JSW Infrastructure- Strong debut, lists over 20% premium; Should you hold or book profit-

JSW Infrastructure: Strong debut, lists over 20% premium; Should you hold or book profit?

JSW Infrastructure shares listed at 20.16% premium over the IPO price on bourses on Tuesday. The share debuted at Rs 143 on the NSE, as compared to the issue price of Rs 119. The investors have made a profit of Rs 24 per share as the scrip gave more than 20% returns to investors on the listing.

“The IPO was subscribed 37.37 times, which is a strong indication of investor interest. The company’s fundamentals are also strong, with consistent revenue and profit growth in recent years. Additionally, the company is well-positioned to benefit from the growing Indian economy. Overall, the listing of JSW Infrastructure was a success. The company’s strong fundamentals and good subscription levels were positive factors for this. Investors who participated in the IPO can hold on to their shares for the long term,” said Shivani Nyati, Head of Wealth, Swastika Investmart.

JSW Infra is the 2nd largest commercial port operator in India, handling 92.8 million MT in FY23 (43% CAGR over FY21-23). 63% of volumes is derived from JSW Group customers while the balance 37% is from 3rd party customers which it plans to further increase to achieve a balanced customer base. The company’s EBITDA rose at 31% CAGR (FY20-1QFY24) driven by volume growth.