JSW Infra IPO: Price band set at Rs 113-119 for conglomerate’s first IPO in 13 years

JSW Infrastructure has set a price range of Rs 113-119 per share for its IPO, which will open on September 25. The offer covers only some of the company’s new issues and does not include Includes offering components. The size of the issue is Rs 2,800 crore. This is JSW Group’s first IPO after 13 long years. In 2010, the group listed its energy activities separately. JSW Infra has reserved 10% of the offering shares for retail investors, 75% for qualified institutional buyers and 15% for non-institutional investors. One lot contains 126 shares and the required quantity is Rs 14,994.
The company will use the proceeds from the issue to repay debt amounting to Rs 880 crore and Rs 1,029.04 crore will be spent on expansion or modernization works at Jaigarh Port, owned by subsidiary JSW Jaigarh Port.
Sajjan Jindal Family Trust holds 90.91 per cent stake in the port infrastructure company, while JSW Infrastructure Employees Welfare Fund, JSL and Siddeshwari Tradex hold 9.08 per cent stake in the company. The company reported a 126.8% year-on-year rise in net profit at Rs 749.5 crore for the year ended March FY23, with operating revenue growing 40.5% to reach 3,194 crore. Rs 7 crore during the same period.