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    Home / News / Business News / JSW Infrastructure's Rs. 2,800 crore IPO aims for September launch
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    JSW Infrastructure's Rs. 2,800 crore IPO aims for September launch
    JSW Infrastructure is a subsidiary of $23 billion JSW Group

    JSW Infrastructure's Rs. 2,800 crore IPO aims for September launch

    By Dwaipayan Roy
    Sep 11, 2023
    06:49 pm

    What's the story

    JSW Infrastructure, a leading maritime ports entity and subsidiary of the $23 billion JSW Group, is gearing up to launch its initial public offering (IPO) by September end.

    The IPO, consisting entirely of a fresh batch of equity shares, aims to raise funds for paying down debt and financing capital expenditure.

    The company's revenues have more than doubled from Rs. 1,143 crore back in FY19-20, to Rs. 2,273 crore in FY22-23.

    What Next?

    IPO funds to fuel expansion and debt reduction

    Back in May, JSW Infrastructure filed a draft red herring prospectus (DRHP) with market regulator SEBI for a Rs. 2,800 crore IPO.

    The proceeds from the IPO will reportedly be used to pay down the debt of its subsidiaries: Jaigarh Port and JSW Dharamtar Port.

    It will also be utilized for the capital expenditure of JSW Mangalore Container Terminal, among others.

    JSW Infrastructure plans to further expand its operations and solidify its position in the maritime ports sector.

    Details

    Company's growth through port concessions

    Since acquiring its first port concession at Mormugao, Goa in 2002, JSW Infrastructure has expanded its operations to nine port concessions across India.

    A contract where the government hands over the right to operate a port to a private enterprise is called a port concession.

    The company's diversified portfolio has positioned it as a major player in the maritime port industry.

    Insights

    2023: A year of major corporate IPOs

    The year 2023 has witnessed several large corporations going public, including TVS Group (after roughly three decades) and Cyient DLM (26 years later).

    Moneycontrol suggests that Tata Technologies' IPO might be launched anytime this month.

    The trend of large IPOs is anticipated to continue, with more companies looking to raise capital through public offerings, reflecting a robust market for investors and businesses alike.

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