JSW Infrastructure has set a price band of Rs 113-119 per share for its initial public offering, which is opening on September 25. The offer comprises only a fresh issue by the company and does not have an offer-for-sale component. The issue size is Rs 2,800 crore. This is JSW group's first IPO after 13 long years. Back in 2010, the conglomerate had listed its energy business separately.
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JSW Infra has reserved 10 percent of the offer for retail investors, 75 percent for qualified institutional buyers, and 15 percent for non-institutional investors. One lot is 126 shares and the application amount works out to be Rs 14,994.
The company will make use of net fresh issue proceeds for repaying debts amounting to Rs 880 crore, and Rs 1,029.04 crore will go towards expansion or upgradation works at Jaigarh Port, owned by subsidiary, JSW Jaigarh Port.
Sajjan Jindal Family Trust has 90.91-percent shareholding in the port-related infrastructure company, while JSW Infrastructure Employees Welfare Trust, JSL, and Siddeshwari Tradex hold 9.08 percent of the shares in the firm.
The company recorded a 126.8 percent on-year growth in net profit at Rs 749.5 crore for the year ended March FY23, with revenue from operations increasing by 40.5 percent to Rs 3,194.7 crore during the same period.
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