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 on Friday. The move was made to comply with SEBI's minimum public shareholding requirements.
According to bulk deal data from the National Stock Exchange, the trust—represented by trustees Sajjan Jindal and Sangita Jindal—sold 4.2 crore shares, equivalent to a 2% stake in JSW Infrastructure. The shares were offloaded at an average price of Rs 288.21 each, totaling Rs 1,210.48 crore.
Following the transaction, Sajjan Jindal Family Trust's stake in JSW Infra fell from 80.72% to 78.72%, while the overall promoter and promoter group holdings dropped from 85.62% to 83.62%.
Meanwhile, the Singapore government acquired 1.84 crore shares, representing a 0.9% stake in JSW Infrastructure, for Rs 531 crore at an average price of Rs 288.10 per share.
Other buyers involved in the deal were not identified 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 Oct. 3, 2023, has witnessed an 18% 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% 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.
(With PTI Inputs)
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