Home » JSW Infrastructure Limited IPO

Last Updated on September 21, 2023 by BFSLTeam BFSLTeam

JSW Infrastructure Limited

JSW Infrastructure has recently announced that it will launch its IPO of entirely fresh issues on September 25 2023. It will stay open for subscription till September 27 2023. The company is a maritime services provider with substantial port-related infrastructure. The JSW Infrastructure IPO will be listed on NSE and BSE. The tentative listing date is fixed on October 6, 2023, as of now. The minimum lot size for one application is set at 126 shares. The price band is set at Rs. 113 to Rs. 119 each share. 

Get a detailed insight into the important details and financial statements of JSW Infrastructure prior to investing in their IPO. 

JSW Infrastructure IPO Details

The following table lays down the IPO details of JSW Infrastructure. Take a look: 

IPO DateSeptember 25 – September 27, 2023
Listing AtNSE, BSE 
Face ValueRs. 2 each share 
Issue TypeBook Built Issue 
Shareholding Pre-Issue18,64,707,450
Price BandRs. 113 to Rs. 119 each share 
Total Issue SizeRs. 2800 crore
Fresh IssueAggregating up to Rs. 2,800 crore
Lot Size126 shares (for retail investors)

About the Company

JSW Infrastructure is a subsidiary of the JSW Group. This group is a multinational conglomerate comprising a highly diversified portfolio consisting of various sectors such as steel, infrastructure, energy, venture capital, sports, paints, and cement.

Being the 2nd largest commercial port operator in India, JSW Infrastructure has a high capacity for cargo handling. They started with the port Concession at Mormugao (Goa) in 2002. Now, they have 9 Port Concessions all over India as well as 2 global terminals at Dibba and Fujairah, UAE. 

The company deals with maritime-related services inclusive of storage solutions, cargo handling, logistics services and many others. Their ports and port terminals have a port concession period ranging between 30 and 50 years which brings them a long-term revenue stream. 

JSW’s installed cargo handling capacity has grown at an impressive CAGR of  15.27% from March 31, 2021 to March 31, 2023 in India. 

Read Also: All Upcoming IPOs

JSW Infrastructure IPO Tentative Timetable

Find details regarding the timing and tentative dates of the JSW Infrastructure IPO in the following table: 

Anchor Book Opening DateFriday, September 22, 2023
IPO Open DateMonday, September 25, 2023
IPO Close DateWednesday, September 27, 2023
Cut-off Time for UPI Mandate Confirmation 5 PM on September 27, 2023
Basis of AllotmentTuesday, October 3, 2023
Initiation of RefundsWednesday, October 4, 2023
Credit of Shares to DematThursday, October 5, 2023
Listing DateFriday, October 6, 2023

JSW Infrastructure IPO Lot Size

JSW Infrastructure has set the lot size at 126 shares. Hence, each investor can bid for a minimum of 126 shares and in multiples henceforth. Find the maximum and minimum investment details in the following table: 

Application Lot SharesAmount (in Rupees)
Retail (Min)112614,994
S-HNI (Min)141,7642,09,916
B-HNI (Min)678,44210,04,598
Retail (Max)1316381,94,922
S-HNI (Max)668,3169,89,604

Company Financials

Take a look at the company financials to have an idea about the company’s condition and make an informed decision: 

Parameters as Per the Year Ending On31 March 202331 March 202231 March 2021
Total Assets94,506.5794,294.6182,545.54
Total Liabilities53,617.8459,575.8551,661.24
Total Expenses25,618.6119,527.5512,856.43
Total Revenue33,728.5323,787.3816,782.63
Profit After Tax7,495.133,304.372,846.24
EBITDA17,983.0312,151.108,911.32
Earnings Per Share (Basic)4.121.821.62
Earnings Per Share (Diluted)4.011.811.62

*All figures in Rs. millions except EPS

Strength

Here are some of the strengths of India’s 2nd largest commercial port operator in India: 

  • JSW Infrastructure is the most rapidly growing port infrastructure company in terms of cargo capacity growth and cargo volumes from Fiscal 2012 to Fiscal 2023.  It is also the 2nd largest commercial port operator in the country. 
  • Its strategically located Port Concessions on India’s west and east coasts offer excellent connectivity to industrial and mineral-rich regions, enabling importers and exporters to save costs due to their proximity to major shipping routes.
  • Port concessions typically last 30 to 50 years. Jaigarh Port in Maharashtra was awarded a 50-year concession in 2008, while Dharamtar Port (Maharashtra) and other major port terminals have 30-year concessions. This ensures stable income at the company’s ports.
  • JWS Infrastructure Ltd has become the leading maritime infrastructure firm operating multi-cargo ports and terminals in India. It can handle a variety of cargo from dry bulk to liquid bulk, LPG, LNG and containers, including coal, iron ore, sugar, products from steel and others.

Risks Involved

Along with the strengths, investors should also be aware of the company’s risks to make a responsible decision: 

  • The company depends on concessions and licence agreements with governmental and quasi-governmental entities for its operations and expansion. Violation of these terms may result in termination, potentially harming the Company’s business, financial condition and cash flows.
  • Its subsidiary South West Port Limited was granted environment clearance regarding the expansion of its capacity. However, the subsidiary is now facing challenges in the National Green Tribunal and other ongoing litigation. Negative results in these cases could affect their business, operational results, financial condition, and cash flow.

Summary

JSW Infrastructure aims to utilize the funds raised from its IPO for various purposes. One of them is the prepayment and repayment of some outstanding borrowings through investment in their wholly owned subsidiaries JSW Jaigarh Port Limited and JSW Dharamtar Port Private Limited. It will also be used for financing capital expenditure, upgradation and expansion of ports, setting up electric substations, installation of dredgers, and other corporate commitments. 

Frequently Asked Questions

1. Is JSW Infrastructure a profitable company?

Yes, JSW Infrastructure Limited has been profitable over the previous three financial years with steadily growing revenue over the years. It recorded Rs. 749.51 crore net profits in FY23 and Rs. 330.44 crore in FY22. 

2. How much of the IPO will be reserved for retail investors?

The company has reserved 10% of its total issue size (around Rs. 280 crore) for retail investors.

3. Which companies of the JSW Group are listed on stock exchanges?

Other than JSW Infrastructure which has an upcoming IPO, JSW Energy and JSW Steel are the only currently listed companies of this conglomerate.

4. Who are the book-running lead managers (BLRM) of the JSW Infrastructure IPO?

SBI Capital Markets, ICICI Securities, Axis Capital, JM Financials, DAM Capital Advisors, HSBC Securities & Capital Market, Credit Suisse Securities (India) and Kotak Mahindra Capital Company are the lead managers for this IPO.

Visited 23 times, 1 visit(s) today

Leave a Reply

Your email address will not be published. Required fields are marked *