New Delhi [India], May 10 (ANI): JSW Infrastructure, the ports business of the JSW Group has filed the Draft Red Herring Prospectus (DRHP) for its initial public offering with market regulator SEBI.
The IPO was filed on Monday, ANI has learnt.
DRHP is a document that consists of the company’s financial details, future prospects, and other key aspects regarding the business and is being filed to the regulator to raise money essentially via public offerings of its shares.
The ports business of Sajjan Jindal-led JSW Group plans to raise upto Rs 2,800 crore through the IPO route.
The company intends to deploy these funds to retire its debt as well as to fund its capacity expansion projects.
As of December 31, 2022, JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers.
JSW Infrastructure’s port business operations have expanded from one Port Concession at Mormugao in Goa that was acquired by the JSW Group in 2002 and commenced operations in 2004, to nine Port Concessions as of December 31, 2022 across India.
The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.
JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News