JSW Infrastructure IPO opens for subscription today; Check essential details

25 Sep 2023 , 09:15 AM

JSW Infrastructure Limited is involved in providing maritime-related services, including cargo handling, storage solutions, and logistics services. The company develops and operates ports and port terminals under Port Concessions. They handle various types of cargo, including dry bulk, break bulk, liquid bulk, gases, and containers. The range of cargo they handle includes thermal coal, coal (other than thermal coal), iron ore, sugar, urea, steel products, rock phosphate, molasses, gypsum, barites, laterites, edible oil, LNG, LPG, and containers.

1. IPO Price Band: The price band for JSW Infrastructure’s IPO is set at Rs 113-119 per share.

2. Offer Details: The IPO comprises only a fresh issue by the company, and there is no offer-for-sale component. The total issue size is Rs 2,800 crore.

3. IPO Dates: The IPO is scheduled to be open for bidding from September 25 to September 27, 2023.

4. Use of Proceeds: The company plans to use the net fresh issue proceeds for repaying debts amounting to Rs 880 crore, and Rs 1,029.04 crore will be allocated for expansion or upgradation works at Jaigarh Port, which is owned by the subsidiary, JSW Jaigarh Port.

5. Basis of Allotment: The basis of allotment is set for Tuesday, October 3, 2023.

6. Refunds: Initiation of refunds is scheduled for Wednesday, October 4, 2023.

7. Demat Credits: Shares are expected to be credited to demat accounts on Thursday, October 5, 2023.

8. Listing Date: JSW Infrastructure Limited is set to be listed on the stock exchange on Friday, October 6, 2023.

9. Allocation Breakdown: The allocation of shares is divided as follows:

• Retail Investors: 10%
• Qualified Institutional Buyers (QIBs): 75%
• Non-Institutional Investors: 15%

10. Lot Size: One lot consists of 126 shares, and the application amount for one lot is Rs 14,994.

In the fiscal year ending March 2023, the company achieved a remarkable 126.8% year-on-year surge in net profit, reaching Rs 749.5 crore. Simultaneously, its revenue from operations also witnessed substantial growth, surging by 40.5% to reach Rs 3,194.7 crore for the same period.