JSW Infrastructure Limited announced today, Wednesday, that it has set the price band for its initial public offering (IPO) of equity shares at Rs 113 to Rs 119 per share. The company, which is part of the JSW Group, revealed that the IPO will open for subscription on Monday, September 25, 2023, and close on Wednesday, September 27, 2023.

The IPO consists entirely of a fresh issue of equity shares worth Rs 2,800 crore ($376 million). Investors can bid for a minimum of 126 equity shares and in multiples of 126 thereafter. The company plans to use the proceeds from the IPO to pay down Rs 880 crore ($118 million) of its outstanding borrowings and finance various capital expenditure requirements