JSW Infrastructure unveils ₹2,800 crore IPO at ₹113-119 price band
The Hindu
Commercial port operator JSW Infrastructure Ltd, a part of the JSW Group has announced its IPO to raise up to ₹2,800 crore. The price band has been fixed at ₹113 to ₹119 per equity share.
Commercial port operator JSW Infrastructure Ltd, a part of the JSW Group has announced its IPO to raise up to ₹2,800 crore. The price band has been fixed at ₹113 to ₹119 per equity share.
The IPO will open on September 25, 2023, for subscription and close on September 27, 2023. Investors can bid for a minimum of 126 equity shares and in multiples of 126 shares thereafter.
The objects of the issue are to prepay or repay ₹880 crore of its outstanding borrowings; finance capital expenditure requirements amounting to ₹865.75 crore for an LPG Terminal Project, ₹59.4 crore for setting up an electric sub-station, ₹103.88 crore for the purchase and installation of a dredger and finance ₹151.04 crore for the proposed expansion at Mangalore Container Terminal besides general corporate purposes.
JSW Infrastructure is a port-related infrastructure company which received initial cargo from the JSW Group as an anchor customer. In addition to partnering with JSW Group Customers, to pursue its growth strategies, the company has diversified its customer base to include third-party customers across geographies and has expanded its cargo mix by leveraging its locational advantage and maximising asset utilisation.
As of June 30, 2023, the company’s installed cargo handling capacity was 158.43 million tonnes per annum. The company provides maritime-related services including, cargo handling, storage solutions, logistics services and other value-added services to its customers.
