Infrastructure News

JSW Infra files papers to launch Rs 2,800 crore IPO, Infra News, ET Infra

MUMBAI: JSW Infrastructure Ltd, the ports unit of Sajjan Jindal-led JSW Group, has filed a draft prospectus with market regulator SEBI to sell shares in an initial public offering (IPO) to raise as much as Rs 2,800 crore.

The proceeds from the share sale will be used to repay debt and fund expansion plans, the company said.

JSW Infrastructure promoters will not be diluting their current stake, it added.

JSW Infrastructure, the nation’s second biggest private port operator by capacity, has an installed cargo handling capacity of 153.43 million tonnes (mt) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers.

JSW Infrastructure’s port business operations have expanded from one port concession at Mormugao Port in Goa that was acquired by the JSW Group in 2002, to nine port concessions.

The port operator has also secured O&M contracts for 2 ports in UAE, at Fujairah Terminal and Dibba Terminal having a combined capacity of 41 mt.

The company plans to further expand its asset portfolio and grow its operations by evaluating acquisition opportunities to strengthen its presence in handling container and liquid cargo, with a focus on increasing its third-party customer base, it said.

  • Published On May 10, 2023 at 12:53 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.

Source link