JSW Infrastructure gears up for ₹2,800-crore IPO, broadens focus on third-party businesses

JSW Infrastructure, the ports business of JSW Group, is set to launch its initial public offering (IPO) on Monday, September 25. The company, India's second-largest commercial port, has priced the IPO in a band of ₹113-119 ($1 = ₹83.05) per share and aims to raise ₹2,800 crore ($372 million), as announced by Arun Maheshwari, joint managing director and CEO.

The Mumbai-based firm is shifting its focus towards third-party businesses while maintaining robust volumes from its group companies. After being a captive player for the JSW Group for 15 years, JSW Infrastructure has increased its attention on external clients. Maheshwari stated that the company plans to continue this strategy and expand into more containers, liquid and gas sectors through a mix of bidding terminals in government ports and greenfield expansions.

JSW Infrastructure's business composition has evolved over time, with third-party cargo now accounting for 37% of its operations compared to just 6% in 2019. Maheshwari expressed that any port company requires an anchor customer to build its assets and that ideally they would like to achieve a 50:50 ratio between group companies and third parties.

The proceeds from the IPO will be allocated towards various purposes. A sum of ₹1,200 crore will be invested in expansions while about ₹900 crore will be used to repay loans. The remaining ₹700 crores are earmarked for general corporate purposes.

JSW Infrastructure was incorporated in 2006 and provides maritime-related services such as cargo handling, storage solutions and logistics services. It develops and operates ports and port terminals under long-term concessions ranging between 30-50 years. The firm handles various types of cargo including dry bulk, break bulk, liquid bulk, gases and containers.

The company has a presence across India with ports located in Maharashtra and port terminals across the industrial regions of Goa and Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. Internationally, JSW Infrastructure operates two terminals at Fujairah and Dibba in the UAE.

For the financial year ending March 31, 2023, the company reported a net profit of ₹749.51 crore with a revenue from operations of ₹3,372.85 crore. This marks an increase from the previous fiscal year when it posted a net profit of ₹330.44 crore with a revenue of ₹2,378.74 crore.

The IPO is entirely a fresh issue with 75% of the net offer reserved for qualified institutional bidders (QIBs), non-institutional investors (NIIs) getting 15% of the allocation, and the remaining 10% going to retail investors. The bidding process will conclude on Wednesday, September 27.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: