JSW Infra plans to buy 3 ports for Rs 2,000 crore

JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, has placed bids worth Rs 2,000 crore to acquire three ports under the government’s privatisation move. These ports would add another 10-12% to the company’s capacity, said reports. Separately, the country’s second-largest commercial port operator by cargo handling capacity, had set a price band of Rs 113-119 per share for its Rs 2,800-crore initial public offering (IPO). “Post this IPO, we will be net-debt free, we will have enough headroom to grow and if required we can raise additional capital also. So, we have placed bids for three ports that are coming up for privatisation,” Arun Maheshwari, joint MD & CEO, JSW Infrastructure, said in a statement.