JSW Infrastructure shares surge on fund raise talk, management says no discussion underway

Shares of leading infrastructure player JSW Infra are higher by 5 percent in mid-day trade, after CNBC-TV18 reported on September 11, citing unnamed sources, that the company is considering a significant fund-raise of over Rs 5,000 crore, likely via the QIP route.

The channel reached out to JSW Infrastructure and the company reverted with 'no comments'. Later in the day, JSW Infrastructure issued a statement to the stock exchanges, saying the company is 'currently not in any discussion' in this regard. "No such proposal has been placed for discussion before the Board", the exchange filing added.

The CNBC-TV18 report also said that the QIP may be undertaken to meet capex requirements as well as to adhere to market regulator's minimum public shareholding norms.

JSW Infra - India's second-largest private port operator - is also building a Gati Shakti multi-modal cargo terminal at Arakkonam, Chennai at a capex of Rs 150 crore, spread over 18 months. The company is also developing a greenfield port at Keni, Karnataka with an estimated capex of Rs 4,119 crore, having an initial capacity of 30 mtpa.