JSW INFRA IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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JSW INFRA Limited IPO GMP

The JSW Infrastructure IPO, valued at Rs 2,800.00 crores, is a book-built issue comprising entirely of fresh shares totaling 23.53 crore. The bidding phase for the IPO commenced on September 25, 2023, concluding on September 27, 2023, with allotments finalized by September 28, 2023. Trading of shares commenced on both the BSE and NSE on October 3, 2023.

The price band for the JSW Infrastructure IPO was set between ₹113 to ₹119 per share, with a minimum lot size of 126 shares per application. Retail investors were required to invest a minimum of ₹14,994. For sNII investors, the minimum lot size investment was 14 lots (1,764 shares), amounting to ₹209,916, while for bNII investors, it was 67 lots (8,442 shares), totaling ₹1,004,598.

The book running lead managers for the JSW Infrastructure IPO include JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Dam Capital Advisors Ltd (formerly known as IDFC Securities Ltd), HSBC Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited. KFin Technologies Limited is appointed as the registrar for the issue.

OBJECTIVE OF IPO

1. Investment in our wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited, for prepayment or repayment, in full or part, of all or a portion of certain of their outstanding borrowings.

JSW Dharamtar Port, located in Raigad District, Maharashtra, sits along the Amba River, 23 Nautical Miles from Mumbai Harbour. It boasts 5 berths, handling up to 34 MTPA of bulk and break-bulk cargo. The port plays a pivotal role in supporting JSW Steel and JSW Cement's manufacturing operations in Dolvi, managing various raw materials and finished steel products.

JSW Jaigarh Port is a deepwater sea port strategically located on the west coast between Mumbai and Goa. Completed in just 20 months, it boasts 7 operational berths with a cargo handling capacity of 50 MTPA.

2. Investment in our wholly owned Subsidiary, JSW Jaigarh Port Limited, for financing its capital expenditure requirements for proposed expansion at Jaigarh Port

i) LPG Terminal Project

ii) Setting up an electric sub-station

iii) Purchase and installation of dredger.

3. Investment in our wholly owned Subsidiary, JSW Mangalore Container Terminal Private Limited, for financing its capital expenditure requirements to proposed expansion at Mangalore Container Terminal (“Mangalore Container Project”).

4. General corporate purposes.