Mumbai based JSW Infrastructure Ltd., is
planning an initial public offering by March 2024. The business is part of
tycoon Sajjan Jindal’s steel-to-cement conglomerate. The company which operates
seaports and terminals, will soon start the process of engaging investment
bankers and professional agencies to facilitate the listing, Joint Managing
Director ArunMaheshwari said.
The firm will take
a “balanced view” on geopolitical risks
The firm will take a “balanced view” on
geopolitical risks and inflationary pressures among other factors while
deciding on the timing for the listing, he said. He didn’t provide additional
details on the possible size of the stake sale or the amount of funds it would
seek to raise. Globally, there has been a slowdown in fund-raising as Russia’s
war in Ukraine and rising interest rates boost volatility, sapping investor
appetite for equities.
aims to handle up to 100 million tons of cargo in the financial year that
started April 1
JSW Infrastructure aims to handle up to
100 million tons of cargo in the financial year that started April 1 and plans
to focus on diversifying more into the container business, Maheshwari said. JSW
Infrastructure does not have high leverage ratios and that bolsters its
acquisition plans, he said.
“We will certainly be looking at
acquisitions provided it matches our criteria of sustainability, cargo
diversification and geographical diversification,” Maheshwari said.
Sustainability will be the primary requirement for the company’s acquisition
choices, he added.
Earlier this year, JSW Infrastructure
raised $400 million via sustainability-linked bonds to repay loans and for