JSW Infra IPO likely by 2019-20; open to acquisitions: Sajjan Jindal

The JSW Infra IPO likely in 2019 or 2020 after the capacity utilisation for its port business reaches at least 100 million tonne per annum (mtpa). Currently, the port handles 35 mtpa of cargo, said Sajjan Jindal, Chairman and Managing Director, JSW Group.

Although the steel industry seems to have done well over the last six months with the help of Finance and Commerce Ministry’s help, all the dumping problems are not yet behind us and the industry it is still passing through a difficult phase, said Jindal, adding that at such times consolidation in the industry would be a good thing. He also confirmed that the company has been looking at acquiring Bhushan Steel, Monnet Ispat for quite some time now.

Talking about the resolution of bad debts and stressed assets in the industry, he said banks should allow takeover of stressed companies through a transparent bidding process, which in turn would help banks cut down haircuts, he added.

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