Sajjan Jindal-owned JSW Infrastructure Ltd, the subsidiary responsible for managing the ports business of the illustrious JSW Group, is poised to make a comeback to the IPO market.

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Sources close to CNBC-TV18 have revealed that JSW Infra is gearing up to launch its initial public offering (IPO) by the end of September, marking its first public listing in over a decade.

The forthcoming IPO is expected to be a fresh issue, with JSW Infra aiming to raise approximately Rs 2,900 crore. Approximately Rs 9,00 crore of the IPO proceeds will be dedicated to debt repayment, sources in the know told CNBC-TV18. As of March 31, 2023, JSW Infrastructure reported a net debt of Rs 2,215 crore.

According to multiple people familiar with the development, JSW Infra has also earmarked Rs 900 crore from the IPO proceeds for the development of a Liquid Petroleum Gas (LPG) terminal at Jaigarh Port.

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Furthermore, approximately Rs 250 crore of the IPO funds will be directed towards the expansion of JSW's container terminal at New Mangalore Port Trust (NMPT), sources close to the development said.

JSW Infra is set to allocate approximately Rs 750 crore from the IPO proceeds towards other expansion projects. The IPO of JSW Infra is a milestone for the JSW Group, as it is the third company from the conglomerate to be listed on the stock exchange.