JSW Infrastructure IPO To Open On September 25; Know IPO Size, Share Price, Review And Other Details

JSW Infrastructure, which is the ports business of Sajjan Jindal-led JSW Group, is all set to hit Dalal Street on September 25. The issue will close on September 27.

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This is the first IPO by JSW Group in nearly 13 years and is a complete fresh issue worth Rs 2,800 crore. The company had filed draft papers in May this year and got market regulatory approval a few days ago.

The company will soon announce the share price for their IPO. The company plans to utilize the net proceeds towards repayment of the debt, financing capital expenditure, and other general corporate purposes.

JM Financial, Axis Capital, Credit Suisse Securities, DAM Capital Advisors, HSBC Securities, ICICI Securities, Kotak Mahindra Capital, and SBI Capital are the bankers on the issue. KFin Technologies is the registrar.

The offer is being made through a book-building process where 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

JSW Infrastructure has exhibited remarkable growth in installed cargo handling capacity and cargo volumes managed during FY21-23, establishing itself as the fastest-growing company in the port-related infrastructure sector. Moreover, in FY23, it secured the position of the second-largest domestic commercial port operator based on cargo handling capacity.

The company saw its revenue from operations jump 7% year-on-year (YoY) to Rs 878 crore, while net profit grew 68% to Rs 322 crore, for the three months ended June 2023. 

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Its installed cargo handling capacity in India grew at a CAGR of 15.27% from FY21-23. During the same period, the cargo volumes handled in India jumped at a CAGR of 42.76%.