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JSW Infra readies ₹2,800 crore IPO; bidding opens 25 Sep
Mint Mumbai
|September 19, 2023
Port operator JSW Infrastructure Ltd on Monday announced plans for a ₹2,800 crore initial public offering (IPO), the first from the JSW Group in 13 years.
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The IPO will open on 25 September at a price band of ₹113-119 per share, and will be entirely of new shares.
“Big event for the group, it has been very, very categoric, you know, unless you create a business of a certain level and you have an appetite to grow when you see a growth in the sector, then we take public money, and the demand has been very good per se. The company’s coming after 13 years into the IPO market, very sound financials, good governance structures within," Arun Maheswari, joint MD and CEO of JSW Infrastructure Ltd, said. “The QIB (Qualified Institutional Buyers) portion will be 75% of the offer size which is ₹2,100 crore and of which 60% will be for anchor investors, HNI (High Net-worth Individuals) portion will be 15% ie, ₹420 crore, retail portion will be 10% i.e., ₹280 crore," he added.
After the listing, the company is expected to have a market capitalisation of ₹25,000 crore at the top end of the price band.
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