JSW Infrastructure IPO:The stock market is hot due to continuous IPOs of companies. Big to small companies are coming up with their IPO. Now another company is coming with IPO. The IPO of JSW Infrastructure Company will open for subscription on September 25, while it will close on September 27.
The price band of JSW Infrastructure IPO has been fixed at Rs 113-119 per share. The IPO of a company of JSW Group led by Sajjan Jindal is coming after 13 years. The company will issue shares worth Rs 2,800 crore. JSW Group had filed the draft with SEBI in May this year.
JSW Infrastructure is the fastest growing port related infra company in terms of installed cargo handling capacity and cargo volume in FY 2021-23. This is the second domestic commercial port operator in the financial year 2023. The company’s business operations have expanded from one port concession at Mormugao Port Trust in Goa to nine port concessions on the east and west coast of India, making it a well-established port company.
The installed cargo handling capacity of nine port concessions by June 2023 is 158.43 MTPA. The company also handles two port terminals in the UAE under O&M agreements for a cargo handling capacity of 41 MTPA by June 2023.
The issue proceeds will be used for loan repayment, capital expenditure and other general corporate purposes. The company’s revenue from operations for the three months ending June 2023 increased 7 per cent year-on-year to Rs 878 crore, while net profit increased 68 per cent to Rs 322 crore.
Its installed cargo handling capacity in India grew at a CAGR of 15.27 per cent over FY 2021-23. During the same period, freight volume in India reached a CAGR of 42.76 percent. The offer is being made through a book-building process, where 75 per cent of the issue is reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors.
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