Shares of JSW Infrastructure Limites rose during the trading session on Tuesday, June 23 after the company launched a qualified institutional placement of up to 23 crore shares worth Rs 7,502.7 crore.
JSW Infrastructure share price advanced as much as 3.7% to Rs 318.4 apiece. The scrip was trading 1.94% higher by 10:17 am, while the benchmark Nifty 50 index was 0.06% up.
JSW Infrastructure launched a major fundraising campaign via a fresh QIP issue of up to 23 crore equity shares. The QIP opened on June 22 with a floor price fixed at Rs. 290.35 per share. Concurrently, the Sajjan Jindal Family Trust will execute a secondary stake sale of up to 3.3 crore shares through an Offer for Sale (OFS), positioning the company to fund upcoming port infrastructure concessions.
SBI Capital, JM Financial, Avendus Capital, Citigroup, HSBC Securities and Jefferies are bankers to the deal, NDTV Profit reported earlier.
This fundraising exercise marks a significant step by JSW Infrastructure as it seeks to strengthen its capital base and support future growth plans.
JSW Infrastructure, part of the JSW Group, operates ports and logistics infrastructure across key locations and has been expanding its capacity to tap rising demand in India's infrastructure sector.
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