JSW Infrastructure, owned by the Sajjan Jindal, has raised Rs 1,260 crore from 65 anchor investors on September 22, a day prior to the issue opening.
Global marquee investors like Government of Singapore, Monetary Authority of Singapore, Morgan Stanley, Fullerton, HSBC Trustee, TA Global, The Master Trust Bank of Japan, Cohesion MK Best Ideas, Goldman Sachs, Theleme India Master Fund, BNP Paribas Arbitrage - ODI, and Principal Global invested in the diversified maritime ports company via anchor book.
Domestic investors including Sunil Singhania-owned Abakkus, LIC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Sundaram Mutual Fund, UTI Mutual Fund, Tata Mutual Fund, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, and SBI General Insurance Company also participated in the anchor book.
JSW Infrastructure in its filing to exchanges has finalised allocation of 10,58,82,352 equity shares to anchor investors at a price of Rs 119 per share.
The Rs 2,800-crore public issue of the company comprises only a fresh issue and there is no offer-for-sale component in the offer. This is JSW group's first IPO after 13 long years. Back in 2010, the conglomerate had listed its energy business separately.
The price band for the offer, which opens on September 25, has been fixed at Rs 113-119 per share. The offer will close on September 27.
JSW Infrastructure that claimed to be the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled is going to utilise net fresh issue proceeds for repaying debts amounting to Rs 880 crore.
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Further, Rs 1,029.04 crore will be used for expansion or upgradation works at Jaigarh Port, owned by subsidiary, JSW Jaigarh Port.
The proposed expansion at Mangalore Container Terminal will also be done via fresh issue money and the remaining funds will be used for general corporate purposes.
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.
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JSW Infrastructure has recorded healthy financial with the profit growing 126.8 percent on-year to Rs 749.5 crore for the year ended March FY23, and revenue from operations increasing by 40.5 percent to Rs 3,194.7 crore during the same period.
In the quarter ended June FY24, the net profit rose by 67.3 percent year-on-year to Rs 322.2 crore and revenue was up by 7.1 percent to Rs 878 crore.
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