JSW Infrastructure Shares List at 20% Premium on Debut

3 Oct 2023 , 09:52 AM

JSW Infrastructure, India’s second-largest commercial port operator, made its stock market debut with a strong showing, as its shares were listed at a premium of 20.17%. The company’s shares opened at Rs 143 on both the NSE and BSE, surpassing their issue price of Rs 119 per share.

The public issue of JSW Infrastructure, part of the JSW Group, raised Rs 2,800 crore and witnessed robust demand during its subscription period from September 25 to 27. The issue was oversubscribed 37.37 times, with significant interest from qualified institutional investors (QIBs) who subscribed 57.09 times their allocated shares. High net-worth individuals (HNIs) subscribed 15.99 times, while retail investors subscribed 10.32 times their portion.

JSW Infrastructure has demonstrated consistent revenue growth, with a Compound Annual Growth Rate (CAGR) of 41% for revenue, 42% for EBITDA (earnings before interest, tax, depreciation, and amortization), and 62% for Profit After Tax (PAT) during the FY21-23 period.

In addition to its strong financial performance, JSW Infrastructure has been the fastest-growing company in terms of installed cargo handling capacity and cargo volumes handled in the FY21-FY23 period. It currently holds the position of India’s second-largest commercial port operator in terms of cargo handling capacity in FY23.