JSW Infra promoter entity to dilute stake to comply with Sebi norms, Jefferies roped in

Based on market levels at the end of day's trade on May 13, a 2 per cent stake in JSW Infrastructure is worth around Rs 1,236.9 crore.

JSW Infrastructure promoter group entity Sajjan Jindal Family Trust (through its trustees Sajjan Jindal and Sangita Jindal) is planning to sell certain equity shares of the firm to comply with market regulator SEBI's minimum public shareholding (MPS) norms, according to a recent disclosure by the port operator and logistics player.

Sajjan Jindal Family Trust intends to sell up to a maximum of 2 percent stake in a single tranche or multiple tranches, in the open market, 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, according to the disclosure.

Based on market levels at the end of day's trade on May 13, a 2 per cent stake in JSW Infrastructure is worth around Rs 1,236.9 crore.

As per latest exchange data, Sajjan Jindal Family Trust holds 80.72 per cent stake. The total promoter stake stands at 85.62 per cent. JSW Infrastructure listed on the stock exchanges on October 3, 2023 and has seen its share price rise by 18 per cent in the last year. Under the Sebi norms, all listed companies must maintain a minimum public shareholding of 25 per cent within a specified window post listing and newly listed firms are generally granted three years.

"Investment bank Jefferies is working with the promoters on the proposed transaction. There is a long window for the deal to be executed, and it is likely via the block deal route depending on market conditions," a person told Moneycontrol on the condition of anonymity.

When contacted via email, JSW Group directed Moneycontrol to the MPS disclosure by JSW Infrastructure on May 9. Jefferies declined to comment.

JSW Infra is the second largest private port operator in India with 177 mtpa capacity and intends to scale up the logistics business to achieve a topline of Rs 8,000 crore by FY30.