JSW Infrastructure to raise Rs 2,800 cr via IPO; files DRHP

JSW Group firm JSW Infrastructure is looking to raise up to Rs 2,800 crore through the Initial Public Offering (IPO) route, sources said.

The company has filled the draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) in this regard.

"JSW Infrastructure has filed DRHP to raise up to Rs 2,800 crore through IPO route. The ports business of the JSW Group has filed the DRHP for its initial public offering with SEBI on May 9, 2023," sources said.

TRENDING NOW

Microsoft, OpenAI tie-up comes under antitrust scrutiny

COVID-19 Update: India records 148 new coronavirus cases, infection tally stands at 4.50 crore

China's consumer prices fall fastest in 3 years, factory-gate deflation deepens

Delhi Weather Update: National Capital records minimum temperature at 8.5°C

Australia to triple fees on foreign purchasers of existing homes

Tata Group submits application to set up semiconductor processing plant in Assam: CM Sarma

NT Awards 2023: Zee Business shines in five categories

Government approves 100% packaging of food grains in jute bags

Startup hBits offers Rs 28 cr-commercial property in Mumbai to HNIs for fractional ownership

Delhi AQI Update: National Capital's air quality remains in very poor category

Animal Box Office Collection: Ranbir Kapoor-starrer touches Rs 600 crore mark worldwide | Check OTT release details

India vs South Africa 2023-24: T20, ODI, Test Matches Full Schedule, Match Dates, Time in IST, Venues, Squad, Free Live Streaming Details

COP28: New GST draft text gives four options for move towards clean energy

BSE, Wipro, Blue Dart, Persistent Systems, Spandana Sphoorty: Stocks to watch on Monday

Tata Motors unveils comprehensive service plan to serve flood-affected customers

When contacted for details, a JSW Group spokesperson declined to comment.

The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects.

JSW Infrastructure will be the third company of the JSW Group to be listed on the bourses after JSW Energy and JSW Steel.

According to sources, promoters will not be diluting their current stake, and JM Financial is the lead banker of this public issue.

JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers.

As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore.

The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of Rs 1,268.6 crore.

Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports.

Catch the latest stock market updates here. For more news on sports, politics follow Zee Business