Wholly owned by the Chennai Port Authority, Kamarajar Port is structured as a corporate company rather than a statutory authority, making its listing structurally feasible. The enterprise initially focused on supplying thermal coal but has since expanded its operations into containers, petroleum products, and automobiles. This diversification helped net profit cross ₹596 crore on ₹1,239 crore in revenue during fiscal year 2026. The incoming lead managers will help evaluate a prospective fresh issue alongside the secondary share sale.
Key points
Successful completion of the share sale will establish the entity as the nation's first l…: Successful completion of the share sale will establish the entity as the nation's first listed state-backed port.
Operational revenue and profitability continue to benefit from diversified freight stream…: Operational revenue and profitability continue to benefit from diversified freight streams, even as coal maintains its dominant cargo share.
Terminal developments utilizing private operators under build-operate-transfer agreements…: Terminal developments utilizing private operators under build-operate-transfer agreements continue to anchor the landlord port framework.
Sources checked by our analysis pipeline: 1
Chennai-based Kamarajar Port Ltd has picked three investment banks for an initial public offering (IPO) that would make it India's first listed state-backed port.
The country's first corporate major port has hired SBI Capital Markets Ltd, IDBI Capital Markets & Securities Ltd, and ICICI Securities Ltd as the book-running lead managers for the offer, two people aware of the development told Mint.
The IPO is likely to include an offer for sale of about ₹1,200 crore, while a fresh issue could be decided at a later stage, a document issued by the port earlier in September showed.
Valuation discussions are still some time away, but the IPO is likely to be completed within calendar 2027, Mint has learnt.
Emails sent to Kamarajar Port, SBI Capital, IDBI Capital and ICICI Securities on 14 November did not elicit responses until press time.
Mint had reported on 13 September that the Chennai Port Authority, which wholly owns Kamarajar Port, had begun the process of seeking up to three bookrunning lead managers to structure and manage the issue.
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