JSW Infrastructure, a JSW Group company, is trying to raise up to Rs 2,800 crore through an Initial Public Offering (IPO). This will be the JSW Group's first IPO since JSW Energy went public in 2010.
According to reports, the business plans to raise Rs 2,800 crore through the IPO, with the funds going towards debt repayment and future growth.
The funds will be used to pay off debt and fund capacity development projects at the company. JSW Infrastructure will be the JSW Group's third stock exchange listing, following JSW Energy and JSW Steel.
According to resources, the promoters would not dilute their current ownership, and JM Financial will serve as the lead banker for this public offering. JSW Infrastructure has a multi-commodity cargo handling capacity of 153.43 million tonnes per annum (MTPA) installed for dry bulk, broken bulk, liquid bulk, gases, and containers.
JSW Infrastructure had a net debt of Rs 2,875 crore as of December 31, 2022. In October-December 2022-23, the company earned Rs 447.2 crore in profit after tax (PAT) and Rs 1,268.6 crore in earnings before interest, taxes, depreciation, and amortisation (EBITDA). In addition, Sajjan Jindal's JSW Group is involved in cement, paints, venture capital, and sports.
In Fiscal 2022, JSW Infrastructure will be India's second largest commercial port operator in terms of cargo handling capacity.
JSW Infrastructure's port operations have grown from one Port Concession at Mormugao, Goa, acquired by the JSW Group in 2002 and begun operations in 2004, to nine Port Concessions across India as of December 31, 2022.
According to the sources, JSW Infrastructure promoters will not dilute their current stake. This public offering's primary banker is JM Financial. The JSW Group's Official Spokesperson, however, refuses to comment on the topic
