JSW Infrastructure surges 4% on allotting commercial paper of Rs 1,000 cr

JSW Infrastructure share price: Shares of maritime-related services provider JSW Infrastructure soared up to Rs 328.70 per share on Friday, October 11, 2024.

The uptick in JSW Infrastructure share price came after the company announced that it has issued and allotted Commercial Paper aggregating to an amount of Rs 1,000 crore.

JSW Infrastructure, via an exchange filing said, “Please be informed that JSW Infrastructure Limited (‘Company’) has issued and allotted Commercial Paper aggregating to an amount of Rs 1000 crore.”

The allotment date of the commercial paper is October 09, 2024 while the date maturity is March 18, 2025 

Additionally, the face value is Rs 5,00,000 each while issue price per CP is Rs 4,83,510.50 each, JSW Infrastructures said in a statement.

The yield rate stands at 7.78 per cent per annum & the discount rate was 7.5234 per cent per annum.

Incorporated in 2006, JSW Infrastructure Limited specialises in maritime-related services such as cargo handling, storage solutions, and logistics. As a subsidiary of the JSW Group, it stands as the second largest commercial port operator in India based on cargo handling capacity. 

Additionally, the company operates two port terminals under Operation and Maintenance (O&M) agreements in the UAE, contributing to a cargo handling capacity of 41 million tonnes per annum (MTPA).

As of June 30, 2023, JSW Infrastructure manages nine ports across India, boasting an aggregate installed cargo handling capacity of 158.43 MTPA, a significant increase from 119.23 MTPA as of March 31, 2021. These ports are strategically located along the western and eastern coasts of India, including two non-major ports in Maharashtra and several terminals at major ports in Goa, Karnataka, Odisha, and Tamil Nadu.

The company handles a diverse range of cargo, encompassing dry bulk, break bulk, liquid bulk, gases, and containers. This includes thermal coal, iron ore, sugar, urea, steel products, and various other commodities.

The market capitalisation of JSW Infrastructure is Rs 68,271.05 crore, according to BSE.

The company falls under the BSE 200 category.

At 1:10 PM, JSW Infrastructure shares were trading 2.64 per cent higher at Rs 324.70 per share. In comparison, BSE Sensex was down 0.30 per cent at 81,368.89 levels.