Sajjan Jindal-led JSW Group’s business spans across cement, paint, venture capital and sports. Sajjan Jindal and his family own the majority stake in JSW Infrastructure. This entire IPO will be a fresh issue. The company’s nine ports have an installed cargo handling capacity of 158.43 MTPA by June 2023. The company will use the proceeds from this issue to repay debt, capital expenditure and other general corporate purposes. The unlisted shares of the company are trading with a premium of Rs 18-19 in the gray market.
how much money will have to be invested
75 per cent of the issue is reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors. Bids can be made for a minimum of 126 shares. That means retail investors will have to invest at least Rs 14,994. JM Financial, Axis Capital, Credit Suisse Securities, DAM Capital Advisors, HSBC Securities, ICICI Securities, Kotak Mahindra Capital and SBI Capital are the book running lead managers to the issue. KFin Technologies has been made the registrar.
Before the IPO, the company raised Rs 1260 crore from anchor investors. The company allotted 10,58,82,352 shares to anchor investors at a price of Rs 119 each. 11 mutual funds also participated in it. As far as FPIs are concerned, 5.6 percent of the anchor placement was allotted to the Government of Singapore and 1 percent to The Monetary Authority of Singapore. With this, Morgan Stanley got 3.5 percent shares of the anchor portion and Goldman Sachs got 0.4 percent shares. Sunil Singhania-led Abakkus Investment has been given about two percent shares.
