About Company

• JSW Infrastructure Limited (“JSW Infra”) was incorporated on April 21, 2006. JSW Infra is the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during Fiscal 2021 to Fiscal 2023, and the 2nd largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023.  
• Their operations have expanded from one Port Concession at Mormugao, Goa to 9 Port Concessions as of June 30, 2023 across India, making them a diversified maritime ports company. 
• Their installed cargo handling capacity in India grew at a CAGR of 15.27% from 119.23 MTPA as of March 31, 2021 to 158.43 MTPA as of March 31, 2023. During the same period, their cargo volumes handled in India grew at a CAGR of 42.76% from 45.55 MMT to 92.83 MMT. 
• The installed cargo handling capacity in India grew from 153.43 MTPA as of June 30, 2022 to 158.43 MTPA as of June 30, 2023, and the volume of cargo handled by them in India grew from 23.33 MMT for the 3 month period ended June 30, 2022 to 25.42 MMT for the 3 month period ended June 30, 2023. 
• The company also operates 2 port terminals under O&M agreements for a cargo handling capability of 41 MTPA in the UAE as of June 30, 2023. 
• JSW Infra provides maritime related services including, cargo handling, storage solutions, logistics services and other value-added services to their customers, and is evolving into an end-to-end logistics solutions provider. They develop and operate ports and port terminals pursuant to Port Concessions. Their ports and port terminals typically have long concession periods ranging between 30 to 50 years.  
• JSW Infra have shown consistent financial performance over the last 3 Fiscals, with their revenue from operations, EBITDA and profit after tax having grown at a CAGR of 41.15%, 42.06% and 62.28%, respectively, from Fiscal 2021 to Fiscal 2023.  
• Their JSW Group Customers (Related Parties) are in the process of achieving expanded installed capacities at their facilities in India with JSW Steel aiming to achieve up to 37 MTPA in Fiscal 2025 from 27.7 MTPA in Fiscal 2023, and JSW Energy aiming to achieve up to 10 GW in Fiscal 2025 from 4.8 GW in Fiscal 2023. 

Strengths

Competitive Strength 

• Fastest growing port-related infrastructure company and second largest commercial port operator in India;
• Strategically located assets at close proximity to JSW Group Customers (Related Parties) and industrial clusters supported by a multi-modal evacuation infrastructure;
• Predictable revenues driven by long-term concessions, committed long-term cargo and stable tariffs;
• Diversified operations in terms of cargo profile, geography, and assets;
• Demonstrated project development, execution and operational capabilities;
• Benefit from strong corporate lineage of the JSW Group and a qualified and experienced management team;
• Strong financial metrics with a growing margin profile, return metrics and growth.

Business Strategies 

• Continue to pursue greenfield and brownfield expansions with a focus on Non-Major Ports;
• Pursue acquisition opportunities in similar businesses;
• Pursue opportunities in synergistic businesses to increase revenue diversification;
• Increasing the third-party customer base;
• Diversification of cargo mix;
• Focus on building environment friendly and sustainable operations along with growth.

Company Promoters

Company Financials

Amount in ? Crore

Objects of the Issue

Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in the wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited.

2. Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Jaigarh Port Limited, for proposed expansion/upgradation works at Jaigarh Port i.e., i) expansion of LPG terminal ("LPG Terminal Project"); ii) setting up an electric sub-station; and iii) purchase and installation of dredger.

3. Financing capital expenditure requirements through investment in the wholly owned subsidiary, JSW Mangalore Container Terminal Private Limited, for the proposed expansion at Mangalore Container Terminal ("Mangalore Container Project").

4. General corporate purposes.