Saturday, September 12
Shares of JSW Cement stumbled on their first day of trading Thursday, sliding more than 5% from their opening price and erasing early gains that had topped grey-market expectations, in a muted debut for the Rs 3,600-crore offering.The stock listed at Rs 153 on the BSE, 4.1% above its IPO price of Rs 147, and at Rs 153.50 on the NSE, a 4.4% premium. But momentum quickly faded, with shares dropping to an intraday low of Rs 145.05 on both exchanges, down 5.2% and 5.5% respectively from their opening levels.The performance nonetheless beat the grey market premium of Rs 151 seen ahead of listing, which had implied a gain of around 3%.Solid IPO demand, muted popJSW Cement’s book-built IPO, which ran from August 7 to 11, drew 7.77 times subscription overall, fuelled largely by institutional dem
