JSW Infrastructure Files IPO Papers With SEBI To Raise Up To Rs 2,800 Crore

The ports business of Sajjan Jindal-led JSW Group plans to raise Rs 2,800 crore via the IPO without diluting their current stake.

<div class="paragraphs"><p>File photo of the logo of JSW on the company's headquarters in Mumbai, India. (Photo: Danish Siddiqui/Reuters)</p></div>
File photo of the logo of JSW on the company's headquarters in Mumbai, India. (Photo: Danish Siddiqui/Reuters)

JSW Infrastructure Ltd., the ports business of the JSW Group, filed the draft red herring prospectus for its initial public offering with the Securities and Exchange Board of India on May 9.

IPO Details

The ports business of the Sajjan Jindal-led JSW Group plans to raise up to Rs 2,800 crore through the IPO route. The promoters of the company will not be diluting their current stake.

The company plans to use the proceeds to retire debt as well as fund capacity expansion.

The JSW Infrastructure IPO will be the third public listing by the JSW Group after the market debut of JSW Energy Ltd. in January 2010.

JM Financial Ltd., Axis Capital Ltd., Credit Suisse Securities (India) Pvt., DAM Capital Advisors Ltd., HSBC Securities and Capital Markets (India) Pvt., ICICI Securities Ltd., Kotak Mahindra Capital Co., and SBI Capital Markets Ltd. are the book-running lead managers.

KFin Technologies Ltd. is the registrar of the offer. The equity shares of the company are proposed to be listed on the BSE and NSE.

Company Details

JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonne per annum for multi-commodity cargo, including dry bulk, break bulk, liquid bulk, gases, and containers, as of Dec. 31, 2022.

The company's port business operations have expanded to nine port concessions as of Dec. 31, 2022. Additionally, the company is involved in the operation and maintenance of two ports in the U.A.E.—the Fujairah Terminal and the Dibba Terminal, which have a collective capacity of 41 mmtpa.


For the nine months ended Dec. 31, 2022, it handled a cargo volume of 66.70 million metric tonnes, according to the DRHP.

The company's revenue from operations stood at Rs 2,279.4 crore, while its net profit was Rs 447 crore. The company has a net debt of Rs 2,875 crore, as of Dec. 31, 2022.