JSW Infrastructure launches Rs 7,500 crore QIP, to fund capex, repay debt

JSW Infrastructure has launched a Rs 7,500 crore qualified institutional placement (QIP) at an indicative issue price of Rs 285 per share, a 7.2% discount to its Monday closing of Rs 307.05. The fresh issue will dilute about 9.9% of post-issue equity, with proceeds earmarked for capital expenditure through subsidiaries, debt repayment, strategic investments and acquisitions. The issue is expected to close this week, with pricing around June 25 and trading in newly allotted shares beginning around July 1.