JSW Infrastructure IPO will open for subscription from 25 September 2023. The company aims for an issue size of ₹2,800 Cr through this IPO.
Company Overview
| Full name | JSW Infrastructure Limited |
| Sector | Logistics |
| Industry | Ports |
| Company Website | https://www.jsw.in/ |
About Company
Incorporated in 2006, JSW Infrastructure provides maritime-related services including, cargo handling, storage solutions, logistics services, and other value-added services to the customers, and is evolving into an end-to-end logistics solutions provider. The company develops and operates ports and port terminals pursuant to the port concessions.
JSW installed cargo handling capacity in India grew at a CAGR of 22.35% from 102.50 MTPA as of 31 March 2020 to 153.43 MTPA as of 31 March 2022. During the same period, its cargo volumes handled in India grew at a CAGR of 34.97% from 34.01 MMT to 61.96 MMT. In addition to operations in India, the company operates two port terminals under O&M agreements for a cargo handling capability of 41 MTPA in the UAE as of 31 December 2022.
JSW has a diversified presence across India with Non-Major Ports located in Maharashtra and port terminals located at Major Ports across the industrial regions of Goa and Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. JSW has shown consistent financial performance over the last three Fiscals, with the revenue from operations, EBITDA, and profit after tax has grown at a CAGR of 41.01%, 30.51%, and 29.67%, respectively, from Fiscal 2020 to Fiscal 2022.
The Objectives of the Issue
- Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in the wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
- Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Jaigarh Port Limited, for proposed expansion/upgradation works at Jaigarh Port i.e., i) expansion of LPG terminal (“LPG Terminal Project”); ii) setting up an electric sub-station; and iii) purchase and installation of dredger.
- Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal (“Mangalore Container Project”).
- General corporate purposes.
JSW Infrastructure IPO Timetable
| IPO Opening date | 25 September 2023 |
| IPO Closing | 27 September 2023 |
| Basis of Allotment | 03 October 2023 |
| Initiation Refund | 04 October 2023 |
| Credit to Demat Account | 05 October 2023 |
| Listing Date | 06 October 2023 |
JSW Infrastructure IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹2,800 Cr – 235,294,118 shares |
| Fresh Issue | ₹2,800 Cr – 235,294,118 shares |
| Offer for sale | Nil |
| Face value | ₹2 per share |
| Price Band | ₹113 to ₹119 per share |
| Lot size | 126 Shares |
| Retail Allocation | 10% |
| Listing Exchange | BSE & NSE |
JSW Infrastructure IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 126 | ₹14,994 |
| Retail (Max) | 13 | 1638 | ₹194,922 |
| S-HNI (Min) | 14 | 1,764 | ₹209,916 |
| S-HNI (Max) | 66 | 8,316 | ₹989,604 |
| B-HNI (Min) | 67 | 8,442 | ₹1,004,598 |
JSW Infrastructure IPO Reservation Details
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
JSW Infrastructure Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 1,603.57 | 2,273.06 | 3,194.74 | 878.10 |
| Expenses | 1,285.64 | 1,952.76 | 2,561.86 | 505.75 |
| Net income | 284.38 | 332.91 | 735.62 | 271.38 |
| Margin (%) | 17.73 | 14.65 | 23.03 | 30.91 |
JSW Infrastructure Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.62 | 1.81 | 4.01 |
| PE ratio | – | – | 28.18 – 29.68 |
| RONW (%) | 10.29 | 10.21 | 18.80 |
| NAV | – | 17.87 | 21.88 |
| ROCE (%) | 8.15 | 10.88 | 19.49 |
| EBITDA (%) | 53.10 | 51.08 | 53.32 |
| Debt/Equity | 1.17 | 0.96 | 0.54 |
JSW Infrastructure Company Promoters
- Mr. Sajjan Jindal
- Sajjan Jindal Family Trust
Promoter Holding
| Pre Issue Share Holding | 96.42% |
| Post Issue Share Holding | – |
JSW Infrastructure IPO Lead Manager(s)
- JM Financial Limited
- Axis Capital Limited
- Credit Suisse Securities (India) Private Limited
- DAM Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- HSBC Securities & Capital Markets Pvt Ltd
- ICICI Securities Limited
- Kotak Mahindra Capital Company Limited
- SBI Capital Markets Limited (Past IPO Performance)
Registrar of JSW Infrastructure
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: jswinfrastructure.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
JSW INFRASTRUCTURE LIMITED
JSW Centre, Bandra Kurla Complex Bandra (East),
Mumbai 400 051, Maharashtra, India
Phone: +91 22 4286 1000
Email: infra.secretarial@jsw.in
Website: www.jsw.in/infrastructure
JSW Infrastructure IPO Allotment Status
JSW Infra IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
JSW Infrastructure IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
