JSW Infra files papers for `2,800 cr IPO
Sajjan Jindal-owned JSW Infrastructure has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debt and support its expansion plans.
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New Delhi: Sajjan Jindal-owned JSW Infrastructure has filed preliminary papers with capital markets regulator 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 (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP).
