JSW Infra raises ₹1,260 Cr from anchor investors

JSW Infra raises ₹1,260 Cr from anchor investors

JSW Infrastructure Ltd is gearing up for its much-anticipated initial public offering (IPO), setting the stage with a competitive price band of ₹113 to ₹119. The bidding window for this exciting opportunity opens from September 25th to September 27th, 2023, as confirmed during a press conference held by the company to unveil the IPO.

Key Highlights of the JSW Infra IPO:

  • Price Band: ₹113 to ₹119 per share
  • Bid Lot: 126 shares
  • Total Offer Size: ₹2,800 crore
  • Entire Offering: Primary shares
  • Market Capitalization: Estimated at ₹25,000 crore (at the upper end of the price band)
  • QIP Portion: 75% of the offer size, equivalent to ₹2,100 crore
  • Anchor Investors: 60% of the QIP portion allocated to anchor investors
  • HNI Portion: 15%, totaling ₹420 crore
  • Retail Portion: 10%, equivalent to ₹280 crore

JSW Infrastructure, a venture led by Sajjan Jindal, has received the green light to launch its ₹2,800 crore IPO, which exclusively consists of fresh issue equity shares. Importantly, this offering will not dilute the promoter’s existing equity.

In a noteworthy development, two prominent sovereign wealth funds based in Singapore, GIC and Fullerton, actively participated in the anchor round. They were joined by a stellar lineup of well-established foreign investors, including Morgan Stanley, HSBC Global, Theleme, and Pictet.

The anchor book also saw enthusiastic participation from India’s leading mutual funds, such as SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, Birla Mutual Fund, UTI Mutual Fund, LIC Mutual Fund, Franklin Templeton Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, as well as renowned insurance companies like SBI Life, Birla Life, Bajaj Allianz Life, Max Life, and SBI General Insurance.

Domestic investors of high repute, including Shamyak Investment (an Enam Group firm led by Akash Bhansali), Premji Investment, MK Ventures (led by Madhu Kela), Abakkus (led by Sunil Singhania), and more, also joined this exciting investment journey with JSW Infrastructure.

As of the end of FY23, JSW Infrastructure boasted a profit after tax (PAT) of ₹750 crore, backed by a robust topline of ₹3,195 crore. Impressively, the company reported an impressive earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 53%.

About JSW Infrastructure:

JSW Infrastructure Limited manages seaports and terminals in India, providing comprehensive mechanized and multi-cargo handling services to its clientele.

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