JSW Infra in a race to buy 3 ports

20 Sep 2023 CW Team

JSW Infrastructure, the ports division of the JSW Group led by Sajjan Jindal, has submitted bids totaling Rs 2,000 crore to acquire three ports as part of the government's privatization initiative. This strategic move is expected to bolster the company's capacity by an additional 10-12%. In a separate development, the company, which ranks as the second-largest commercial port operator in the country based on cargo handling capacity, has announced a pricing range of Rs 113-119 per share for its upcoming initial public offering (IPO) valued at Rs 2,800 crore. The IPO will open on Monday, September 25, and conclude on Wednesday.

Arun Maheshwari, the Joint Managing Director and CEO of JSW Infrastructure shared insights on the company's plans, stating, "Post this IPO, we will be net-debt free, we will have enough headroom to grow, and if required, we can raise additional capital also. So, we have placed bids for three ports that are coming up for privatization."

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