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JSW Infrastructure IPO Detail 2023

JSW Infrastructure IPO Detail 2023

Introduction

The JSW Infrastructure IPO will open on September 25 and close on September 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 2,800 crores through fresh public issues.

JSW Infrastructure Limited (“the Company”)

JSW Infrastructure Limited was incorporated in 2006. This is the fastest-growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during Fiscal 2020 to Fiscal 2022 and the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2022.

Its ports and port terminals typically have long concession periods ranging from 30 to 50 years. They have a diversified presence across India, with non-major ports located in Maharashtra and port terminals located at major ports across the industrial regions of Goa and Karnataka on the west coast and Odisha and Tamil Nadu on the east coast.

The company is a part of the JSW Group, a multinational conglomerate with an international portfolio of diversified assets across various sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports.

The company provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services, to its customers and is evolving into an end-to-end logistics solutions provider. They develop and operate ports and port terminals pursuant to port concessions.

Its operations have expanded from one port concession at Mormugao, Goa, which was acquired by the JSW Group in 2002 and commenced operations in 2004, to nine port concessions as of December 31, 2022, across India, making it a diversified maritime ports company.

Noteworthy Highlight

  • Its installed cargo handling capacity in India grew at a CAGR of 22.35% from 102.50 MTPA as of March 31, 2020, to 153.43 MTPA as of March 31, 2022.
  • During the same period, its cargo volumes handled in India grew at a CAGR of 34.97% from 34.01 MMT to 61.96 MMT.
  • In addition to its operations in India, the company operates two port terminals under O&M agreements for a cargo handling capability of 41 MTPA in the UAE as of December 31, 2022.

Objects of the Issue,

  1. Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in the wholly owned subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
  2. Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Jaigarh Port Limited, for proposed expansion and upgrade works at Jaigarh Port, i.e., i) expansion of the LPG terminal (“LPG Terminal Project”); ii) setting up an electric sub-station; and iii) purchase and installation of a dredger.
  3. Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal (“Mangalore Container Project”).
  4. General corporate purposes

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20
Net Worth3,934.643,212.132,831.182,488.23
Total Assets9,450.669,429.468,254.557,191.85
Reserve & Surplus3,645.753,208.982,829.842,486.53
Total Borrowings4,243.704,408.693,945.823,102.57
Total Revenue3,372.852,378.741,678.261,237.37
Profit After Tax749.51330.44284.62196.53
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 113 to ₹ 119 per share
Face Value₹ 2 per share
Market Lot126 Shares
Issue Size235,294,118 shares (aggregating up to ₹ 2,800 crores)
Fresh Issue235,294,118 shares (aggregating up to ₹ 2,800 crores)
Listing AtNSE, BSE

Shareholding Pattern

Shareholding pre-issue1,864,707,450
Shareholding post issue2,100,001,568

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 75% of the net offer
NII (HNI) shares offeredNot more than 15% of the Offer
Retail shares offeredNot more than 10% of the Offer

GMP: JSW Infrastructure IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: JSW Infrastructure IPO

The issue opens for subscription on September 25, 2023, and closes for subscription on September 27, 2023 (both days inclusive). The basis of allotment will be finalised on October 3, 2023, and the refunds will be initiated on October 4, 2023. In addition, the demat credits are expected to happen on October 5, 2023, and the stock will be listed on the NSE and BSE on October 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateSeptember 25, 2023
Closing DateSeptember 27, 2023
Basis of AllotmentOctober 3, 2023
Initiation of RefundsOctober 4, 2023
A credit of shares to Demat A/cOctober 5, 2023
Listing DateOctober 6, 2023

Lot Size

The lot size of the JSW Infrastructure IPO is 126 shares. A retail-individual investor can apply for up to 13 lots, i.e. 1,638 shares of ₹ 194,922.

ApplicationsLotsSharesAmount 
Retail (Minimum)1126₹ 14,994
Retail (Maximum)131,638₹ 194,922
S-HNI (Minimum)141,764₹ 209,916
S-HNI (Maximum)668,316₹ 989,604
B-HNI (Minimum)678,442₹ 1,004,598

Promoters Holdings 

Mr. Sajjan Jindal and Sajjan Jindal Family Trust are the promoters of the company.

Pre-issue Shares Holdings96.42%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationJSW Infrastructure Limited
JSW Centre, Bandra Kurla Complex Bandra (East), Mumbai – 400 051
Phone: +91 22 4286 1000
Email: infra.secretarial@ jsw.in
Website: https://www.jsw.in/infrastructure
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Manager(s)• JM Financial Limited 
• Axis Capital Limited 
• Credit Suisse Securities (India) Private Limited 
• Dam Capital Advisors Ltd (Formerly
• IDFC Securities Ltd) 
• HSBC Securities & Capital Markets Pvt Ltd 
• ICICI Securities Limited 
• Kotak Mahindra Capital Company Limited 
• SBI Capital Markets Limited 

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