JSW Infrastructure to launch Rs 2,800 crore IPO on September 25

| Leave a Comment | IPO

JSW Infrastructure, the port-related infrastructure company of the JSW Group, is all set to launch its initial public offering (IPO) on September 25. The IPO will consist of a fresh issue of Rs 2,800 crore and does not have an offer-for-sale component.

The public issue will close for subscription on September 27, while the anchor book, a part of QIB portion, will be opened for a day on September 22. The price band for the offer will be announced in the coming days.

The company will use the net proceeds from the fresh issue to repay debts amounting to Rs 880 crore, and Rs 1,029.04 crore will go towards expansion or upgradation works at Jaigarh Port, owned by subsidiary, JSW Jaigarh Port.

Further, the expansion at Mangalore Container Terminal (Mangalore container project) owned by subsidiary, JSW Mangalore Container Terminal, worth Rs 151.05 crore will be done via fresh issue proceeds. And the remaining amount will be used for general corporate purposes.

The JSW Group company has reserved 75 percent of the offer size for qualified institutional buyers (QIB), 15 percent for high networth individuals and the remaining 10 percent for retail investors.

JSW Infrastructure is the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-FY23. The company has expanded its operations from one port concession at Mormugao, Goa acquired by the JSW Group in 2002, to nine port concessions as of June 2023 across India.

The company’s installed cargo handling capacity in India grew at a CAGR of 15.27 percent during FY21-FY23 to 158.43 MTPA (million tonnes per annum) as of March FY23. During the same period, cargo volumes in India grew at a CAGR of 42.76 percent to 92.83 MMT (million metric tonne).

The basis of allotment of IPO shares will be finalised by the company in consultation with the BSE by October 3, and the shares will be credited to demat accounts of eligible investors by October 5. The Initiation of refunds (if any, for anchor investors) or unblocking of funds from ASBA account will take place by October 4.

The trading in the equity shares of JSW Infrastructure on the BSE and NSE will commence with effect from October 6.


Related News

  • 22 Sep

    Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits

    Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.

  • 22 Sep

    Signature Global IPO Subscribed 11.88 Times on Final Day

    The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.

  • 22 Sep

    Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding

    Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.

  • 22 Sep

    Pharma company Valiant Laboratories to go public on September 27

    Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.

  • 21 Sep

    Unihealth Consultancy makes tepid debut on NSE Emerge

    Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.

Leave a Reply

Your email address will not be published. Required fields are marked *