JSW Infrastructure is into Infrastructure Ports and is looking raise funds through Fresh Issue
JSW Infrastructure IPO Update:
Jsw Infrastructure Limited IPO: Mumbai based Jsw Infrastructure Limited established in the year 2006 and is into Infrastructure - Ports sector.
Company is promoted by Sajjan Jindal and Sajjan Jindal Family Trust. Pre-Offer Promoter and Promoter group stake in the company is 96.42%.
Jsw Infrastructure Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 2,800 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 2800 crores. JM Financial, Axis Capital, Credit Suisse Securities, DAM Capital, HSBC Securities and Capital Markets, ICICI Securities, Kotak Mahindra Capital, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 113 to Rs 119 with lot size of 126 shares and in multiples thereof. Objects of the issue is 1) Investment in wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited, for prepayment or repayment, in full or part, of all or a portion of certain of their outstanding borrowings amounting to Rs. 880 crores, 2) Investment in wholly owned Subsidiary, JSW Jaigarh Port Limited, for financing its capital expenditure requirements for proposed expansion/upgradation works at Jaigarh Port as follows: a) LPG Terminal Project - Rs. 868 crores b) setting up an electric sub-station - Rs. 59.4 crores c) purchase and installation of dredger - Rs. 102.5 crores, 3) Investment in wholly owned Subsidiary, JSW Mangalore Container Terminal Private Limited, for financing its capital expenditure requirements in relation to proposed expansion at Mangalore Container amounting to Rs. 151.6 crores., and 3) General corporate purposesand unidentified inorganic acquisitions.
IPO Dates:
IPO will open on September 25, 2023 and close on September 25, 2023. Tentative date of listing on stock exchanges is October 06, 2023
About Industry:
India’s port traffic in India is expected to grow by 8% to 9% in Fiscal 2023, compared to a growth of 4.9% in Fiscal 2022. Over Fiscals 2024 to 2028, growth at Indian ports is expected to be between 3% and 6%. The Sagarmala programme aims at enhancing India’s port capacity to over 3,300 MTPA by 2025. According to the Ministry of Shipping, this would include 2,219 MTPA of capacity at Major Ports and 1,132 MTPA at Non-Major Ports by 2024 -2025. Further, there is a positive outlook for the underlying industries of our customers engaged in the business of steel, power and cement.
Want to know more details about the IPO, please visit here Jsw Infrastructure Limited
Source: SEBI, BSE, NSE, DRHP, JSW Infrastructure, Industry Data
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