JSW Infrastructure Promoter Entity Sells 2% Stake for Rs 1,210 Crore to Meet SEBI Norms

The Sajjan Jindal Family Trust, a promoter of JSW Infrastructure, sold a 2% stake in the company for Rs 1,210 crore through an open market transaction. This move was necessary to comply with the Securities and Exchange Board of India's (SEBI) minimum public shareholding norms. The transaction involved selling 4.2 crore shares at an average price of Rs 288.21 each.

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Following this sale, the Sajjan Jindal Family Trust's ownership in JSW Infrastructure decreased from 80.72% to 78.72%. Additionally, the overall stake held by promoters and promoter group entities fell from 85.62% to 83.62%. The Singapore government acquired an extra 0.9% stake, equivalent to 1.84 crore shares, for Rs 531 crore at an average price of Rs 288.10 per share.

JSW Infrastructure's Market Performance

JSW Infrastructure's shares declined by 2.93%, closing at Rs 288.35 on the National Stock Exchange (NSE) on Friday. The company, which debuted on the stock market on October 3, 2023, has seen its share price rise by 18% over the past year. As per SEBI regulations, listed companies must maintain a minimum public shareholding of 25% within a specified period after listing.

The Sajjan Jindal Family Trust had previously announced plans to sell up to 2% of JSW Infrastructure's total paid-up equity share capital. This sale would occur in one or more tranches between May 13, 2025, and March 31, 2026, subject to applicable laws for meeting public shareholding requirements.

Compliance with SEBI Norms

Newly listed companies like JSW Infrastructure are typically given three years to meet SEBI's public shareholding requirement. This regulation ensures that at least a quarter of a company's shares are available for public trading within this timeframe.

JSW Infrastructure is part of the JSW Group led by Sajjan Jindal and ranks as India's second-largest private commercial port operator with a capacity of 177 million tonnes per annum (mtpa). Despite the recent dip in stock prices, the company remains a significant player in the industry.

The identities of other buyers involved in acquiring JSW Infrastructure shares during this transaction were not disclosed on the NSE. However, the Singapore government's purchase highlights continued international interest in the company.

With inputs from PTI