Jsw Infrastructure Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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JSW Infrast

CMP

237.10

+1.65 (0.70%)

  • DRHP
₹119

Offer Price

₹ 2,800.00 Cr

Issue Size

₹ 14,994

Min Investment

37.37x

Times Subscribed

126

Lot size

Time Line

  • 25
    Sep 2023
    Open
  • 27
    Sep 2023
    Close
  • 28
    Sep 2023
    Finalisation of Basis of Allotment
  • 28
    Sep 2023
    Initiation of Refunds
  • 29
    Sep 2023
    Transfer of Shares to Demat Account
  • 03
    Oct 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Continue to pursue greenfield and brownfield expansions with a focus on Non-Major Ports.

  • Pursue acquisition opportunities in similar businesses.

  • Pursue opportunities in synergistic businesses to increase revenue diversification.

  • Increasing our third-party customer base.

  • Diversification of cargo mix.

Products & Services

  • The Company is the fastest growing port-related infrastructure company.

Strengths

  • Fastest growing port-related infrastructure and second largest commercial port operator in India;

  • Strategically located assets at close proximity to JSW Group Customers (Related Parties) and industrial clusters supported by a multi-modal evacuation infrastructure;

  • Predictable revenues driven by long-term concessions, committed long-term cargo and stable tariffs;

  • Diversified operations in terms of cargo profile, geography and assets;

  • Demonstrated project development, execution and operational capabilities;

Risks

  • The company relies on concession and license agreements from government and quasi-governmental organizations to operate and grow its business. The company have several obligations under these agreements and a breach of the terms could lead to termination, which could materially adversely affect its business, results of operations, financial condition and cash flows.

  • A substantial portion of the volume of cargo handled by the company is dependent on a few types of cargo and a significant reduction in, or the elimination of such cargo could adversely affect its profitability.

  • The Company and certain of its Subsidiaries have incurred losses in the past.

  • The environmental clearance for capacity enhancement issued to its Subsidiary, South West Port Limited has been challenged before the National Green Tribunal and is subject to the outcome of certain other litigations. Any adverse outcome in these litigations may have an adverse effect on its business, financial condition, results of operations and cash flows.

  • Adverse change in credit ratings assigned to it may affect the company ability to raise funds for future capital requirements.

Company Promoters

Promoters Holding

Issue For IPO
10.19%
Pre Holding

90.91%

Post Holding

80.72%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 2,273.06 (41.80%) 3,194.74 (40.60%) 18.80 (-)
Gross Profit 2,273.06 (41.80%) 3,194.74 (40.60%) 18.80 (-)
Net Income 2,273.06 (41.80%) 3,194.74 (40.60%) 18.80 (-)
Assets 2,273.06 (41.80%) 3,194.74 (40.60%) 18.80 (-)
Liabilities 2,273.06 (41.80%) 3,194.74 (40.60%) 18.80 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
JSW Infrastructure Ltd 3,194.74 739.83 8,761.07 4,766.44 18.80 4.12 22.22 2.56 0.52
Adani Ports & Special Economic Zone Ltd 20,851.91 5,310.18 114,905.13 114,905.13 11.69 24.58 216.45 4.62 1.09

Book Running Managers

  • Axis Capital Ltd
  • Credit Suisse Securities (India) Pvt Ltd
  • DAM Capital Advisors Ltd
  • HSBC Securities & Capital markets (India) Pvt Ltd
  • ICICI Securities Ltd
  • Kotak Mahindra Capital Company Ltd
  • SBI Capital Markets Ltd
  • JM Financial Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

JSW Centre,
Bandra Kurla Complex Bandra(E),
Mumbai - 400051
Phone : 91-22-42861000 Email : infra.secretarial@jsw.in www.jsw.in/infrastructure

Offer Related Information

Initial public offering of 235,294,117* equity shares of face value of Rs. 2 each ("Equity Shares") of JSW Infrastructure Limited ("The Company" or "Issuer") for cash at a price of Rs. 119 per equity share (including a share premium of Rs. 117 per equity share) ("Issue Price") aggregating to Rs. 2800.00 crores ("Issue"). The issue shall constitute 11.20% of the post-issue paid-up equity share capital of the company. *Subject to finalisation of the basis of allotment. The face value of the... More

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