JSW Infrastructure IPO GMP (Grey Market Premium)
by 5paisa Research Team
20 Sep 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 03-Oct-23
- IPO Price Range ₹113
- Listing Price ₹143
- Listing Change 20.2 %
- Last Traded Price ₹275.5
- Current Change 131.5 %
JSW IPO Details
- Open Date 25-Sep-23
- Close Date 27-Sep-23
- Lot Size 126
- IPO Size ₹ 2,800 Cr
- IPO Price Range ₹ 113 to ₹ 119
- Min Investment ₹ 14,238
- Listing Exchange BSE, NSE
- Basis of Allotment 03-Oct-23
- Refunds 04-Oct-23
- Credit to Demat Account 05-Oct-23
- Listing Date 06-Oct-23
JSW Infrastructure IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 25-Sep-23 | 0.03 | 0.63 | 1.50 | 0.46 |
| 26-Sep-23 | 0.58 | 3.90 | 4.81 | 2.25 |
| 27-Sep-23 | 60.12 | 16.83 | 10.86 | 39.36 |
JSW IPO Synopsis
JSW Infrastructure Limited IPO is all set to open from 25th September to 27th September 2023. The company is involved in offering maritime-related services such as cargo handling, storage solutions and logistics services. The IPO includes a fresh issue of 235,294,118 equity shares worth ₹2800.00 cr. The share allotment date is 3rd October, and the IPO will be listed on 6th October on the stock exchanges. The price band is ₹113 to ₹119 per share and the lot size is 126 shares.
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 for this IPO, while KFin Technologies Limited is the registrar.
Objectives of JSW Infrastructure IPO:
● To finance the capital expenditure in order to invest 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.
● To repay or prepay in part or full for all or a portion of the outstanding borrowings through investment in the wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
● To fund capital expenditure requirements by investing in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal ("Mangalore Container Project").
● Fund general corporate purposes.
JSW Infrastructure IPO Video:
About JSW Infrastructure
Established in 2006, JSW Infrastructure Limited offers maritime-related services such as cargo handling, storage solutions and logistics services. The company specializes in the development and operation of ports and port terminals through Port Concessions. It is also the country's second-largest commercial port operator in terms of cargo handling capacity in FY2022. JSW Infrastructure's ports and port terminals usually have extensive concession periods, lasting from 30 to 50 years, ensuring a stable and long-term revenue outlook.
JSW Infrastructure is an integral part of the JSW Group. It partners with JSW Group Customers (Related Parties) to pursue growth opportunities. The company’s portfolio includes different cargo types, including dry bulk, break bulk, liquid bulk, gases, and containers. The company also handles cargo including thermal coal, non-thermal coal, iron ore, sugar, urea, steel products, rock phosphate, molasses, gypsum, barites, laterites, edible oil, LNG, LPG, and containers.
JSW Infrastructure has its presence across India, with Non-Major Ports situated in Maharashtra and port terminals strategically positioned at Major Ports in the industrial hubs of Goa and Karnataka on the west coast, as well as Odisha and Tamil Nadu on the east coast. Additionally, the company provides services internationally with two terminals located in Fujairah and Dibba, UAE.
Peer Comparison
● Adani Ports and SEZ Limited
For More Information:
Webstory on JSW Infrastructure IPO
JSW Infrastructure IPO GMP
JSW Infrastructure Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Revenue | 2273.05 | 1603.57 | 1143.14 |
| EBITDA | 1215.11 | 891.13 | 713.41 |
| PAT | 330.43 | 284.62 | 196.52 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Total Assets | 9429.46 | 8254.55 | 7191.85 |
| Share Capital | 59.929 | 59.929 | 59.929 |
| Total Borrowings | 5957.58 | 5166.12 | 4440.53 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 1176.23 | 990.19 | 258.70 |
| Net cash from / (used in) investing activities | -801.32 | -1636.79 | -378.52 |
| Net cash flow from / (used in) financing activities | 2.55 | 640.86 | 226.22 |
| Net increase (decrease) in cash and cash equivalents | 377.46 | -5.75 | 106.40 |
JSW IPO Key Points
-
Strengths
1. The company is the fastest-growing port-related infrastructure company and the second-largest commercial port operator in India.
2. It is strategically located assets in close proximity to Anchor Customers and industrial clusters supported by a multimodal evacuation infrastructure.
3. The company enjoys predictable revenues driven by long-term concessions, committed long-term cargo and stable tariffs.
4. It has diversified operations in terms of cargo profile, geography and assets.
5. It also has demonstrated project development, execution and operational capabilities.
6. The company benefits from the strong corporate lineage of the JSW Group and a qualified and experienced management team.
7. Strong financial metrics with a growing margin profile, return metrics and growth.
-
Risks
1. The company relies on concession and license agreements from government and quasi-governmental organizations to operate and grow our business. Thus, any breach of the terms could lead to termination, and impact the business.
2. O&M agreements are granted for limited periods of up to 5 years and concession and license agreements are entered into for limited periods ranging from 30 to 50 years. Any failure to renew them with equally favourable terms can be challenging and impact profitability.
3. A substantial portion of THE revenue derives from the top five customers.
4. Exchange rate fluctuations could materially and adversely impact the business.
5. The company can be adversely affected by an increase in wharfage and similar costs payable by the company as part of the concession agreement for our Jaigarh Port.
6. Operates in a capital-intensive and competitive industry.
7. The company has substantial indebtedness which requires significant cash flows to service and limits the ability to operate freely.
8. The company and certain of its Subsidiaries have incurred losses in the past.
9. Its financial condition and business prospects could be materially and adversely affected if the company can not complete its greenfield and brownfield expansion projects as planned or if it experiences delays or cost overruns.
10. Change in credit rating may impact the business.
JSW
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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JSW IPO FAQs
What is the minimum lot size and investment required for the JSW Infrastructure IPO?
The minimum lot size of JSW Infrastructure is 126 shares and the investment required is ₹14,238.
What is the price band of JSW Infrastructure IPO?
The price band of JSW Infrastructure IPO is ₹113 to ₹119.
When does the JSW Infrastructure issue open and close?
JSW Infrastructure is open from 25th September to 27th September 2023.
What is the size of the JSW Infrastructure IPO?
The JSW Infrastructure IPO size is ₹2800.00 cr., which includes a fresh issue of 235,294,118 equity shares.
What is the allotment date of the JSW Infrastructure IPO?
The share allotment date of JSW Infrastructure IPO is 3rd of October 2023.
What is the JSW Infrastructure IPO listing date?
The JSW Infrastructure IPO will be listed on the 6th of October 2023.
Who are the book runners for the JSW Infrastructure IPO?
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 for JSW Infrastructure IPO.
What is the objective of JSW Infrastructure IPO?
JSW Infrastructure plans to utilize the raised capital from IPO to:
1. To finance the capital expenditure in order to invest 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.
2. To repay or prepay in part or full for all or a portion of the outstanding borrowings through investment in the wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
3. To fund capital expenditure requirements by investing in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal ("Mangalore Container Project").
4. Fund general corporate purposes.
How to apply for the JSW Infrastructure IPO?
To apply for JSW Infrastructure IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the JSW Infrastructure IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of JSW Infrastructure IPO
Contact Information
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
JSW Infrastructure IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: jswinfrastructure.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
JSW Infrastructure IPO Lead Manager
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
SBI Capital Markets Limited
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