JSW Infra receives SEBI approval for ₹2,800 Cr IPO

JSW Infra raises ₹1,260 Cr from anchor investors

New Delhi, India – JSW Infrastructure Ltd. has achieved a significant milestone by securing approval from the Securities and Exchange Board of India (SEBI) for its forthcoming ₹2,800 crore initial public offering (IPO), expected to debut by the end of this month, according to an informed source cited by Mint.

Back in May, the ports division of the illustrious JSW Group, valued at a staggering $23 billion, had formally submitted draft papers for its IPO. The primary objectives behind this JSW Infra IPO include the retirement of existing debt and the generation of funds to facilitate ambitious capacity expansion plans.

As of December 31, 2022, the company carried a debt burden amounting to ₹2,875 crore.

Despite reaching out to the company via email for comments, no response was received as of the time of publication.

JSW Infrastructure currently stands as India’s second-largest port operator in terms of cargo handling capacity. Its robust infrastructure boasts an installed cargo handling capacity of 153.43 million tonnes per annum, catering to a diverse range of cargo types such as dry bulk, break bulk, liquid bulk, gases, and containers.

This impending IPO marks the third public listing from the JSW Group, occurring 13 years after JSW Energy Ltd.’s successful public offering in January 2010. The JSW Group, under the leadership of Sajjan Jindal, also boasts a diverse portfolio spanning cement, paints, venture capital, and sports businesses.

The consortium of book running lead managers for this IPO includes 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.

Equity shares from JSW Infrastructure’s IPO are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

JSW Infrastructure, having commenced operations in 2004, manages nine concessions and holds the operations and management contract for two ports in West Asia, boasting a combined capacity of 41 million metric tonnes per annum.

The company reported robust financial performance in the December quarter of FY23, with a net profit of ₹447.2 crore, while earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to ₹1,268.6 crore. Over the fiscal year ending in December 2022, the company achieved impressive growth figures, including a 35% surge in cargo volumes, a 41% increase in revenue, a 31% rise in operational profit, and a 30% boost in profit after tax compared to the previous year.

This SEBI-approved IPO holds promise as JSW Infrastructure continues to strengthen its position as a formidable player in India’s port and infrastructure landscape.

About JSW Infra:

JSW Infrastructure stands as a prominent player among India’s private sector infrastructure firms. With a history dating back to 1999, the company boasts a workforce of over 1200 dedicated employees. JSW Infrastructure is renowned for its commitment to core values including transparency, relentless pursuit of excellence, and a dynamic approach, all underscored by a track record of operational excellence.

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