ANI
26 Sep 2023, 15:25 GMT+10
New Delhi [India], September 26 (ANI): Shares of JSW Infrastructure that were up as part of its initial public offering are being fully subscribed on Day 2. Data shows the Sajjan Jindal-owned company's public issue has so far been subscribed 2.13 times.
Twenty-four companies have so far listed on Indian exchanges in 2023 and most of them have delivered firm returns to the respective investors.
JSW Infrastructure, a JSW Group company, launched its initial public offering on Monday and it will be up for subscription till Wednesday. This is reportedly the first public issue from the group after 13 long years.
The price band for the IPO has been set at Rs 113-119 per share.
The company aims to raise about Rs 2,800 crore from its IPO, and all of it will be a fresh issue and not an offer-for-sale.
As per reports, the proceeds from the IPO will be used to repay debts amounting to Rs 880 crore, and Rs 1,029.04 crore will be spent on expansion or upgrade works at Jaigarh Port, owned by subsidiary JSW Jaigarh Port. The company had a total consolidated debt at Rs 4,228.39 crore as of June 2023.
JSW Infrastructure was the 2nd largest commercial port operator in the country in terms of cargo handling capacity in fiscal 2022. Its international presence includes 2 terminals at Fujairah and Dibba in the UAE.
It provides maritime-related services including, cargo handling, storage solutions, logistics services and other value-added services to customers. (ANI)Get a daily dose of Malaysia Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Malaysia Sun.
More InformationLondon [UK], July 12 (ANI): Shubman Gill, who has developed an appetite for breaking milestones, continued with the trend and added...
Dhaka [Bangladesh], July 11 (ANI): Bangladesh has agreed to work with Malaysia to investigate allegations of terror activity against...
New Delhi [India], July 11 (ANI): The National Investigation Agency (NIA) on Friday chargesheeted five accused in a Mizoram case related...
Kuala Lumpur [Malaysia], July 11 (ANI): Minister of State for External Affairs, MoS Pabitra Margherita, held interactions with the...
London [UK], July 11 (ANI): UK Member of Parliament Bob Blackman has raised serious concerns over the rising threats faced by Hindu,...
London [UK], July 11 (ANI): England's talismanic batter Joe Root shattered the 'Wall' Rahul Dravid's record for most outfield catches...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...