Kamarajar Port Hires SBI Capital, IDBI Capital and ICICI Securities for 2027 IPO

Kamarajar Port Ltd has hired SBI Capital Markets Ltd, IDBI Capital Markets & Securities Ltd and ICICI Securities Ltd as book-running lead managers for an initial public offering likely to include an offer for sale of about ₹1,200 crore. Mint reported the appointments, citing two people aware of the development.

Kamarajar Port's Three Book-Running Lead Managers

The Chennai-based port is India's first corporate major port, and a listing would make it the country's first listed state-backed port. A document the port issued earlier in September showed the offer for sale of about ₹1,200 crore, while a fresh issue could be decided at a later stage. Mint reported on 13 September that Chennai Port Authority, which wholly owns Kamarajar Port, had begun seeking up to three book-running lead managers to structure and manage the issue.

Valuation discussions are still some time away, and the IPO is likely to be completed within calendar 2027. Emails sent to Kamarajar Port, SBI Capital, IDBI Capital and ICICI Securities on 14 November did not elicit responses until press time. IDBI Capital was named by NDTV Profit on 2 November as reiterating Buy ratings on Navin Fluorine, GE Vernova, Ador Welding and Acutaas after reviewing Q2 FY27 results.

Kamarajar Port's Cargo and Revenue Record

Kamarajar Port handled 49.08 million tonnes of cargo in fiscal 2026, according to akta.pro company records, up from 30.02 million tonnes in fiscal 2017. The same records put the port's handling capacity at 58.44 MMTPA, up from an initial 12 MMTPA, with a long-term plan projecting 254.52 MTPA by 2047 under its Comprehensive Master Plan 2047.

Mint reported that net revenue rose 9% to ₹1,239 crore in fiscal 2026 from ₹1,138 crore a year earlier, while net profit increased more than 10% to ₹596 crore from ₹539 crore. The port handled a record 1,008 vessels in the year and paid an interim dividend of ₹3 per share, recommending a final dividend of ₹7 per share.

Blue Lagoon and Mahanadi Coalfields Listings

Blue Lagoon Corp. completed a Nasdaq Iceland IPO raising about $115 million from 150 million shares at $0.84 each, Dealroom.co reported on 14 November. ET NOW reported the same day that Mahanadi Coalfields' ₹10,000 crore offer for sale was the largest of three IPOs opening the following week.

Coal India's Red Herring Prospectus for Mahanadi Coalfields

ScanX reported on 14 November that Coal India filed the Red Herring Prospectus for Mahanadi Coalfields' IPO on 13 November, with the RHP submitted to SEBI and stock exchanges on 14 November. The offer involves an offer for sale of 661,836,300 equity shares by Coal India, subject to regulatory approvals and market conditions.