JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, is planning to list the firm on Indian bourses by September-end after it received Sebi approval to raise `2,800-crore through an Initial Public Offering (IPO).
The initial stake sale, slated to open by the last week of this month, would be the first IPO from JSW Group in the past 13 years, which comes after the listing of JSW Energy in 2010.
An email sent to the JSW Group spokesperson went unanswered as of press time Wednesday.
The company would use close to Rs 900 crore from the proceeds for repayment of debt and a similar amount to set up a liquid petroleum gas (LPG) terminal at Jaigarh, Maharashtra. Further, it will use `150 crore to expand container terminal at NMPṬ and remaining for other expansion plans.