IPO
JSW Infra's Rs.2,800-Cr IPO subscribed 37x
The INR 2,800 crore initial public offering (IPO) of maritime services company JSW Infrastructure has been subscribed 37.37 times. Qualified institutional buyers (QIB) have bid for 57.09 times their reserved portion (75% of the issue size). Retail investors have bought 10.31 times their allotted quota, while the portion set aside for high networth individuals was subscribed 15.99 times. The completely fresh issue of shares was priced at INR 113-119 per share. The IPO will enable India's second largest commercial port operator to reduce its debt burden by INR 880 crore. At the end of June 2023, it had total outstanding borrowings at INR 4,228.4 crore on a consolidated basis. Further, INR 1,029.04 crore will go towards expansion or upgradation works at Jaigarh Port, owned by the company's subsidiary JSW Jaigarh Port, and INR 151.05 crore will be utilised for the Mangalore Container Terminal (owned by subsidiary JSW Mangalore Container Terminal). The remaining amount will be used for general corporate purposes.
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