Sajjan Jindal Family Trust Offloads 2 Per Cent Share In JSW Infra

The latest transaction came as the promoter entity has to comply with market regulator Sebi's minimum public shareholding (MPS) norms.

The shares were offloaded at an average price of Rs 288.21 apiece, taking the transaction value to Rs 1,210.48 crore.

Source : JSW Infra

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.

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.

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). 

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)