JSW Infrastructure Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report details the utilization of proceeds from its Initial Public Offer (IPO), which raised ₹2,800 crore. As of the end of the quarter, the company has utilized ₹2,056.33 crore, with ₹669.80 crore remaining as unutilized funds. While the company reports progress on capital expenditure projects, some delays have been noted.
IPO Proceeds Utilization Overview
As of March 31, 2026, JSW Infrastructure Limited has successfully deployed a significant portion of its IPO proceeds. The total funds utilized stand at ₹2,056.33 crore. The primary objects of the issue included debt repayment, capital expenditure for expansion works at Jaigarh Port and Mangalore Container Terminal, and general corporate purposes.
Progress on Key Capital Projects
The company continues to advance its infrastructure development plans, though some projects have experienced scheduling delays. Specifically, for the LPG Terminal Project and the electric sub-station at Jaigarh Port, expenditure reached ₹266.83 crore and ₹57.55 crore respectively by the end of the quarter. Additionally, investment in the Mangalore Container Terminal expansion reached ₹82.02 crore. The monitoring agency has noted that while work is ongoing, the exact timeline for completion for these specific projects is currently not ascertainable.
Deployment of Unutilized Funds
The remaining unutilized balance of ₹669.80 crore is being managed through short-term investment instruments. These funds are held in various Fixed Deposits across Axis Bank, IndusInd Bank, and Yes Bank. These investments earn returns ranging from 4.80% to 7.90% and are scheduled to mature in early April and May 2026, ensuring liquidity while maintaining capital security until deployment.
General Corporate Purposes
The company has fully utilized the ₹666.05 crore allocated for general corporate purposes. This includes the acquisition of Marine Oil Terminal Corp through both Inter-Corporate Deposits (ICD) and equity investments, as well as the acquisition of shares in PNP Maritime Services Private Limited.
Source: BSE
