JSW Infrastructure's Strategic Stake Shift: Compliance Meets Opportunity
Sajjan Jindal Family Trust sold a 2% stake in JSW Infrastructure for Rs 1,210 crore to meet SEBI's public shareholding norms. Subsequently, the Singapore government acquired 0.9% of the company's shares. JSW Infrastructure, part of JSW Group, remains a significant private port operator in India.
- Country:
- India
Sajjan Jindal Family Trust, a major promoter of JSW Infrastructure, divested a 2% stake in the company for Rs 1,210 crore on Friday. This move aligns with the need to adhere to SEBI's minimum public shareholding (MPS) regulations.
According to National Stock Exchange (NSE) data, the trust, steered by trustees Sajjan Jindal and Sangita Jindal, offloaded 4.2 crore shares, equating to a 2% stake in the Mumbai-based conglomerate, at an average price of Rs 288.21 per share.
Following this transaction, the trust's holding in JSW Infrastructure has decreased from 80.72% to 78.72%. Additionally, the promoter group's total stake has been reduced from 85.62% to 83.62%. In a related development, the Singapore government acquired an extra 0.9% stake in the company, investing Rs 531 crore.
(With inputs from agencies.)
Google News