JSW Infrastructure launched its initial public offering on Sept. 25. The port-related infrastructure company plans to raise up to Rs 2,800 crore via a fresh issue.
The IPO was subscribed 43% on day 1 and 2.13 times on day 2.
The fresh issue of 23.53 crore equity shares will be sold in the price range of Rs 113–119 per share.
JSW Infrastructure Ltd. has raised Rs 1,260 crore from anchor investors ahead of its initial public offering on Sept. 25.
The port-related infrastructure company allotted nearly 10.58 crore shares at Rs 119 apiece to 65 anchor investors.
The investors included the Government of Singapore, SBI Mutual Fund, Aditya Birla Sun Life Insurance, ICICI Prudential, Fullerton, Tata Mutual Fund, HDFC Mutual Fund, Nippon Life India, BNP Paribas Arbitrage, Think India Opportunities Master Fund, Morgan Stanley India Investment Fund, Bajaj Allianz, and Goldman Sachs (Singapore), among others.
Issue Details
Anchor investor bidding date: Sept. 22.
Issue opens: Sept. 25.
Issue closes: Sept. 27.
Total issue size: Rs 2,800 crore.
Face value: Rs 2 per share.
Fresh issue shares: 23.53 crore shares.
Price band: Rs 113–119 per share.
Lot size: 126 shares.
Listing: BSE and NSE.
Business
JSW Infrastructure is the fastest-growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY2021-23 and the second-largest commercial port operator in India in terms of cargo handling capacity in FY2023.
The company provides maritime-related services, including cargo handling, storage solutions, logistics services, and other value-added services, to its customers and is evolving into an end-to-end logistics solutions provider.
The company's operations expanded from one port concession in 2002 to nine port concessions as of June 30, 2023.
The installed cargo handling capacity of the company in India stands at 158.43 MTPA as of March 31, 2023, and the cargo volumes handled in India stand at 92.83 MMT.
Subscription Status: Day 3
The IPO has been subscribed 37.37 times as of 5:00 p.m. on Wednesday.
Institutional investors: 57.09 times
Non-institutional investors: 15.99 times
Retail investors: 10.31 times.
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