JSW Infra IPO opens 25 Sep; price band set at ₹113-119 apiece

livemint.com:

₹113 -119 per share for its initial public offering (IPO) which will open for bidding on 25-27 September, the company said on Monday. The Sajjan Jindal-led port business is looking to raise ₹2,800 crore through the IPO and will offer a fresh issue of shares as there will be no dilution of the promoter’s existing equity. According to an advertisement, Sajjan-Jindal and family trust hold the majority stake as the promoters.

JSW infrastructure is India’s second largest port operator in terms of cargo handling capacity as of FY23. The installed cargo handling capacity of the company stood at 158.43 million tonnes per annum for multi-commodity cargo, including dry bulk, break bulk, liquid bulk, gases, and containers. It has had a 40% growth in cargo volumes since FY20 with a cargo volume of 93 million tonnes as of 31 March 2023.

This will be the third public listing from the JSW Group, 13 years after JSW Energy Ltd went public in January 2010. The Sajjan Jindal-led JSW Group also operates cement, paints, venture capital and sports businesses. JM Financial Ltd., Axis Capital Ltd., Credit Suisse Securities (India) Private Ltd., DAM Capital Advisors Ltd., HSBC Securities and Capital Markets (India) Private Ltd., ICICI Securities Ltd., Kotak Mahindra Capital Company Ltd., and SBI Capital Markets Ltd.