Rs 2,800 crore public issue of JSW Infrastructure to open this month
JSW Infrastructure, the ports division of JSW Group, is likely to commence public subscription by the end of this month, according to bankers. The company has filed its red herring prospectus with the Registrar of Companies.
JSW Infrastructure's forthcoming public offering marks a significant milestone as the first public listing from the JSW Group in nearly 13 years.
JSW Infrastructure had filed the draft red herring prospectus for its initial public offering with Sebi in May 2023. The IPO, consisting entirely of fresh shares, will serve as a means to partially retire existing debt obligations and fund future expansion projects.
It will be the third company of the JSW Group to be listed through the IPO route after JSW Steel and JSW Energy.
For the year ended March 31, 2023, the company handled a cargo volume of about 93 million metric tons (MMT). The company reported a revenue from operations of Rs 3,195 crore in FY23, while its net profit stood at Rs 750 crore.
JSW Infrastructure became India's second-largest commercial port operator in terms of cargo handling capacity by the end of FY23.
