J M Baxi Ports set to file for Rs.2,500-Cr IPO

Bain Capital-backed J M Baxi Ports & Logistics Ltd is set to file draft papers for an initial public offering (IPO) worth around INR 2,500 crore (around USD 315 million). It is eyeing a primary funding along with a small secondary part. Bain Capital, which has a 35% stake in J M Baxi Ports & Logistics, is likely to participate in the fundraise. The company would use the fresh funds torepay debt and for investments in its business and potential acquisitions.