JSW Energy's Rs2,700-crore IPO fully subscribed

The Rs2,700 crore ($583 million) initial public offer of Sajjan Jindal group power company JSW Energy was fully subscribed within half an hour of its opening for subscription on Monday.

The equity offer, at a price of Rs100-115 a share, was subscribed 1.2 times by 11.30 am, data from the National Stock Exchange showed.

The public issue, which opened for subscription today, will close on Wednesday, 9 December.

The company has offered to give a discount of Rs5 per share to retail investors pursuant to completion of the book building process.

The anchor investors' portion in JSW Energy's public issue has already been subscribed to the tune of Rs464.87 crore, at Rs110 per equity share, on 4 December. The company has allocated 4,22,60,820 equity shares to these investors.

Among anchor investors, Eton Park International LLP will receive 17.4 million shares Valiant Mauritius 401.7 million shares, Deutsche Securities Mauritius 669.5 million shares, Credit Suisse Singapore 434.7 million shares, Highfields Capital Management 399.9 million shares, Valiant Mauritius Partners Offshore 267.8 million shares and Reliance Capital Trustee 304.3 million shares.