JSW Infrastructure has secured approval from the Securities and Exchange Board of India (SEBI) for its upcoming Rs.2,800 crore initial public offering (IPO), expected to launch by the end of this month. The IPO aims to retire debt and support capacity expansion plans for the ports business of the $23 billion JSW Group.
As of December 31, 2022, the company’s debt stood at Rs.2,875 crore. JSW Infrastructure is India’s second-largest port operator, with a cargo handling capacity of 153.43 million tonnes per annum across various commodities. This marks the third public listing from the JSW Group, which also operates in sectors such as cement, paints, venture capital, and sports. JM Financial, Axis Capital, Credit Suisse Securities (India), DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets are the book running lead managers for the IPO, with equity shares proposed to be listed on the BSE and the National Stock Exchange.