JSW Infrastructure, the port division of the JSW Group under the leadership of Sajjan Jindal, is actively engaged in pursuing the acquisition of three ports with a total investment of Rs 2,000 crore. This strategic endeavor aligns with the government's privatization agenda and is expected to augment the company's capacity by an additional 10-12%.

Concurrently, JSW Infrastructure, India's second-largest commercial port operator in terms of cargo handling capacity, has introduced its Rs 2,800-crore initial public offering (IPO). The IPO is set to open on September 25 and conclude on Wednesday.

Arun Maheshwari, Joint Managing Director and CEO of JSW Infrastructure, expressed confidence in the company's financial outlook, stating, "Following this IPO, we will eliminate our net debt, securing ample room for growth and the flexibility to raise additional capital if necessary. Consequently, we have submitted bids for the privatization of three ports."

Maheshwari refrained from disclosing the specific names of these ports and terminals but highlighted various opportunities, including prospects in Haldia, Paradip, Visakhapatnam, Thoothukudi (formerly Tuticorin), Goa, Kandla, JNPT, and others.

As of the conclusion of FY23, JSW Infrastructure boasted a total cargo handling capacity of 158.4 million tonnes across nine ports and terminals situated along both the eastern and western coasts of India.

The IPO proceeds will serve diverse purposes, encompassing the repayment of a debt amounting to Rs 880 crore, investment in a significant LPG terminal project valued at Rs 865.75 crore, the establishment of an electric substation costing Rs 59.4 crore, the installation of a dredger (Rs 103.88 crore), and expansion activities at the Mangalore Container Terminal (Rs 151.04 crore). These funds will be instrumental in fueling the company's greenfield expansion initiatives and general corporate operations.

JSW Infrastructure anticipates raising Rs 1,260 crore from anchor investors on September 22. Subsequent to the IPO, JSW Infrastructure is set to become the third port company to be publicly listed in India, following Adani Ports and Special Economic Zone and Gujarat Pipavav Port.

Arun Maheshwari also shed light on the company's green projects, mentioning ongoing developments on the east coast (Utkal) and the successful completion of the bidding process for a project on the west coast (Keni in Karnataka), pending government clearances.

As of December 2022, the company reported a net debt of Rs 2,875 crore. The shares of JSW Infrastructure will be listed on both the BSE and NSE stock exchanges