/CDIA IPO: How PT Chandra Daya Investasi Plans to Grow in Infrastructure Sector
Economy CDIAJune 19, 2025

CDIA IPO: How PT Chandra Daya Investasi Plans to Grow in Infrastructure Sector

PT Chandra Daya Investasi (CDIA), a subsidiary of TPIA, is gearing up for its Initial Public Offering (IPO) to raise approximately 2.1 to 2.4 trillion IDR by offering up to 12.5 billion new shares at a price range of 170–190 IDR per share. This move aims to boost the company’s funding capacity and expand its influence in Indonesia’s infrastructure landscape.

Who is CDIA?

CDIA functions as a holding company focused on infrastructure across energy, water, ports, storage, and logistics sectors. Integrated within the TPIA conglomerate, its assets showcase a diverse portfolio, including:

  • Gas-fired power plants: 120 MW and 200 MW capacity through joint ventures with PT Krakatau Posco, where KCE owns 45%
  • Water treatment facilities: Krenceng Water Treatment Plant with an capacity of 1,800 liters per second
  • Storage tanks: 72 tanks totaling 130,000 cubic meters
  • Marine vessels: 7 ships capable of transporting chemicals and gases, with DWT ranging from 5,000 to 8,600

Shareholder Structure & Valuation

Post-IPO, the shareholders will be diluted to include TPIA (60%), Thailand’s Phoenix Power/EGCO Group (30%), and public investors (10%). Based on financial projections, CDIA is expected to be valued at around 42.5–47.5 times P/E 2024 and a Price-to-Book Value (PBV) of 1.7–1.8x.

Financial Performance Highlights

In 2024, CDIA reported revenues of 102.3 million USD and a net profit of 30.6 million USD. This marks a significant improvement compared to figures from the previous year, which saw revenues of 75.8 million USD and a net profit of 0.18 million USD during the period from February 8 to December 31, 2023.

Intended Use of IPO Funds

  • 37% for capital injections into logistics subsidiaries (PT Chandra Shipping International and PT Marina Indah Maritim) to finance vessel purchases and operational costs
  • 63% for capital contributions to port and storage entities (PT Chandra Cilegon Port) to develop storage tanks, ethylene pipelines, and other supporting facilities

Conclusion

The IPO marks a pivotal step for CDIA, positioning it as a stronger player in Indonesia’s infrastructure growth. With strategic assets and a clear expansion plan, CDIA aims to leverage the funds to enhance operational capacity and market presence in key sectors such as power, water, and logistics.

For more insights on Indonesian IPOs, visit Indonesia Stock Exchange.

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