Shares of JSW Infrastructure, the ports business of the JSW Group and the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023 Limited hit the upper circuit of 10% on debut.
The scrip listed Rs 143 per share on BSE and NSE, at a premium of 20.17%. The company's share price closed at Rs 157.30 per share on the BSE and NSE, a 32.18% premium.
As per NSE, the total quantity traded stood at 1221.17 lakh shares, on BSE the total Quantity stood at 57.99 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,849.28 crore.
The Market Capitalization of the Company at today’s closing price stood at Rs. 33,033.02 Crore as per BSE and NSE.
JSW Infrastructure is a Port company which started with JSW Group as anchor customer and has since grown significantly as an independent Port operator servicing a wide range of customers across Bulk cargo, LPG, Container, Sugar and other commodities. It emerged as the fastest growing port-related infrastructure company in terms of both installed cargo handling capacity and cargo volumes handled during since FY21. This is the third IPO by the JSW Group (after Steel & Energy businesses) and follows 13 years after the public listing of JSW Energy in January 2010. The entire IPO consist of fresh issue of equity shares.
As on March 31, 2023, JSW Infrastructure’s installed cargo handling capacity of 158.43 million tonnes per annum. The company provides maritime related services including, cargo handling, storage solutions, logistics services and other value-added services to the customers.
JSW Infrastructure’s port business operations expanded from one Port Concession at Mormugao, Goa (acquired by the JSW Group in 2002) where it commenced operations in 2004, to nine Port Concessions as of June 30, 2023 across the Western & Eastern coast of India, making it a well-diversified maritime ports company. It also operates two port terminals under Operations & Management agreements in Fujairah Terminal and Dibba Port in the UAE with cumulative cargo handling capacity of 41 mmtpa.
The company plans to further expand its Ports asset portfolio and grow its operations through low cost brownfield expansions as well as develop greenfield Ports at strategic locations. It will also consider inorganic opportunities to acquire assets which can strategically strengthen its presence in handling container and liquid cargo. The new capacity building is aimed at diversifying the Company’s cargo portfolio beyond Bulk cargo such as Gas, Liquid, Container etc with a strong focus on growing its third-party customer base.