JSW Infra raises ₹1,260 crore through anchor investors
₹113 -119 and the bidding for the issue will be open from 25 to 27 September 2023, the company said in a press meet while announcing the IPO. “Some of the key details of the IPO are-the price band ₹113-119 with a bid lot of 126 shares, the total offer size ₹2,800 crore and the entire offering is primary," the company said.
“Market capitalisation of ₹25,000 crore at the upper end of the price band. The QIP portion will be 75% of the offer size which is ₹2,100 crore and of which 60% will be for anchor investors, HNI portion will be 15% i.e., ₹420 crore, retail portion will be 10% i.e., ₹280 crore," the company said, The Sajjan-Jindal-led port business, had earlier received the approval to launch its ₹2,800 crore initial public offering (IPO) and will be offering a fresh issue of equity shares as there will be no dilution of the promoter’s existing equity.
The company also disclosed that two marquee sovereign wealth funds of Singapore -- GIC & Fullerton -- participated in the anchor round, along with other well-known foreign investors in Morgan Stanley, HSBC Global, Theleme, Pictet, etc. The anchor book also saw participation from top mutual funds of the country like SBI MF, ICICI Pru MF, HDFC MF, Nippon MF, Birla MF, UTI MF, LIC MF, Franklin Templeton MF, Tata MF, Sundaram MF and leading insurance firms like SBI Life, Birla Life, Bajaj Allianz Life, Max Life, SBI General Insurance, etc.
Other prominent domestic investors included the likes of Shamyak Investment (Enam group firm led by Akash Bhansali), Premji Investment, Madhu Kela-led MK Ventures, Sunil Singhania-led Abakkus, etc., the company added. The company had a profit after tax (PAT) of ₹750 crore at the end of FY23 with a topline of ₹3,195 crore, while it reported
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