JSW Infrastructure Ltd has received approval from the Securities and Exchange Board of India (SEBI) to launch its Rs 2800 crore IPO by the end of this month. Now, it is reported that the initial public offering (IPO) of JSW Infrastructure will open for public subscription on September 25, while the anchor book will be opened for a day on September 22.
As per reports, the JSW Infrastructure IPO will open on September 25 and will close on September 27. The port business of the $12 billion JSW Group had filed draft papers for its IPO in May, aimed at retiring debt and fund its capacity expansion plans.
It will be the third company of the JSW Group to be listed on the bourses after JSW Energy and JSW Steel.
The company will use the proceeds to retire its debt and fund its capacity expansion projects, as per the DRHP.
The ports business of the JSW Group had filed the Draft Red Herring Prospectus (DRHP) on May 9.
JM Financial Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd, DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are the book-running lead managers to the issue.
The equity shares are proposed to be listed on the BSE and NSE.
JSW Infrastructure IPO will be the third public listing from the Sajjan Jindal-led JSW Group, 13 years after JSW Energy Ltd went public in January 2010.
JSW Infrastructure is India’s second largest port operator in terms of cargo handling capacity, with installed cargo handling capacity at 153.43 million tonne per annum for multi-commodity cargo, including dry bulk, break bulk, liquid bulk, gasses and containers.