JSW Infrastructure, the port business under the leadership of Sajjan Jindal’s JSW Group, has received approval from SEBI to raise ₹2,800 crore through an Initial Public Offering (IPO). The IPO is planned to launch by the end of this month and marks the first public offering by the JSW Group in 13 years, following the listing of JSW Energy in 2010. The funds raised will be utilized for both debt repayment and expansion endeavors. This IPO will involve the issuance of new shares, and the company’s promoters will maintain their current ownership stakes without dilution. JSW Infrastructure had previously submitted the initial documents, including the draft red herring prospectus (DRHP), for the stake sale in May. An email inquiry to the JSW Group spokesperson remained unanswered as of Wednesday’s press time.
The proceeds from the IPO will be allocated primarily for debt repayment, with approximately ₹900 crore dedicated to this purpose. Additionally, a similar amount will be used to establish a liquid petroleum gas (LPG) terminal in Jaigarh, Maharashtra. Furthermore, ₹150 crore will be earmarked for expanding the container terminal at NMPṬ, with the remaining funds directed toward other expansion projects.
