JSW Infrastructure is into Infrastructure Ports and is looking raise funds through Fresh Issue
JSW Infrastructure IPO: Jsw Infrastructure Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 2800 crores. JM Financial, Axis Capital, Credit Suisse Securities, DAM Capital, HSBC Securities and Capital Markets, ICICI Securities, Kotak Mahindra Capital, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 2,800 Crs and.
Objects of the issue:
1) Investment in wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited, for prepayment or repayment, in full or part, of all or a portion of certain of their outstanding borrowings amounting to Rs. 880 crores, 2) Investment in wholly owned Subsidiary, JSW Jaigarh Port Limited, for financing its capital expenditure requirements for proposed expansion/upgradation works at Jaigarh Port as follows: a) LPG Terminal Project - Rs. 868 crores b) setting up an electric sub-station - Rs. 59.4 crores c) purchase and installation of dredger - Rs. 102.5 crores, 3) Investment in wholly owned Subsidiary, JSW Mangalore Container Terminal Private Limited, for financing its capital expenditure requirements in relation to proposed expansion at Mangalore Container amounting to Rs. 151.6 crores., and 3) General corporate purposesand unidentified inorganic acquisitions.
Promoters of JSW Infrastructure are Sajjan Jindal and Sajjan Jindal Family Trust and holds 96.42% stake in the company.
About Company:
JSW Infrastructure is promoted by Sajjan Jindal and Sajjan Jindal Family trust is in port-related infrastructure company in India. Company is the second largest commercial port operator in India in terms of cargo handling capacity in FY22 (Source: CRISIL Report). Company operate nine Port Concessions across India with an installed cargo handling capacity of 153.43 MTPA as of December 31, 2022. It also operate two port terminals under O&M agreements for a cargo handling capability of 41 MTPA in the UAE as of December 31, 2022.
About Industry:
India’s port traffic in India is expected to grow by 8% to 9% in Fiscal 2023, compared to a growth of 4.9% in Fiscal 2022. Over Fiscals 2024 to 2028, growth at Indian ports is expected to be between 3% and 6%. The Sagarmala programme aims at enhancing India’s port capacity to over 3,300 MTPA by 2025. According to the Ministry of Shipping, this would include 2,219 MTPA of capacity at Major Ports and 1,132 MTPA at Non-Major Ports by 2024 -2025. Further, there is a positive outlook for the underlying industries of our customers engaged in the business of steel, power and cement.
Source: SEBI, BSE, NSE, DRHP, JSW Infrastructure, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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