JSW Infrastructure files DRHP, plans to raise Rs 2800 crore via IPO

10 May 2023 , 01:24 PM

The ports business of JSW Group, JSW Infrastructure has filed a draft red herring prospectus with the markets regulator SEBI on Wednesday to raise funds via initial public offer, as per various reports.

The company will use its net proceeds from fresh issue of equity shares of worth Rs 2800 crore towards investment and repayment of debt of its wholly owned subsidiary, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited as well as to fund its capacity expansion projects. For capital expenditure in wholly owned subsidiary JSW Mangalore Container Terminal Private Limited and other general corporate purposes.

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

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

JM Financial, Axis Capital, Credit Suisse, DAM Capital, HSBC, ICICI Securities, Kotak Mahindra Capital and SBI Capital are the lead managers to the issue and KFin Technologies Limited is the registrar.