JSW Infrastructure IPO: JSW Infrastructure Limited, a leading player in the Indian infrastructure sector, has announced its Initial Public Offering which is set to open on 25 September 2023 and will close on 27 September 2023.
The IPO is currently forthcoming and has generated considerable interest among investors. You can pre-apply for the JSW Infrastructure IPO on Upstox. which means the pre-apply open date, usually begins a day before the IPO opens for the subscription.
JSW Infrastructure IPO
JSW Infrastructure has listed its symbol as JSWINFRA for the IPO. The issue size is pegged at up to Rs. 28,000 million, which includes an anchor allocation of 105,882,352 equity shares. The IPO will be 100% book building, and the price range for the shares has been set between Rs. 113 and Rs. 119.
The face value of the equity shares is Rs. 2 with a tick size of Re. 1. Investors can bid for a minimum of 126 equity shares and in multiples thereof. The maximum subscription amount for retail investors has been capped at Rs. 2,00,000.
For Qualified Institutional Buyers, the maximum bid quantity is 136,283,112 equity shares in multiples of 126 equity shares, calculated at the lower price band. For NIB, the maximum bid quantity is 61,946,892 equity shares, also in multiples of 126 equity shares calculated at the lower price band. Axis Bank Limited and ICICI Bank Limited are the sponsor banks for the IPO.
JSW Infrastructure IPO Details
| Open Date | 25-Sep-23 |
| Close Date | 27-Sep-23 |
| Lot Size | 126 |
| IPO Size | ₹ 2,800 Cr |
| IPO Price Range | ₹ 113 to ₹ 119 |
| Min Investment | ₹ 14,238 |
| Listing Exchange | BSE, NSE |
| Basis of Allotment | 03-Oct-23 |
| Refunds | 04-Oct-23 |
| Credit to Demat Account | 05-Oct-23 |
| Listing Date | 06-Oct-23 |
| DRHP | Download |
| RHP | Download |
Apply for the JSW Infrastructure IPO
You can pre-apply for the JSW Infrastructure IPO on Upstox. Follow these steps to pre-apply for the IPO:
- Click on the “Open an Account“
- Fill in the required details
- Complete the verifying your identity
- Login to Your Account
- in the IPO section, click the ‘JSW Infrastructure IPO’ tab
- fill in the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Pre-Apply’
JSW Infrastructure IPO GMP Status
GMP is the rate at which the IPO shares are traded in the grey market before they get listed on the stock exchange. It’s an unofficial way of measuring the market’s sentiment about the IPO.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price |
|---|---|---|---|---|
| 26-09-2023 | 119.00 | ₹19 | 1800/25200 | ₹138 (15.97%) |
| 25-09-2023 | 119.00 | ₹18 | 1700/23800 | ₹137 (15.13%) |
| 24-09-2023 | 119.00 | ₹18 | 1700/23800 | ₹137 (15.13%) |
| 23-09-2023 | 119.00 | ₹17 | 1600/22400 | ₹136 (14.29%) |
| 22-09-2023 | 119.00 | ₹15 | 1400/19600 | ₹134 (12.61%) |
| 21-09-2023 | 119.00 | ₹15 | 1400/19600 | ₹134 (12.61%) |
| 20-09-2023 | 119.00 | ₹14 | 1400/19600 | ₹133 (11.76%) |
| 19-09-2023 | 119.00 | ₹14 | 1300/18200 | ₹133 (11.76%) |
| 18-09-2023 | 119.00 | ₹18 | 1800/25200 | ₹137 (15.13%) |
| 17-09-2023 | ₹0 | — | ₹ (0%) |
JSW Infrastructure IPO Subscription Status
When a company decides to go public, it issues shares to raise capital through an IPO. However, before the shares are available for trading on the stock market, investors can buy shares of the company before they are officially listed on a stock exchange. The level of subscription can be a strong indicator of the market’s sentiment towards the company.
On the first day, 25 September 2023, the Qualified Institutional Buyers (QIB) showed a tepid response, subscribing only 0.03x of the shares offered to them. The Non-Institutional Investors (NII) displayed a more robust interest, with a subscription of 0.63x. Segregating the NII into two categories – Small Non-Institutional Investors (SNII) with bids below ₹10L and Big Non-Institutional Investors (BNII) with bids above ₹10L – the subscription stood at 0.65x and 0.63x, respectively. Retail Individual Investors (RII) outpaced all other categories, registering a commendable subscription of 1.50x. The total subscription for the day was 0.46x, representing less than half the shares on offer.
The second day, 26 September 2023, brought more momentum to the subscription process. The QIB category saw an increased interest, subscribing 0.58x of the shares on offer. The NII showed a substantial surge with a 3.90x subscription.
Under the NII umbrella, SNII and BNII showed a subscription of 3.77x and 3.97x, respectively. The RII category continued its strong show, witnessing a subscription of 4.81x. With the enthusiastic response from all quarters, the total subscription for the day reached a notable 2.25x.
JSW Infrastructure IPO Buy or Not
Let’s delve into the financials to get a clearer picture. The company has shown consistent growth over the past three fiscal years. In FY22, the revenue stood at Rs. 2273.05 crores, up from Rs. 1603.57 crores in FY21 and Rs. 1143.14 crores in FY20.
The EBITDA has also seen a steady rise, clocking in at Rs. 1215.11 crores in FY22, compared to Rs. 891.13 crores in FY21 and Rs. 713.41 crores in FY20. The Profit After Tax (PAT) has followed suit, registering Rs. 330.43 crores in FY22, an increase from Rs. 284.62 crores in FY21 and Rs. 196.52 crores in FY20.
The company’s total assets have grown from Rs. 7191.85 crores in FY20 to Rs. 9429.46 crores in FY22. However, it’s worth noting that the total borrowings have also increased from Rs. 4440.53 crores in FY20 to Rs. 5957.58 crores in FY22.
The cash flow statements reveal a positive trend as well. Net cash generated from operating activities was Rs. 1176.23 crores in FY22, up from Rs. 990.19 crores in FY21 and Rs. 258.70 crores in FY20. Although the company has seen negative cash flow from investing activities, the net increase in cash and cash equivalents has been positive, standing at Rs. 377.46 crores in FY22.
So, what does all this mean for investors?
Firstly, the company’s consistent growth in revenue, EBITDA, and PAT indicates a strong financial performance. The increasing net cash generated from operating activities also suggests that the company has a healthy operational model. However, the rising total borrowings could be a point of concern and should be considered when making an investment decision.
Secondly, JSW Infrastructure operates in a sector that is poised for growth, given India’s focus on infrastructure development. The company’s strategic locations near industrial and mineral-rich regions provide it with a competitive advantage.
Lastly, being part of the larger JSW Group provides the company with a certain level of stability and an established customer base, which includes long-term contracts with JSW Group entities. The JSW Infrastructure IPO seems to be a promising investment for those looking at long-term gains, given its strong financials and growth prospects in the infrastructure sector.
JSW Infrastructure IPO allotment status
| Application | Lots | Shares |
|---|---|---|
| Retail (Min) | 1 | 126 |
| Retail (Max) | 13 | 1638 |
| S-HNI (Min) | 14 | 1,764 |
| S-HNI (Max) | 66 | 8,316 |
| B-HNI (Min) | 67 | 8,442 |
When the allotment process is completed, you can check the status of your application on the Upstox. how to check the JSW Infrastructure IPO allotment status:
- Login to your Upstox Account
- find the ‘Invest in IPO’ section.
- Click on the ‘View all option
- Click on My applications
- under the History section
- your JSW Infrastructure IPO allotment status will be mentioned.
| QIB Shares Offered | 75.00% |
| NII (HNI) Shares Offered | 15.00% |
| Retail Shares Offered | 10.00% |
About JSW Infrastructure
JSW Infrastructure Limited, a key player in India’s infrastructure landscape, has emerged as the fastest-growing port-related infrastructure company in terms of installed cargo handling capacity and cargo volumes from Fiscal 2021 to Fiscal 2023. According to a CRISIL Report, the company is the second-largest commercial port operator in India as of Fiscal 2023.
Starting with a single Port Concession at Mormugao, Goa, acquired by the JSW Group in 2002, the company has expanded its operations to nine Port Concessions across India as of June 30, 2023.
The company’s installed cargo handling capacity in India has grown at a Compound Annual Growth Rate (CAGR) of 15.27% from 119.23 MTPA as of March 31, 2021, to 158.43 MTPA as of March 31, 2023. During the same period, the cargo volumes handled by the company in India grew at a CAGR of 42.76% from 45.55 MMT to 92.83 MMT.
JSW Infrastructure’s Port Concessions are strategically located near industrial regions in Maharashtra, Goa, Karnataka, Tamil Nadu, Andhra Pradesh, and Telangana, as well as mineral-rich belts in Chhattisgarh, Jharkhand, and Odisha.
The company has also diversified its customer base to include third-party customers across geographies. Cargo handled for third-party customers in India grew at a CAGR of 65.58% from 11.30 MMT in Fiscal 2021 to 30.98 MMT in Fiscal 2023. The company aims to capitalize on India’s strong economic growth by expanding its cargo profile, and geographical presence, and diversifying its revenue streams.
Financially, the company has shown consistent performance over the last three fiscal years. Its revenue from operations, EBITDA, and profit after tax have grown at a CAGR of 41.15%, 42.06%, and 62.28%, respectively, from Fiscal 2021 to Fiscal 2023.
JSW Infrastructure IPO price?
– The JSW Infrastructure IPO price band from ₹ 113 to ₹ 119 per equity share.
JSW Infrastructure IPO date?
– The public issue opened on 25 September 2023 and will close on 27 September 2023.
JSW Infrastructure IPO lot size?
– The lot size for the JSW Infrastructure IPO is 126 equity shares.
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