• FMR, Capital Group and BlackRock lead the QIP alongside Indian HDFC Mutual Fund and SBI Mutual Fund
  • QIP oversubscribed 6.7 times with bids worth ₹50,530 crore

National : JSW Infrastructure Limited (the “Company”) successfully completed a landmark ₹7,503 crore Qualified Institutions Placement (“QIP”), marking the first transaction in India to combine a primary issuance and an offer for sale by a promoter selling shareholder within a single QIP structure. The QIP comprised a primary issuance of ₹6,555 crore by the Company, with the balance being raised through an offer for sale by the promoter selling shareholder. The transaction enabled the Company to raise growth capital to support its ₹39,000 crore multi-year capital expenditure programme, facilitate compliance with minimum public shareholding requirements and significantly broaden its institutional shareholder base through the induction of several marquee global and domestic investors. The QIP offering is among the largest QIP issuances undertaken in India’s industrial and infrastructure sector in recent years.

The QIP garnered ~6.7x demand, attracting bids of around ₹50,530 crore from a diversified investor base comprising domestic mutual funds, insurance companies, and foreign institutional investors primarily long-only and pension funds. Participation from marquee global investors such as FMR, Capital Group and BlackRock, among others and blue-chip domestic mutual funds including HDFC Mutual Fund and SBI Mutual Fund, among many others, reflects strong conviction in the Company’s growth strategy and long-term prospects.

JM Financial Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, SBI Capital Markets Limited and Jefferies India Private Limited were the Book Running Lead Managers to the QIP.

Khaitan & Co. was the Legal Counsel to the Company and the Selling Shareholder, while Trilegal and Linklaters Singapore Pte. Ltd. were the Legal Counsels to the Book Running Lead Managers.

Mr. Rinkesh Roy, Joint Managing Director & CEO, said: “The successful completion of this QIP reflects strong investor confidence in India’s structural growth story and in our resilient business model. The quality of participation from global and domestic institutional investors underscores belief in our robust growth pipeline in ports and the ongoing build-out of our logistics platform. With this capital, we are well-positioned to pursue our growth trajectory, including expansion of port capacities to 400 MTPA by FY2030, strengthening of our logistics network, and pursuing selective strategic opportunities, while reinforcing our position as a leading ports and logistics solutions company supporting India’s trade growth.”

Mr. Nagarajan J, Chief Financial Officer, said: “The strong institutional participation in this QIP is a testament to investors’ confidence in our growth strategy, execution track record and long-term prospects. The capital raised positions us well to fund our growth projects while maintaining financial strength. We are particularly pleased to welcome several leading domestic and global institutional investors to our shareholder base, which is expected to enhance and strengthen the depth and diversity of our investor base.”