JSW Infrastructure Plans to Utilize IPO Proceeds for Debt Reduction and Strengthening LNG Infrastructure

JSW Infrastructure, a subsidiary of the JSW Group conglomerate focusing on port business, intends to utilize the funds raised from its initial public offering (IPO) for multiple purposes. These include debt repayment, the construction of an LPG terminal at Jaigarh port, and expansion efforts at the container terminal in New Mangalore Port Trust. Approximately Rs 900 crore from the IPO proceeds will be allocated for debt repayment, with another Rs 900 crore earmarked for the construction of the LPG terminal at Jaigarh port. Furthermore, Rs 250 crore will be dedicated to expanding JSW's container terminal at NMPT, while approximately Rs 750 crore will be utilized for various expansion projects within JSW Infrastructure.

JSW Infrastructure, under the leadership of Sajjan Jindal, had submitted its Draft Red Herring Prospectus (DRHP) to the capital markets regulator SEBI on May 9, signaling its intentions to go public.

The JSW Group, valued at $23 billion, operates across diverse sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports, among others.