JSW Infrastructure Limited | Globe Capital Market LTD.
JSW Infrastructure Limited
Price Band
Sep 25, 2023 to Sep 27, 2023
IPO Issue Period
₹113 to ₹119 per share
Issue Size
₹2,800.00 Cr
Face value
₹2 per share
Fresh issue
₹2,800.00 Cr
Offer for sale
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
Oct 6, 2023

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Incorporated in 2006, JSW Infrastructure Limited provides maritime-related services including, cargo handling, storage solutions and logistics services. The company develop and operates ports and port terminals under Port Concessions.

JSW Infrastructure Limited is a part of the JSW Group. The company partners with JSW Group Customers (Related Parties) to pursue growth initiatives. JSW Infrastructure is the 2nd largest commercial port operator in the country in terms of cargo handling capacity in Fiscal 2022.

The company currently handle various types of cargo, including dry bulk, break bulk, liquid bulk, gases and containers. The company currently handling cargo also include thermal coal, coal (other than thermal coal), iron ore, sugar, urea, steel products, rock phosphate, molasses, gypsum, barites, laterites, edible oil, LNG, LPG, and containers.

JSW Infrastructure ports and port terminals typically have long concession periods ranging between 30 to 50 years, providing the company with long-term visibility of revenue streams.

The company has a presence across India with Non-Major Ports located in Maharashtra and port terminals located at Major Ports across the industrial regions of Goa and Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. JSW Infrastructure’s international presence includes 2 terminals at Fujairah and Dibba in the UAE.

JSW Infrastructure Limited operates nine Port Concessions in India with an installed cargo handling capacity of 158.43 MTPA as of June 30, 2023. The company’s installed cargo handling capacity in India has grown at a CAGR of 15.27% from March 31, 2021 to March 31, 2023.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 3,372.85 2,378.74 1,678.26
Profit After Tax 749.51 330.44 284.62
EPS 4.12 1.82 1.62
OPM (%) 24.04% 17.91% 23.39%
PATM (%) 22.22% 13.89% 17.01%


  • Fastest growing port-related infrastructure company and second largest commercial port operator in India.
  • Strategically located assets at close proximity to JSW Group Customers (Related Parties) and industrial clusters supported by a multi-modal evacuation infrastructure
  • Predictable revenues driven by long-term concessions, committed long-term cargo and stable tariff.
  • Diversified operations in terms of cargo profile, geography and assets.
  • Benefit from strong corporate lineage of the JSW Group and a qualified and experienced management team.
  • Strong financial metrics with a growing margin profile, return metrics and growth
  • Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in the wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.
  • Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Jaigarh Port Limited, for proposed expansion/upgradation works at Jaigarh Port i.e., i) expansion of LPG terminal (“LPG Terminal Project”); ii) setting up an electric sub-station; and iii) purchase and installation of dredger.
  • Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal (“Mangalore Container Project”).
  • General corporate purposes

At the upper band of Rs. 119, the issue valued at 28 times. Hence, investors may park moderate funds for long-term rewards.

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