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Time of India
16-05-2025
- Business
- Time of India
JSW Infrastructure promoter entity pares 2% stake for Rs 1,210 crore
New Delhi, Sajjan Jindal Family Trust , one of the promoters of JSW Infrastructure , on Friday divested a 2 per cent stake in the company for Rs 1,210 crore through an open market transaction. The latest transaction came as the promoter entity has to comply with market regulator Sebi's minimum public shareholding (MPS) norms. According to the bulk deal data available on the National Stock Exchange (NSE), Sajjan Jindal Family Trust (through its trustees Sajjan Jindal and Sangita Jindal) sold 4.2 crore shares, amounting to a 2 per cent stake in Mumbai-based JSW Infrastructure . Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo The shares were offloaded at an average price of Rs 288.21 apiece, taking the transaction value to Rs 1,210.48 crore. After the latest transaction, Sajjan Jindal Family Trust's holding in JSW Infra has declined to 78.72 per cent from 80.72 per cent. Also, the promoter and promoter group entities' stake has reduced to 83.62 per cent from 85.62 per cent in the company. Meanwhile, the Singapore government picked up an additional 1.84 crore shares or 0.9 per cent stake in JSW Infrastructure for Rs 531 crore. Live Events The shares were picked up at an average price of Rs 288.10 per piece, taking the deal value to Rs 531.47 crore. Details of the other buyers of JSW Infrastructure's shares could not be identified on the NSE. On Friday, shares of JSW Infrastructure slipped 2.93 per cent to close at Rs 288.35 apiece on the NSE. In a filing on May 9, Sajjan Jindal Family Trust said, "We intend to sell up to a maximum of 2 per cent of the total paid up equity share capital of the company, aggregating to 4.2 crore equity shares, in a single or multiple tranches, over a period beginning from May 13, 2025, or onwards till March 31, 2026, subject to any other permissible methods of meeting minimum public shareholding in terms of the applicable law". JSW Infrastructure, which made its stock market debut on October 3, 2023, has witnessed an 18 per cent increase in its share price over the past year. As per Sebi's norms, all listed companies are mandated to maintain a minimum public shareholding of 25 per cent within a stipulated time frame following their listing. Newly listed firms are typically granted a three-year window to meet this requirement. JSW Infrastructure is part of the Sajjan Jindal led-JSW Group and is the second largest private commercial port operator in India with a capacity of 177 million tonnes per annum (mtpa).
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Business Standard
16-05-2025
- Business
- Business Standard
Jindal family sells stake worth ₹1.2K crore to fund AkzoNobel India buy
The Sajjan Jindal Family Trust has offloaded 2 per cent in JSW Infrastructure Ltd — India's second-largest commercial port operator — in a ₹1,210 crore transaction to multiple institutional investors, including the Singapore government, in a bid to fund the potential acquisition of AkzoNobel India. The trust has offloaded 0.88 per cent stake in JSW Infra to the Government of Singapore for ₹531 crore via block deals on Thursday. According to data from the National Stock Exchange (NSE), Singapore's sovereign arm purchased around 18.4 million shares at ₹288 apiece from the promoter group. The share sale is aimed at complying with India's minimum public shareholding norms by the promoters. It is also for potentially financing JSW Group's planned acquisition of AkzoNobel India from its Dutch promoter, people familiar with the matter said. This acquisition of Akzo Nobel India will mark JSW's latest strategic push into the consumer-facing paints segment, where it is aiming to build scale in a market witnessing heightened competition. The acquisition of AkzoNobel India will give JSW access to a robust nationwide distribution network and the well-recognised Dulux brand, bolstering its presence in a sector recently disrupted by the entry of the Aditya Birla Group. Parth Jindal, scion of the Jindal family, is leading the talks with Akzo Nobel NV and an announcement is expected soon, say bankers. AkzoNobel NV holds a 75 per cent stake in its Indian subsidiary. JSW Infrastructure shares closed at ₹288.25 on the BSE on May 16, valuing the company at about ₹60,533 crore. Akzo Nobel India closed 3.3 per cent up at ₹3,597 a share. The Sajjan Jindal Family Trust held an 80.72 per cent stake in JSW Infrastructure as of March 31, while total promoter shareholding stood at 85.62 per cent. Under the Securities and Exchange Board of India (Sebi) regulations, listed companies must maintain at least 25 per cent public float. JSW Infra, which went public in October 2023, has until September 2026 to bring promoter holdings below the 75 per cent threshold. In a recent filing, JSW Infra said the promoter group, represented by Sajjan Jindal and Sangita Jindal, plans to sell up to 2 per cent of its stake through open market transactions between May 13, 2025, and March 31, 2026.
