JSW Infrastructure Mops Up Rs 1,260 Crore From Anchor Investors Ahead Of IPO

JSW Infrastructure allotted nearly 10.58 crore shares at Rs 119 apiece to 65 anchor investors.

<div class="paragraphs"><p>(Source:&nbsp;JSW Infrastructure website)</p></div>
(Source: JSW Infrastructure website)

JSW Infrastructure Ltd. has raised Rs 1,260 crore from anchor investors ahead of its initial public offering on Sept. 25.

The port-related infrastructure company allotted nearly 10.58 crore shares at Rs 119 apiece to 65 anchor investors.

The investors included the Government of Singapore, SBI Mutual Fund, Aditya Birla Sun Life Insurance, ICICI Prudential, Fullerton, Tata Mutual Fund, HDFC Mutual Fund, Nippon Life India, BNP Paribas Arbitrage, Think India Opportunities Master Fund, Morgan Stanley India Investment Fund, Bajaj Allianz, and Goldman Sachs (Singapore), among others.

The Government of Singapore and Theleme India Master Fund each secured 5.56% of the allocation, while Shamyak Investment got 6.35%.

Eleven domestic mutual funds have applied through a total of 28 schemes, the company said in an exchange filing. They have collectively netted close to 40% of the anchor portion.

SBI Mutual Fund, through four of its schemes, has secured an allocation of 6.35%, while ICICI Prudential netted a 6.36% allocation via three of its schemes.

JSW Infrastructure's Initial Share Sale To Open On Sept 25

About JSW Infrastructure IPO

JSW Infrastructure will launch its initial public offering on Sept. 25. The company plans to raise up to Rs 2,800 crore via a fresh issue.

It will comprise a fresh issue of 23.53 crore equity shares, and the price band is fixed in the range of Rs 113–119 per share.

Of the total proceeds, a sum of Rs 880 crore will be used to pay debt, while Rs 1,029 crore will be deployed for financing capital expenditure through investment in subsidiary JSW Jaigarh Port for expansion and upgrading works at Jaigarh Port and Rs 151 crore for investment in subsidiary JSW Mangalore Container Terminal for expansion.

JSW Infrastructure is the fastest-growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volume handled during FY21–FY23 and the second-largest commercial port operator in India in terms of cargo handling capacity in FY23.

The company provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services, to its customers and is evolving into an end-to-end logistics solutions provider.

JSW Infrastructure IPO To Open On September 25; Sets Price Band At Rs 113-119 Per Share