 103.88 crore will be used for the purchase and installation of a dredger and Rs 151.04 crore for the proposed expansion at Mangalore Container Terminal, it said.

These apart, the proceeds will also be used for general corporate purposes.

JSW Infrastructure, a port-related infrastructure company, provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services to its customers.

JM Financial, Axis Capital, Credit Suisse Securities (India), DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets were the managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)