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JSW Infrastructure IPO is a book built issue of Rs 2,800.00 crores. The issue is entirely a fresh issue of 23.53 crore shares.
JSW Infrastructure IPO bidding started from September 25, 2023 and ended on September 27, 2023. The allotment for JSW Infrastructure IPO was finalized on Thursday, September 28, 2023. The shares got listed on BSE, NSE on October 3, 2023.
JSW Infrastructure IPO price band is set at ₹113 to ₹119 per share. The minimum lot size for an application is 126 Shares. The minimum amount of investment required by retail investors is ₹14,994. The minimum lot size investment for sNII is 14 lots (1,764 shares), amounting to ₹209,916, and for bNII, it is 67 lots (8,442 shares), amounting to ₹1,004,598.
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 and SBI Capital Markets Limited are the book running lead managers of the JSW Infrastructure IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to JSW Infrastructure IPO RHP for detailed information.
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | October 3, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹113 to ₹119 per share |
| Lot Size | 126 Shares |
| Total Issue Size | 235,294,118 shares (aggregating up to ₹2,800.00 Cr) |
| Fresh Issue | 235,294,118 shares (aggregating up to ₹2,800.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 1,864,707,450 |
| Share holding post issue | 2,100,001,568 |
JSW Infrastructure IPO offers 235,294,117 shares. 70,588,236 (30.00%) to QIB, 35,294,118 (15.00%) to NII, 23,529,411 (10.00%) to RII 105,882,352 (45.00%) to Anchor investors. 186,741 RIIs will receive minimum 126 shares and 6,669 (sNII) and 13,338 (bNII) will receive minimum 1,764 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 105,882,352 (45.00%) | NA |
| QIB Shares Offered | 70,588,236 (30.00%) | NA |
| NII (HNI) Shares Offered | 35,294,118 (15.00%) | |
| bNII > ₹10L | 23,529,412 (10.00%) | 13,338 |
| sNII < ₹10L | 11,764,705 (5.00%) | 6,669 |
| Retail Shares Offered | 23,529,411 (10.00%) | 186,741 |
| Total Shares Offered | 235,294,117 (100%) |
JSW Infrastructure IPO raises Rs 1,260.00 crore from anchor investors. JSW Infrastructure IPO Anchor bid date is September 22, 2023. JSW Infrastructure IPO Anchor Investors list
| Bid Date | September 22, 2023 |
| Shares Offered | 105,882,352 |
| Anchor Portion Size (In Cr.) | 1,260.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 27, 2023 |
JSW Infrastructure IPO opens on September 25, 2023, and closes on September 27, 2023.
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Thursday, September 28, 2023 |
| Initiation of Refunds | Thursday, September 28, 2023 |
| Credit of Shares to Demat | Friday, September 29, 2023 |
| Listing Date | Tuesday, October 3, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
Investors can bid for a minimum of 126 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
Mr. Sajjan Jindal and Sajjan Jindal Family Trust are the promoters of the company.
| Share Holding Pre Issue | 96.42% |
| Share Holding Post Issue | 85.61% |
Incorporated in 2006, JSW Infrastructure Limited provides maritime-related services including, cargo handling, storage solutions and logistics services. The company develop and operates ports and port terminals under Port Concessions.
JSW Infrastructure Limited is a part of the JSW Group. The company partners with JSW Group Customers (Related Parties) to pursue growth initiatives. JSW Infrastructure is the 2nd largest commercial port operator in the country in terms of cargo handling capacity in Fiscal 2022.
The company currently handle various types of cargo, including dry bulk, break bulk, liquid bulk, gases and containers. The company currently handling cargo also include thermal coal, coal (other than thermal coal), iron ore, sugar, urea, steel products, rock phosphate, molasses, gypsum, barites, laterites, edible oil, LNG, LPG, and containers.
JSW Infrastructure ports and port terminals typically have long concession periods ranging between 30 to 50 years, providing the company with long-term visibility of revenue streams.
The company has a 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 Infrastructure's international presence includes 2 terminals at Fujairah and Dibba in the UAE.
JSW Infrastructure Limited operates nine Port Concessions in India with an installed cargo handling capacity of 158.43 MTPA as of June 30, 2023. The company's installed cargo handling capacity in India has grown at a CAGR of 15.27% from March 31, 2021 to March 31, 2023.
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 7,191.85 | 8,254.55 | 9,429.46 | 9,450.66 |
| Revenue | 1,237.37 | 1,678.26 | 2,378.74 | 3,372.85 |
| Profit After Tax | 196.53 | 284.62 | 330.44 | 749.51 |
| Net Worth | 2,488.23 | 2,831.18 | 3,212.13 | 3,934.64 |
| Reserves and Surplus | 2,486.53 | 2,829.84 | 3,208.98 | 3,645.75 |
| Total Borrowing | 3,102.57 | 3,945.82 | 4,408.69 | 4,243.70 |
The market capitalization of JSW Infrastructure IPO is Rs 24990 Cr.
| KPI | Values |
|---|---|
| ROE | 18.33% |
| ROCE | 19.49% |
| RoNW | 18.80% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.12 | |
| P/E (x) | 29.67 | 19.38 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1. 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.
2. 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.
3. 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").
4. General corporate purposes.
[Dilip Davda] An IPO from JSW group is marking its opening after a gap of 13+ years. JIL is an infrastructure segment arm of the group and it has posted steady growth in its top and bottom lines for the reported periods. Based on annualized FY24 earnings, the issue appears reasonably priced. Investors may consider parking funds for the medium to long term. Read detail review...
The JSW Infrastructure IPO is subscribed 39.36 times on September 27, 2023 7:02:00 PM. The public issue subscribed 10.87 times in the retail category, 60.12 times in the QIB category, and 16.83 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 60.12 |
| NII | 16.83 |
| bNII (bids above ₹10L) | 17.94 |
| sNII (bids below ₹10L) | 14.62 |
| Retail | 10.87 |
| Total | 39.36 |
Total Application : 1,690,299 (9.05 times)
| Listing Date | October 3, 2023 |
| BSE Script Code | 543994 |
| NSE Symbol | JSWINFRA |
| ISIN | INE880J01026 |
| Final Issue Price | ₹119 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹119.00 |
| ₹143.00 |
| ₹141.75 |
| ₹157.30 |
| ₹157.30 |
| NSE |
|---|
| ₹119.00 |
| ₹143.00 |
| ₹142.20 |
| ₹157.30 |
| ₹157.30 |
JSW Infrastructure Limited
JSW Centre,
Bandra Kurla Complex Bandra (East),
Mumbai - 400 051
Phone: +91 22 4286 1000
Email: infra.secretarial@ jsw.in
Website: https://www.jsw.in/infrastructure
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: jswinfrastructure.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Lead Manager Reports
JSW Infrastructure IPO is a main-board IPO of 235,294,118 equity shares of the face value of ₹2 aggregating up to ₹2,800.00 Crores. The issue is priced at ₹113 to ₹119 per share. The minimum order quantity is 126 Shares.
The IPO opens on September 25, 2023, and closes on September 27, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in JSW Infrastructure IPO using UPI as a payment gateway. Zerodha customers can apply in JSW Infrastructure IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in JSW Infrastructure IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The JSW Infrastructure IPO opens on September 25, 2023 and closes on September 27, 2023.
JSW Infrastructure IPO lot size is 126 Shares, and the minimum amount required is ₹14,994.
You can apply in JSW Infrastructure IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for JSW Infrastructure IPO will be done on Thursday, September 28, 2023, and the allotted shares will be credited to your demat account by Friday, September 29, 2023. Check the JSW Infrastructure IPO allotment status.
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