JSW Infra set to raise Rs 2,800 cr via IPO

NEW DELHI: Sajjan Jindal-owned JSW Infrastructure has filed preliminary papers with Sebi to raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debt and support its expansion plans.

JSW Infrastructure will be the third company of the JSW Group to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9.

Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale component, and the promoters will not be diluting their current stake through the issue. It will use the proceeds to retire its debt (Rs 2,875 cr as on Dec 31, 2022) as well as to fund its capacity expansion projects, as per the draft red herring prospectus.