JSW Infrastructure’s IPO Details
JSW Infrastructure, India’s second-largest port operator by cargo capacity, has set the price band for its IPO at Rs 113-119 per share. The subscription period for the IPO will begin on September 25 and conclude on September 27. The company aims to raise Rs 2,800 crore through a fresh issue of shares, as per the Draft Red Herring Prospectus (DRHP). Notably, the IPO does not involve an offer for sale of promoter shares, and the promoter stake in JSW Infrastructure is held by Sajjan Jindal and Family Trust.
What JSW Infrastructure Does
JSW Infrastructure is primarily engaged in port operations and is the second-largest port operator in India, with an installed cargo capacity of 158.43 million tonnes (MT). The company handles various types of cargo, including dry bulk, break bulk, liquid bulk, gases, and containers. Over the three years ending on March 31, 2023, the company witnessed a remarkable 40% growth in volume.
Significance of JSW Infrastructure IPO
The JSW Infrastructure IPO holds significance as it marks the first public offering from the JSW Group in 13 years. The last company from the group to be listed was JSW Energy in 2010. The JSW Group, led by industrialist Sajjan Jindal, operates across various industries, including cement, paints, venture capital, and sports.
Lead Book-Running Managers
The lead book-running managers for the JSW Infrastructure IPO are as follows:
- JM Financial
- Axis Capital
- Credit Suisse
- DAM Capital Advisors
- HSBC Securities and Capital Markets
- ICICI Securities
- Kotak Mahindra Capital
- SBI Capital Markets
Financial Highlights
In the fiscal year FY23, JSW Infrastructure reported a profit after tax (PAT) of Rs 750 crore, with revenues totaling Rs 3,195 crore. The company achieved an EBITDA margin of 53% during FY23. EBITDA stands for earnings before interest, tax, depreciation, and amortization.
