IPO Details

Bidding Dates

25 Sep '23 - 27 Sep '23

Minimum Investment

₹14,994 / 1 Lots ( 126 Shares )

Price Range

₹113 - ₹119

Maximum Investment

₹194,922 / 13 Lots ( 1638 Shares)

Retail Discount

Not Applicable

Issue Size

₹2,800.00 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors  |   Retail Individual Investors  |  

JSW Infrastructure IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 25, 2023

IPO Closing Date

Sep 27, 2023

Basis of Allotment

Oct 3, 2023

Initiation of Refunds

Oct 4, 2023

Credit of Shares to Demat

Oct 5, 2023

IPO Listing Date

Oct 6, 2023

UPI mandate confirmation

Sep 27, 2023

JSW Infrastructure IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 25, 2023

 0.03 0.63 1.50 0.46

Day 2Sep 26, 2023

 0.58 3.90 4.81 2.25

Day 3Oct 27, 2023

 60.12 16.83 10.87 39.36

JSW Infrastructure IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions buyers 60.12
Non-Institutional Buyers 16.83
Retail Investors 10.87
Total 39.36

About JSW Infrastructure Ltd.

JSW Infrastructure is one of the leading private sector infrastructure companies in India, operating since 1999. JSW Infrastructure is the second-largest commercial port operator in India in terms of cargo handling capacity as of Fiscal 2022. The company offers mechanised and multi-cargo handling services. JSW Infrastructure is based in Maharashtra, India and provides construction and port services. 

JSW Infrastructure Ltd prioritises environmental sustainability and is strategically situated along both the East and West coasts of India. Their journey began with the acquisition of the Mormugao Port Concession in Goa by the JSW Group in 2002. Since then, they have rapidly expanded, now managing nine Port Concessions across India as of December 31, 2022. Apart from India India, they have a notable international presence with two terminals in the UAE, located at Fujairah and Dibba. 

JSW Infrastructure operates in diverse sectors across India, including non-major ports, airports, shipyards, townships, roads, and rail connectivity. Its revenue sources encompass:

  • Vessel-related charges: Income from berth hire charges, port dues, pilotage, and towage billed to vessel owners.
  • Cargo handling charges: Revenue generated from mechanised and multi-cargo handling services through handling fees.
  • Rental income: Earnings from leasing assets like warehouses to third-party logistics providers.
  • Other services: Additional revenue streams include container freight station services, bunkering, and ship repair services.

JSW Infrastructure's operating revenues range from ₹1,176.22 crore for the financial year ending on March 31, 2022, which has grown more than 5x times in just 3 years, i.e. FY 19-20.

Within India, JSW’s installed cargo handling capacity experienced remarkable growth, achieving a Compound Annual Growth Rate (CAGR) of 22.35% from 102.50 million metric tons per annum (MTPA) as of March 31, 2020, to an impressive 153.43 MTPA as of March 31, 2022.

India boasts a robust maritime infrastructure, featuring 12 major ports and around 200 non-major or intermediate ports overseen by state authorities. India is prominent in the global ship recycling arena, ranking among the top 5 countries and capturing a substantial 30% share of the global ship recycling market. 

Within the framework of public-private partnerships (PPPs), a notable 58 projects valued at approximately ₹40,000 crore are in various stages of implementation. Among these, 33 projects, amounting to approximately ₹27,000 crore, have successfully transitioned to operational status. Concurrently, 25 projects, valued at over ₹13,000 crore, are actively being implemented.

By 2030, JSW Infrastructure aims to double its operational capacity from 153.43 million metric tonnes per annum (MTPA) to 300 MTPA, spanning 9 ports and terminals, as part of its market acquisition strategy.

JSW Infrastructure Limited IPO Details

JSW Infrastructure Limited IPO Date

The IPO of JSW Infrastructure Limited is open for subscription from September 25, 2023 to September 27, 2023.

JSW Infrastructure Limited IPO's Price Band

JSW Infrastructure Limited’s IPO is a fresh issue IPO of up to ₹2800 crore. It is a book-building issue. The price range is set to ₹113 to ₹119 per share.

JSW Infrastructure Limited IPO’s Lot Size

The lot size for JSW Infrastructure Limited’s IPO is 126 shares with a minimum investment of ₹14,994.

JSW Infrastructure Limited IPO’s Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  • Making advance payments or fully repaying certain outstanding debts by investing in its wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
  • Funding the capital expenditure needs for the expansion and upgrade projects at Jaigarh Port, including the expansion of the LPG terminal ("LPG Terminal Project"), the establishment of an electric sub-station, and the procurement and installation of a dredger, all through investment in the wholly owned subsidiary, JSW Jaigarh Port Limited.
  • Supporting the capital expenditure requirements for the proposed expansion of the Mangalore Container Terminal ("Mangalore Container Project") by investing in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited.
  • Utilising funds for general corporate purposes.

How To Check the Allotment Status of JSW Infrastructure Limited’s IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of JSW Infrastructure Limited

Registered office: JSW Centre, Bandra Kurla Complex Bandra (East), Mumbai 400 051, Maharashtra, India

Contact Person: Gazal Qureshi, (Company Secretary and Compliance Officer)

Phone: +91 22 42861000

E-mail: infra.secretarial@jsw.in

JSW Infrastructure Ltd Company Financials

Financial year FY23 (₹ in Crore) FY22 (₹ in Crore) FY21 (₹ in Crore)
Total Income 2,399.65 2,378.74 1,678.26
Sales Growth (%) NA 41.75% NA
EBITDA Margin (%) 52.87% 51.08% 53.10%
Profit After Tax (PAT) 515.55 425.98 392.62
PAT Margin (%) 18.64% 13.89% 16.96%
Total Borrowings 314.73 321.92 237.77

Know before investing

Strengths

6

  1. The company has diversified its operations across various aspects, including cargo types, geographic locations, and assets.

  2. Over the past three fiscal years (FY 2020 to FY 2022), the company has achieved impressive growth with a Compound Annual Growth Rate (CAGR) of 41%, 30% and 29% in revenue, EBITDA, and net profit, respectively.

  3. The strategic placement of the company's ports near its clients has facilitated repeated orders due to well-connected infrastructure.

  4. In the 9-month ended FY 2022, a significant portion of cargo (45.8 MMT) consisted of repeat orders from existing clients, representing 69.4% of the total cargo volume.

  5. The company enjoys stable and predictable revenues owing to long-term concessions, committed long-term cargo agreements, and steady tariffs.

  6. Leveraging the reputation of the JSW Group and a highly qualified and experienced management team provides a competitive advantage.

Risks

5

  1. The company's operations depend on concession and license agreements granted by government and quasi-governmental entities, which pose regulatory and operational risks.

  2. A substantial portion (55.8%) of the company's revenue in the 9-month ended FY 2022 came from its top five clients, making it vulnerable to revenue decline if these clients reduce or cease business dealings.

  3. As of December 31, 2022, the company carries a net debt of ₹2,875 crore, making it susceptible to adverse impacts from rising interest rates and increased finance costs.

  4. A significant proportion of the cargo handled includes coking coal, iron ore, and thermal coal; any reduction or elimination of these cargoes could affect profitability.

  5. The company's capacity utilisation rate was at 55.5% in the 9-month ended FY 2022, and its inability to maintain or increase this level could negatively impact its business prospects.

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JSW Infrastructure Ltd IPO FAQs

What is JSW Infrastructure Limited's IPO?

JSW Infrastructure Limited IPO is a fresh issue of up to ₹2,800 Crore. It is a book-building issue. 

When will JSW Infrastructure Limited's IPO be allotted?

The JSW Infrastructure Limited’s shares will be allotted on October 3, 2023.

When will JSW Infrastructure Limited's IPO open for subscription?

The IPO subscription window for JSW Infrastructure Limited will open on September 25, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which is a size of 126 shares, with a sum of ₹14,994.

When will JSW Infrastructure Limited list on exchanges?

JSW Infrastructure Limited will be listed on BSE and NSE. The stock will be listed on October 6, 2023.

How do I check the allotment status of JSW Infrastructure Limited?

 Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and ema

What would be the listing gains on the JSW Infrastructure Limited?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

 

I have finished the application process for JSW Infrastructure Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for JSW Infrastructure Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of JSW Infrastructure Limited using one PAN?

You can submit only one application using your PAN card.