Upcoming IPO News: The company has set a price bank of Rs 113 to 119 per share for its IPO. This offer of JSW Infrastructure Limited will close two days after its launching i.e. on 27th September.
In the last 3 months many companies have launched their IPOs. Now JSW Infrastructure Limited is also going to join this series. The company has announced the price band on Monday (September 18) for its IPO, which will open for subscription on September 25 next week.
The company has set a price bank of Rs 113 to Rs 119 per share for its IPO. This offer of JSW Infrastructure Limited will close two days after its launching i.e. on 27th September.
Describing the key points related to its IPO, the company said that the price band of the IPO has been set between Rs 113 to Rs 119, where investors can bid for 126 shares in one lot. The total size of this offer is Rs 2,800 crore, which is a completely fresh issue. The market capitalization of the company at the upper price band of the IPO at the time of listing is expected to be Rs 25,000 crore.
About 75 per cent (Rs 2,100 crore) of the offer will be reserved for Qualified Institutional Buyers (QIP), of which 60 per cent will be for anchor investors only. Apart from this, 15 percent (Rs 420 crore) of the offer will be reserved for high-net-worth individuals (HNI) and 10 percent (Rs 280 crore) for retail investors.
Plan to raise Rs 2800 crore
Sajjan Jindal-led port business is planning to raise Rs 2,800 crore from this fresh issue of IPO. However, Sajjan Jindal and Family Trust holds 96.5 percent stake in the company. At present they are not selling their shares.
JSW Infrastructure is India’s second largest port operator in terms of cargo handling capacity by financial year 2022-23. The company’s installed cargo handling capacity per year was 158.43 million tonnes for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gas and containers. There has been an increase of 40 percent in cargo volume since the financial year 2020, whereas till March 31, 2023, the cargo volume of the company was 93 million tonnes.
Jindal Group’s third listing
This will be the third public listing of JSW Group after the IPO of JSW Energy Limited in 2010, almost 13 years ago. This company headed by Sajjan Jindal operates cement, paint, venture capital and sports business. The company had reported a profit after tax (PAT) of Rs 750 crore at the end of FY 2013 with a topline of Rs 3,195 crore.
The participants in the offer were JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets. Limited Book Running Lead Manager.