Page 8 - Jsw

Building a war chest essential for continued expansion: JSW Infra CEO

"If the sector and location are favourable, and a growth opportunity exists, we do not mind putting a tick in the box"

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

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

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

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

Private equity firms TPG, Tepco, Brookfield in talks for JSW Neo stake

JSW Energy had earlier announced that it would be shifting its hydro energy projects into subsidiaries under JSW Neo Energy

Weekend Bites: Beleaguered tycoon, GDP, Ambani children, and Wonderlust

In which we munch over the week's platter of news and views

JSW to invest Rs 18,000 crore to expand cement business: Parth Jindal

We have now made a roadmap to scale-up our capacity by three times to 60 million tonnes over the next five years

JSW Group working on plans to make its own EVs, says Sajjan Jindal

JSW Group, which is in talks with MG Motor India to enter the EV space, is also working on a parallel plan to make its own electric vehicles, Chairman Sajjan Jindal said on Friday. Discussions are underway with MG Motor, Jindal said. "We are extremely serious about entering the EV space. MG would be our preferred choice. If it happens, otherwise we are also working parallely to develop our own EV cars," he said on the sidelines of B20 Summit India 2023. EV is an area where JSW Group must enter as it is the future and this is a good time to make foray into this space, Jindal said. In January, JSW Group Chief Financing Officer Seshagiri Rao had told PTI that manufacturing of electric vehicles was being discussed actively at the group level. The group was looking to manufacture electric four-wheelers, Rao had said. JSW Group has a significant presence in sectors like steel, energy, infrastructure, cement, paints, venture capital and sports.

JSW Steel to boost long steel capacity to tap infrastructure boom

As the company increases production, raw material security is also on its radar

JSW Investments divests 1.27% in JSW Energy for Rs 717 cr via open market

Promoter JSW Investments on Wednesday pared a 1.27 per cent stake in JSW Energy for Rs 717 crore through open market transactions. GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy. According to the block deal data available with BSE, JSW Investments offloaded 2.10 crore shares, amounting to a 1.27 per cent stake in JSW Energy. The shares were disposed of at an average price of Rs 341.7 apiece, taking the aggregate transaction value to Rs 717.57 crore. Post the transaction, the shareholding of JSW Investments reduced to 18.95 per cent from a 20.22 per cent stake in JSW Energy at the end of the June quarter. Shares of JSW Energy rose 6.66 per cent to close at Rs 368.10 apiece on BSE. On Monday, GQG Partners Emerging Markets Equity Fund acquired more than 1.19 crore shares of JSW Energy for Rs 411

JSW Steel posts 11% rise in crude steel production at 6.43 MT in Q1

JSW Steel on Thursday posted an 11 per cent year-on-year growth in consolidated steel production at 6.43 MT during the first quarter of this financial year. It had produced 5.77 million tonnes (MT) steel during the April-June period of the preceding 2021-22 fiscal, JSW Steel said in a statement. However, on a quarter-on-quarter basis, steel production stood at 6.43 MT, 2 per cent down from the 6.58 MT output in the quarter ended March 31, 2023. The consolidated numbers include production of JSW Steel's operations in India and JSW USA - Ohio. The operations in Ohio produced 0.24 MT steel, up from 0.16 MT in April-June FY23. Part of JSW Group, JSW Steel is among the top three steel producing companies in India.

JSW Cement signs $50 mn green loan agreement with French lender BNP Paribas

JSW Cement has signed a sustainability-linked loan agreement with the domestic arm of French lender BNP Paribas to raise USD 50 million or about Rs 414 crore in debt capital. This is JSW Cement's second green debt capital taking the total sustainability-linked funding to USD 100 million now, the company said in a statement. The company plans to use the money to fund its capacity expansion in line with its long-term target of achieving 50 mtpa capacity. According to Parth Jindal, the managing director of JSW Cement, the second green loan comes within six months of availing the first such loan. He said the company has increased its production capacity four times in the past eight years, but has reduced the carbon emission intensity by half during this period and that the latest green loan underscores their continued commitment to Environmental, social and governance (ESG) goals.

JSW Infrastructure to invest Rs 152 cr to grow container capacity at NMPT

JSW Infrastructure will invest Rs 152 crore for the expansion of its container capacity at New Mangalore Port Trust, according to sources. In June 2022, the company commissioned its first container terminal at New Mangalore Port Trust (NMPT) in Karnataka, having a cargo capacity of 2.4 lakh twenty equipment units (TEU). On May 9, Sajjan Jindal-owned JSW Infrastructure filed the DRHP with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debt and support its expansion plans. "Out of Rs 2,800 crore, which the company plans to raise through the initial public offering (IPO), Rs 152 crore will be spent on container capacity expansion," the sources said. As per the plan, the capacity will be increased to 4 lakh TEUs. The modernisation efforts will be undertaken by JSW Infrastructure's subsidiary JSW Mangalore Container Terminal Private Limited (MTPL). A query sent to the company seeking a response remained unanswered. The

JSW Infrastructure files DRHP with Sebi, plans to raise Rs 2,800-cr via IPO

Firm plans to retire debt, fund port projects through the public offer's proceeds

JSW Infra files for $342 mn IPO to cut debt, fund capital expenditure

JSW Infrastructure has filed for an IPO worth up to 28 billion rupees ($342.4 million), it said in a draft prospectus on Wednesday

Sajjan Jindal-led JSW Group denies picking up stake in MG Motors, BYD Group

This came after reports emerged stating the talks were in the 'final stages'

India's JSW Steel plans to sell specialty steel to Russia: Company source

India's JSW Steel plans to sell specialty steel products to Russia this year, a senior company official told Reuters on Wednesday

JSW One Platforms raises Rs 205 cr in funding from Japan's Mitsui

E-commerce venture of US Group will use the financing to expand business and improve technology

JSW One raises Rs 205 cr from Japan's Mitsui at Rs 2,750 cr valuation

B2B e-commerce firm of JSW Group will use the financing to expansion business

JSW One Platforms raises Rs 205 cr from Mitsui at Rs 2,750 cr valuation

Sajjan Jindal-led JSW Group's business-to-business e-Commerce arm on Monday announced a Rs 205 crore fund raise from Japan's Mitsui & Co. The Series A funding, which is also the maiden capital raise from an institutional investor by JSW One Platforms, has been done at a valuation of Rs 2,750 crore, as per an official statement. The USD 22 billion conglomerate had launched the business in July 2021, aiming to leverage on its expertise in manufacturing and building materials, tech-enabled logistics and credit, to be a platform of choice for MSMEs and Enterprises in India. It plans to plough-in the funds to strengthen its market presence and further enhance tech capabilities, the statement said, adding that it is expanding operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh. It will also invest in credit, logistics, and technology stack to improve customer experience. Masaharu Okubo, the country chairperson in India of Mitsui & Co said ..

JSW Neo Energy bags 300 MW pumped hydro storage project in Karnataka

JSW Neo Energy on Friday said it has bagged a 300 MW pumped hydro storage project from Power Company of Karnataka Ltd (PCKL). "JSW (Neo) Energy receives LoI (letter of intend) for 300 MW Hydro PSP from PCKL," a JSW Energy statement said. It further said that JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has received a letter of intent from PCKL for procurement of 2,400 MWh (300 MW x 8 hours) energy storage from the pumped hydro storage project (PSP). The LoI is for providing storage capacity for 40 years. The project will be located in Karnataka and designed for eight hours of storage capacity per day. Prashant Jain, Joint Managing Director and CEO of JSW Energy, said, "We are excited to bag our first hydro pump storage project and we have already secured resources for 64 GWh of hydro PSP across various states". This is our second utility-scale storage project in addition to 'Battery Storage' secured under a competitive bidding process, he added. The com