After JSW Infra, Sajjan Jindal aims to list another 2-3 group companies
ETMarkets.com
Synopsis
This comes after JSW Infrastructure's listing on the exchanges earlier today, which is a first from the group in nearly 13 years since JSW Energy debuted in 2010.
JSW Group boss Sajjan Jindal on Tuesday said that they are looking to list two-to-three companies from the conglomerate sooner than expected.
"We have two or three companies in the pipeline, which are in the incubation stage at the moment, like JSW Cement and JSW Paints. The next listings would be much faster, because the country is also growing at a rapid pace. The next IPOs will be sooner than JSW Infra," Jindal told ET Now.
JSW Infra fetched a healthy premium of 20% on listing at Rs 143, compared with an issue price of Rs 119.
Commenting on the future plans for JSW Infra, Jindal said the listing is just a beginning for the company and they can be ambitious in their planning with greater shareholders participation.
"Infrastructure is the need of the hour for this country to become a developed economy and that is where JSW infrastructure will play its role," Jindal said.
The company proposes to utilise the net proceeds from the IPO towards repayment of debt, financing capital expenditure, and other general corporate purposes.
JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23.
For the three months ended June 2023, the company's revenue from operations jumped 7% year-on-year to Rs 878 crore, while net profit grew 68% to Rs 322 crore.
Its installed cargo handling capacity in India grew at a CAGR of 15.27% from FY21-23. During the same period, the cargo volumes handled in India jumped at a CAGR of 42.76%.
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This comes after JSW Infrastructure's listing on the exchanges earlier today, which is a first from the group in nearly 13 years since JSW Energy debuted in 2010."We have two or three companies in the pipeline, which are in the incubation stage at the moment, like JSW Cement and JSW Paints. The next listings would be much faster, because the country is also growing at a rapid pace. The next IPOs will be sooner than JSW Infra," Jindal told ET Now.
JSW Infra fetched a healthy premium of 20% on listing at Rs 143, compared with an issue price of Rs 119.
Commenting on the future plans for JSW Infra, Jindal said the listing is just a beginning for the company and they can be ambitious in their planning with greater shareholders participation.
"Infrastructure is the need of the hour for this country to become a developed economy and that is where JSW infrastructure will play its role," Jindal said.
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The company proposes to utilise the net proceeds from the IPO towards repayment of debt, financing capital expenditure, and other general corporate purposes.
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JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23.
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For the three months ended June 2023, the company's revenue from operations jumped 7% year-on-year to Rs 878 crore, while net profit grew 68% to Rs 322 crore.
Its installed cargo handling capacity in India grew at a CAGR of 15.27% from FY21-23. During the same period, the cargo volumes handled in India jumped at a CAGR of 42.76%.
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