Shares of JSW Infrastructure climbed as much as 31.4% in their first day of trading, valuing the company at 330.33 billion rupees ($3.97 billion).
Speaking at the listing event, Jindal cited the example of Singapore and said that it is a City-State and handles more cargo than all of India. “We can also create such ports which handle not just our own cargo but also of the countries around us,” he said.
“We cannot think only India centric, we have to think global and we have to really build ourselves as a global company. So we have to really think at those levels,” he said.
Jindal further said that India has a large coastline and logistics cost in the country is among the highest in the world. “The cost of transporting goods in India is the highest, So JSW Infra has a huge potential to grow its business to create what the government has created, CONCOR,” Jindal said.
JSW Infrastructure, which became the third public entity within the JSW group after JSW Steel and JSW Energy, is not the last IPO, he said.
“We have many companies coming up (like) JSW Cement, JSW Paints, JSW One, and hopefully there will be more companies which will get listed in the years to come,” Jindal said.
