Infrastructure News

Ahead of IPO, JSW Infra mops up Rs 1,260 crore from anchor investors, ET Infra


NEW DELHI: JSW Infrastructure, a part of the JSW Group, on Friday collected Rs 1,260 crore from anchor investors, days before its Initial Public Offering (IPO). The company has allocated 10.58 crore equity shares to 65 funds at Rs 119 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.

Government of Singapore, Monetary Authority of Singapore, Morgan Stanley Investment Funds, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, Ask Investment Fund, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, UTI MF, Sundaram MF, Tata MF, Nippon India MF and Aditya Birla Sun Life MF are among the anchor investors.

The public issue is entirely a fresh issue of equity shares worth Rs 2,800 crore. Investors can bid for a minimum of 126 equity shares and in multiples of 126 equity shares thereafter.

The issue, with a price band of Rs 113-119 per share, will open for public subscription during September 25-27.

Proceeds of the issue to the tune of Rs 880 crore will be used to pay debt, Rs 865.75 crore to finance capital expenditure requirements for an LPG terminal project, Rs 59.4 crore for setting up an electric sub-station, Rs 103.88 crore for the purchase and installation of a dredger and Rs 151.04 crore for the proposed expansion at Mangalore Container Terminal, as per the circular.

These apart, the proceeds will also be used for general corporate purposes.

JSW Infrastructure, a port-related infrastructure company, provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services to its customers.

As on June 30, 2023, the company’s installed cargo handling capacity was 158.43 million tonnes per annum.

JM Financial, Axis Capital, Credit Suisse Securities (India) Pvt Ltd, DAM Capital Advisors, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets are the book running lead managers to the issue.

  • Published On Sep 23, 2023 at 08:39 AM IST

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