JSW Infrastructure Ltd IPO

The company relies on concession and license agreements from government and quasi-governmental organizations to operate and grow its business. The company have several obligations under these agreements and a breach of the terms could lead to termination, which could materially adversely affect its business, results of operations, financial condition and cash flows.

A substantial portion of the volume of cargo handled by the company is dependent on a few types of cargo and a significant reduction in, or the elimination of such cargo could adversely affect its profitability.

The Company and certain of its Subsidiaries have incurred losses in the past.

The environmental clearance for capacity enhancement issued to its Subsidiary, South West Port Limited has been challenged before the National Green Tribunal and is subject to the outcome of certain other litigations. Any adverse outcome in these litigations may have an adverse effect on its business, financial condition, results of operations and cash flows.

Adverse change in credit ratings assigned to it may affect the company ability to raise funds for future capital requirements.

The company have entered into and may continue to enter into a substantial amount of related party transactions with entities in the JSW Group.

The company operates in a capital-intensive industry and its current and future expansion plans may require significant capital that we may be unable to raise. Furthermore, its investments in developing additional services and facilities for its port business may not be successful.

The company have substantial indebtedness which requires significant cash flows to service, and limits its ability to operate freely. Any breach of terms under the company financing arrangements or our inability to meet its obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business and financial condition.

The company do not own the JSW trademark, and its ability to use the trademark, name and logo may be impaired. Any reputational damage to this trademark or the JSW Group, name or logo could have an adverse effect on its financial condition, cash flows and results of operations.

The company is yet to place orders for certain equipment and certain civil works for expansion of projects proposed to be funded through this Issue. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment or services in a timely manner, or at all, it may result in time and cost over-runs and its business, prospects and results of operations may be adversely affected.