JSW Infra's Joint MD & CEO, Arun Maheshwari On IPO, Funds Utilisation, Rising Debt, And PAT

JSW Infrastructure, a company owned by Sajjan Jindal, has initiated its public issue on September 25, with the offering set to conclude on September 27. Impressively, on the first day, it achieved a subscription rate of 40%, earning a favorable buy rating from analysts. The company aims to raise Rs 2,800 crore through the public issue. Notably, the IPO solely comprises a fresh issue by the company and does not include an offer-for-sale component. The raised capital will be allocated towards debt repayment, which amounts to Rs 880 crore, and for expansion and upgrades at JSW Jaigarh Port. As of June 2023, the company carried a consolidated debt of Rs 4,228.39 crore. Joint MD & CEO, Arun Maheshwari, joined BTTV's stock market show Market Today, where he delved into details about the IPO and the company's financial prospects.