JSW Infrastructure Raises a Whopping Rs. 2800 Crore through IPO
JSW Infrastructure RaisesJSW Infrastructure Raises IPO
JSW Infrastructure, the infrastructure company of JSW Group owned by veteran industrialist Sajjan Jindal, is preparing for listing on the stock exchange. JSW Infrastructure, associated with the port business, is preparing to bring an IPO, for which the company has filed a draft paper (DRHP) with the stock market regulator SEBI (Securities and Exchange Board of India). The company is preparing to raise Rs 2800 crore through IPO.
With the amount of Rs 2800 crore to be raised through IPO, JSW Infrastructure will execute the expansion plan along with repaying the loan. The promoters of the company will not reduce their stake in this IPO. JM Financial is the lead manager of this IPO. In terms of cargo handling capacity, JSW Infrastructure was the second largest commercial port operator in the country in 2021-22 with a handling capacity of 153.43 million tonnes annually. By December 2022, the company has seen a 35 percent jump in cargo volume handling, 41 percent in revenue, 31 percent in operating profit and 30 percent in net profit.
In the year 2002, the company acquired a port at Mormugao in Goa, which started operations in 2004. By December 2022, the company has a total of nine ports. The company has operation and management contracts for two ports with a capacity of 41 million tonnes in West Asia.
This is the third company of JSW Group which will be listed on the stock exchange. Earlier, 13 years ago JSW Energy was listed in January 2010. Apart from this, JSW Steel and JSW Holdings are also listed on the stock exchange. The stock of JSW Steel is trading at Rs 721, JSW Energy at Rs 263 and JSW Holdings at Rs 4245. Apart from this, the group has recently ventured into the business of paints under the name of JSW Paints.
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