JSW Infra seeks expansion plans via IPO

11 May 2023 CW Team

JSW Infrastructure, owned by Sajan Jindal, has filed a preliminary filing with the capital market regulator Sebi to raise up to Rs 2.8 billion through an initial public offering (IPO) to repay its debt and support its expansion plans. JSW Infrastructure will become the third listed company in the JSW Group, following JSW Energy and JSW Steel.

The JSW Group port operator submitted the DRHP on 9 May. According to the draft, the IPO will simply be a reissue of shares without an offer to sell (OFS) element, and the promoters will not dilute their current profits through the offering. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP).

JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers.

The company reported a profit after tax (PAT) of Rs 447.2 million and a profit before interest, tax, depreciation and amortization (EBITDA) of Rs 1,268.6 million for October 2022 to December 2023.

JM Financial Limited, Axis Capital Limited, Credit Swiss Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited are this document. . - Run Lead Manager.

The shares are proposed to be listed on the BSE and NSE.

Additionally, his JSW group, part of Sajan Jindal, is also active in the fields of cement, paints, venture capital and sports.

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