homebusiness Newscompanies NewsJSW's Sajjan Jindal says IPO on the cards for infra and cement businesses, maybe in next 2 years
JSW's Sajjan Jindal says IPO on the cards for infra and cement businesses, maybe in next 2 years
'JSW Cement is a green cement.. so it is a very natural fit and it is kind of doing very well,' Sajjan Jindal, Chairman, and MD, said while speaking exclusively to CNBC-TV18 from the sidelines of EY's WEOY in Monte Carlo, where he is representing India among 49 global business leaders.
Sajjan Jindal-led conglomerate JSW Group on Wednesday, June 7, said the company is looking at an IPO (initial public offering) for both JSW Infrastructure and JSW Cement units over the next two years if the environment is good.
Speaking exclusively to CNBC-TV18 from the sidelines of EY's WEOY in Monte Carlo, where he is representing India among 49 other leaders from across the world and sectors, Sajjan Jindal, Chairman, and MD, said, "JSW Cement is a green cement, it uses a lot of slag from the steel plants and fly ash from our power plants. So it is a very natural fit and it is kind of doing very well."
Already, JSW Infrastructure has filed preliminary papers with capital markets regulator SEBI to raise up to Rs 2,800 crore through an IPO to retire debt and support its expansion plans.
JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo, including dry bulk, break bulk, liquid bulk, gases, and containers. As of December 31, 2022, JSW Infrastructure had net debt of Rs 2,875 crore.
The port business operations have expanded from one port concession at Mormugao in Goa, which was acquired by the JSW Group in 2002 and commenced operations in 2004, to nine port concessions as of December 31, 2022, across India.
Coming to the cement business, the company in 2022 said it will set up an integrated greenfield cement manufacturing facility in Madhya Pradesh as well as a split grinding unit in Uttar Pradesh with an investment of Rs 3,200 crore.
The proposed investment will be for an integrated cement plant with 2.5 MTPA clinker capacity, 2.5 MTPA grinding capacity, 15 MW waste heat recovery system, a modern residential colony in Madhya Pradesh, and a 2.5 MTPA grinding unit in Uttar Pradesh.
Currently, JSW Cement has a capacity of 17 MTPA across manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha, Dolvi in Maharashtra and Fujairah in UAE, among others.
(Edited by : Shoma Bhattacharjee)
First Published: Jun 7, 2023 7:32 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election: Re-elections at a Ajmer booth after presiding officer misplaces register of voters
May 2, 2024 4:54 PM
Rahul will be forced to take out 'Congress Dhoondho Yatra' after June 4: Amit Shah in Bareilly
May 2, 2024 4:36 PM