JSW Infra's IPO to open on Sept 25, comprises fresh issue of Rs 2,800 cr

Sajjan Jindal-owned JSW Infrastructure on Wednesday said its initial share sale will open for public subscription on September 25.

The IPO comprises a fresh issue of shares worth Rs 2,800 crore.
 

JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open on September 22, according to the Red Herring Prospectus (RHP).
 

It will be the third company of the JSW Group to be listed on the bourses after JSW Energy and JSW Steel.
 

The company will use the proceeds to retire its debt and fund its capacity expansion projects, as per the DRHP.
 

The ports business of the JSW Group had filed the Draft Red Herring Prospectus (DRHP) on May 9.
 

JM Financial Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd, DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are the book-running lead managers to the issue.
 

The equity shares are proposed to be listed on the BSE and NSE.

“For example, our anchor customers are in the process of achieving expanded installed capacities at their facilities in India. JSW Steel is aiming to achieve up to 37 mtpa in fiscal 2025 from 27.7 mtpa in fiscal 2023. JSW Energy aims to achieve up to 10 Gw in fiscal 2025 from 4.8 Gw in fiscal 2023,” the company said in its DRHP filling in May.

The company proposes to develop a port at Jatadhar (Odisha) to cater to JSW Steel’s upcoming steel facility.

Jatadhar, along with Jaigarh Port, features in the company’s list of projects to be invested in through the proceeds of the IPO. This is along with payment of debt of Rs 880 crore pertaining to the two ports.