Sajjan Jindal-owned JSW Infrastructure’s initial public offering will open for public subscription on September 25. The IPO will be open for anchor investors on September 22, as per the Red Herring Prospectus (RHP) before the Securities Exchange Board of India (SEBI). According to the RHP, the IPO comprises fresh issue of shares costing ₹2,800 crore. The price band has been set at ₹113-119 a share.
“Some of the key details of the IPO are – The price band ₹113-119 with a bid lot of 126 shares, the total offer size ₹2,800 crores and the entire offering is primary,” Mint quoted the company statement on Monday.
The JSW Infra IPO will be open for public subscription on September 25 and close on September 27. It is the third company of the JSW Group to be listed on the bourses after JSW Energy and JSW Steel. The company will use the proceeds to retire its debt and fund its capacity expansion projects, as per the DRHP.
The ports business of the JSW Group had filed the Draft Red Herring Prospectus (DRHP) on May 9. JM Financial Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd, DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are the book-running lead managers to the issue.