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Half of the public issue size has been reserved for qualified institutional buyers (QIB), 15 per cent for non-institutional investors, and the remaining 35 per cent for retail investors. Out of the QIB portion, up to 60 per cent of the portion is set aside for anchor investors.

“We have participated in two to three small tenders, but the bulk will start coming out maybe in another five-six months and those will be delivered in the next five to six years, four to five years’ timeframe. This is a huge opportunity for RailTel also. There are also a couple of opportunities, that are due shortly. We will participate in those tenders. I cannot give a number, but we will clinch something not very big but in the next six months, we can expect orders worth roughly Rs 150-200 crore.”

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The achievement of surpassing the 20-day SMA is a notable technical milestone for these midcap stocks, often indicating short-term positive trends.

The stock quoted a 52-week high price of Rs 4601.9 and low of Rs 3292.65.

The IPO, which is the first from JSW Group in nearly 13 years, is completely a fresh issue worth Rs 2,800 crore. The company filed a draft prospectus with Sebi in May this year and received approval for the same a few days back.

A total of 47,004 shares changed hands on the counter till 01:59PM (IST)

On the technical charts, the 200-day moving average of the stock stood at Rs 1649.67.

The company has fixed a price band of 938-1035 per share, where investors can bid for 14 shares in one lot. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 35% for retail investors.