Bookbuilding IPO | ₹2,800 Cr | Listed at BSE, NSE | Mon, Sep 25, 2023 - Wed, Sep 27, 2023
JSW Infrastructure IPO is a book build issue of ₹2,800.00 crores. The issue is entirely a fresh issue of 23.53 crore shares of ₹2,800.00 crore.
JSW Infrastructure IPO bidding started from Sep 25, 2023 and ended on Sep 27, 2023. The allotment for JSW Infrastructure IPO was finalized on Sep 28, 2023. The shares got listed on BSE, NSE on Oct 3, 2023.
JSW Infrastructure IPO price band is set at ₹119 per share. The lot size for an application is 126. The minimum amount of investment required by an retail is ₹14,994 (126 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,764 shares), amounting to ₹2,09,916, and for bNII, it is 67 lots (8,442 shares), amounting to ₹10,04,598.
JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to JSW Infrastructure IPO RHP for detailed Information.
IPO Open
Mon, Sep 25, 2023
IPO Close
Wed, Sep 27, 2023
Issue Price
₹119 per share
Market Cap (Pre-IPO)
₹24,990.00 Cr
| IPO Date | 25 to 27 Sep, 2023 |
| Listed on | Tue, Oct 3, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹113 to ₹119 |
| Issue Price | ₹119 per share |
| Lot Size | 126 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 23,52,94,117 shares (agg. up to ₹2,800 Cr) |
| Fresh Issue | 23,52,94,117 shares (agg. up to ₹2,800 Cr) |
| Share Holding Post Issue | 2,10,00,01,568 shares |
| BSE Script Code / NSE Symbol | 543994 / JSWINFRA |
| ISIN | INE880J01026 |
JSW Infrastructure IPO offers total 23,52,94,117 shares. Out of which 17,64,70,589 (75.00%) allocated to QIB, 7,05,88,237 (30.00%) allocated to QIB (Ex- Anchor), 3,52,94,117 (15.00%) allocated to NII 2,35,29,411 (10.00%) allocated to RII and 10,58,82,352 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 17,64,70,589 (75.00%) | NA |
| − Anchor Investor Shares Offered | 10,58,82,352 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 7,05,88,237 (30.00%) | NA |
| NII (HNI) Shares Offered | 3,52,94,117 (15.00%) | NA |
| − bNII > ₹10L | 2,35,29,412 (10.00%) | 13,338 |
| − sNII < ₹10L | 1,17,64,705 (5.00%) | 6,669 |
| Retail Shares Offered | 2,35,29,411 (10.00%) | 1,86,741 |
| Total Shares Offered | 23,52,94,117 (100.00%) |
Investors can bid for a minimum of 126 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 126 | ₹14,994 |
| Retail (Max) | 13 | 1,638 | ₹1,94,922 |
| S-HNI (Min) | 14 | 1,764 | ₹2,09,916 |
| S-HNI (Max) | 66 | 8,316 | ₹9,89,604 |
| B-HNI (Min) | 67 | 8,442 | ₹10,04,598 |
JSW Infrastructure IPO raises ₹1,260.00 crore from anchor investors. JSW Infrastructure IPO Anchor bid date is September 22, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 22, 2023 |
| Shares Offered | 10,58,82,352 |
| Anchor Portion (₹ Cr.) | 1,260.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 27, 2023 |
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 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 9,450.66 | 9,429.46 | 8,254.55 | 7,191.85 |
| Total Income | 3,372.85 | 2,378.74 | 1,678.26 | 1,237.37 |
| Profit After Tax | 749.51 | 330.44 | 284.62 | 196.53 |
| NET Worth | 3,934.64 | 3,212.13 | 2,831.18 | 2,488.23 |
| Reserves and Surplus | 3,645.75 | 3,208.98 | 2,829.84 | 2,486.53 |
| Total Borrowing | 4,243.70 | 4,408.69 | 3,945.82 | 3,102.57 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in our wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited | 880.00 |
| 2 | Financing capital expenditure requirements through investment in our 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; | 1,029.04 |
| 3 | Financing capital expenditure requirements through investment in our wholly owned Subsidiary, JSW Mangalore Container Terminal Private Limited, for proposed expansion at Mangalore Container Terminal (“Mangalore Container Project”); and | 151.05 |
| 4 | General corporate purposes. | 666.05 |
| KPI | |
|---|---|
| ROE | 18.33% |
| ROCE | 19.49% |
| RoNW | 18.80% |
| PAT Margin | 22.22% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.12 | |
| P/E (x) | 29.67 | 19.38 |
| Promoter Holding | 96.42% | 85.61% |
| Market Cap | ₹24,990.00 Cr. |
The JSW Infrastructure IPO is subscribed 39.36 times on September 27, 2023 7:02:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 60.12 | 7,05,88,236 | 4,24,36,96,632 |
| NII | 16.83 | 3,52,94,118 | 59,41,72,278 |
| bNII (bids above ₹10L) | 17.94 | 2,35,29,412 | 42,21,76,230 |
| sNII (bids below ₹10L) | 14.62 | 1,17,64,705 | 17,19,96,048 |
| Retail | 10.87 | 2,35,29,411 | 25,56,58,662 |
| Total | 39.36 | 12,94,11,765 | 5,09,35,27,572 |
Total Application : 16,90,299
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission)*** | 44.60 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Issue, Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs. (1)(2)(3)(4) | 3.05 |
| 3 | Fees payable to the Registrar to the Issue | 0.30 |
| 4 | Fees payable to the auditors, consultants and industry experts | 1.00 |
| 5 | Other expenses (i) Listing fees, SEBI filing fees, Stock Exchange processing fees, book building software fees and other regulatory expenses | 8.22 |
| 6 | Other expenses (ii) Printing and distribution of stationery expenses | 3.91 |
| 7 | Other expenses (iii) Advertising and marketing expenses for the Issue | 6.31 |
| 8 | Other expenses (iv) Fees payable to the monitoring agency | 0.45 |
| 9 | Other expenses (v) Fees payable to the legal counsel | 5.32 |
| 10 | Other expenses (vi) Miscellaneous | 0.70 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹119.00 | ₹119.00 |
| Open | ₹143.00 | ₹143.00 |
| Low | ₹141.75 | ₹142.20 |
| High | ₹157.30 | ₹157.30 |
| Last Trade | ₹157.30 | ₹157.30 |
Lead Manager Reports
JSW Infrastructure IPO is a main-board IPO of 23,52,94,117 equity shares of the face value of ₹2 aggregating up to ₹2,800 Crores. The issue is priced at ₹119 per share. The minimum order quantity is 126.
The IPO opens on Mon, Sep 25, 2023, and closes on Wed, Sep 27, 2023.
Kfin Technologies Ltd. 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 Mon, Sep 25, 2023 and closes on Wed, Sep 27, 2023.
JSW Infrastructure IPO lot size is 126, and the minimum amount required for application is ₹14,994.
You can apply in JSW Infrastructure IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Sep 29, 2023. Check the JSW Infrastructure IPO allotment status.
The JSW Infrastructure IPO listing date is on Tue, Oct 3, 2023.
