New Delhi: As per reports, Investors may submit bids for a minimum of 126 equity shares and additional shares in multiples of 126 shares. The issue’s goals include paying in advance or repaying 880 crore of its outstanding debt, financing capital expenditure requirements totalling 865.75 crore for an LPG Terminal Project, 59.4 crore for building an electric sub-station, 103.88 crore for the purchase and installation of a dredger, and financing 151.04 crore for the proposed expansion at Mangalore Container Terminal, in addition to general corporate purposes.
A port-related infrastructure firm called JSW Infrastructure received its debut shipment from the JSW Group as an anchor client.
The firm has extended its cargo mix by exploiting its locational advantage and optimizing asset utilization, in addition to cooperating with JSW Group Customers to pursue its growth goals. The company has also diversified its customer base to include third-party customers across countries.
10% of the offer has been set aside by JSW Infra for individual investors, 75% for eligible institutional purchasers, and 15% for unaffiliated investors. A lot consists of 126 shares; hence, the application fee comes to Rs 14,994.
The business would utilize the net proceeds from the fresh issuance to pay off debts of Rs. 880 crore, and Rs. 1,029.04 crore will be used to expand or upgrade Jaigarh Port, which is controlled by the subsidiary JSW Jaigarh Port.
The whole offering is primary, with a price range of 113 to 119 and a bid lot of 126 shares, according to the business. At the high end of the price range, the market capitalization of the firm is anticipated to be 25,000 crores at the time of listing. “The QIP portion will be 75% of the offer size, or 2,100 crores, of which 60% will be for anchor investors, 15% for HNIs, or 420 crores, and 10% for retail investors, or 280 crores.”
The port-related infrastructure company is 90.91 percent owned by Sajjan Jindal Family Trust, while 9.08 percent is held by JSW Infrastructure Employees Welfare Trust, JSL, and Siddeshwari Tradex.
The company’s installed freight handling capacity was 158.43 million tonnes annually as of June 30, 2023. The business offers its clients services relating to the marine industry, such as cargo handling, storage options, logistics services, and other value-added services.
As of FY23, JSW Infrastructure ranked as the second-largest port operator in India in terms of cargo handling capacity. The company’s installed cargo handling capacity for a variety of commodities, including dry bulk, broken bulk, liquid bulk, gases, and containers, was 158.43 million tonnes annually. As of March 31 2023, the cargo volume had increased by 40% from FY20 and was 93 million tonnes.