JSW Infra Secures Rs 7,503 Crore Through QIP For Multi-Year Capex

The issue attracted bids worth over Rs 50,530 crore, drawing participation from global investors, domestic mutual funds and pension funds.

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JSW Infrastructure said the proceeds will fund growth plans, while the transaction also helped broaden its institutional shareholder base.
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  • JSW Infrastructure raised Rs 7,503 crore through a Qualified Institutional Placement (QIP)
  • The QIP included Rs 6,555 crore primary issuance and a promoter offer-for-sale component
  • The funds support a Rs 39,000 crore capital expenditure program and public shareholding norms
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JSW Infrastructure on Wednesday said it has raised Rs 7,503 crore through a qualified institutional placement.

The QIP comprised a primary issuance of securities worth Rs 6,555 crore, with the balance being raised through an offer-for-sale (OFS) by the promoter selling shareholder, JSW Infrastructure said in a regulatory filing.

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“JSW Infrastructure has successfully completed a landmark Rs 7,503 crore Qualified Institutions Placement (QIP), marking the first transaction in India to combine a primary issuance and an offer-for-sale by a promoter selling shareholder within a single QIP structure,” the company said.

The transaction enabled the company to raise growth capital to support its Rs 39,000 crore multi-year capital expenditure programme, facilitate compliance with minimum public shareholding requirements and significantly broaden its institutional shareholder base through the induction of several marquee global and domestic investors.

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The QIP offering is among the largest QIP issuances undertaken in India's industrial and infrastructure sector in recent years, the company said.

The QIP garnered 6.7 times demand, attracting bids of around Rs 50,530 crore from a diversified investor base comprising domestic mutual funds, insurance companies and foreign institutional investors, primarily long-only and pension funds.

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Participation from marquee global investors such as FMR, Capital Group and BlackRock, among others, and blue-chip domestic mutual funds including HDFC Mutual Fund and SBI Mutual Fund reflects strong conviction in the company's growth strategy and long-term prospects, the filing said.

ALSO READ | JSW Infra Shares Gain 4% After Rs 7,503-Crore Worth QIP Launch

JM Financial, Avendus Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets India, SBI Capital Markets and Jefferies India were the book-running lead managers to the QIP.

JSW Infrastructure, a key entity of the JSW Group, is India's second-largest private commercial port operator, renowned for its environmentally sustainable seaports and terminals.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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