JSW Infrastructure Ltd, the ports business of the group, has filed draft papers to raise up to ₹2,800 crore in an initial public offering (IPO), a person aware of the matter said.
The company will use the capital to retire debt and fund capacity expansion projects, the person cited above said on condition of anonymity, adding promoters will not sell their shares. As of 31 December 2022, JSW Infrastructure had a net debt of ₹2,875 crore. JM Financial is the lead banker for the issue.
This will be the third public listing from the JSW Group, 13 years after JSW Energy Ltd went public in January 2010. The Sajjan Jindal-led JSW Group also operates cement, paints, venture capital and sports businesses.
A spokesperson for the JSW Group declined to comment on the matter.
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