JSW Infra approves equity fundraise to fuel growth, meet MPS norms

JSW Infra will raise up to 25 crore equity shares to support expansion and comply with Sebi's 25% public shareholding rule, as it targets 400 MTPA capacity and major logistics investments

The board of directors at JSW Infrastructure (JSW Infra) has approved raising funds by issuing up to 25 crore equity shares of face value of ₹2 each to support its expansion plans and also align with the minimum public shareholding (MPS) norms by the Securities and Exchange Board of India (Sebi).

 

The funds may be raised through multiple modes, including qualified institutional placement (QIP), further public offer, rights issue or any other permissible mode, the company said in a stock exchange filing today.

 

“The fund-raising initiative marks a pivotal step in the company’s journey to build a world-class ports and logistics ecosystem. Beyond supporting our growth projects and strengthening our national footprint, it will also enable us to meet the MPS requirement within the mandated timeline,” Rinkesh Roy, Joint Managing Director and Chief Executive Officer, JSW Infra, said.

 

As of December 2025, the promoter and promoter group held 83.62 per cent stake in the company via 175.59 crore fully paid-up equity shares, while public shareholding stood at 15.64 per cent. Sajjan Jindal and Sangita Jindal, trustees of the Sajjan Jindal Family Trust, held 78.72 per cent stake in the company through 165.31 crore shares.

 

As per Sebi regulations, a company is required to achieve 25 per cent public shareholding within three years from its Initial Public Offering (IPO). JSW Infra was listed on 3 October 2023.

 

In May last year, the Singapore government acquired a 0.88 per cent stake in JSW Infra for ₹531 crore through block deals, as part of a broader promoter stake sale by the Sajjan Jindal Family Trust. The trust offloaded 2 per cent of JSW Infra, India’s second-largest commercial port operator, in a ₹1,210-crore transaction to multiple institutional investors, including the Singapore government.

 

According to data from the National Stock Exchange, Singapore’s sovereign arm had purchased 18.4 million shares at ₹288 apiece from the promoter group. The Sajjan Jindal Family Trust held 80.72 per cent stake in JSW Infra as of 31 March 2025, while total promoter shareholding stood at 85.62 per cent.

 

JSW Infra aims to increase its cargo-handling capacity to 400 million tonnes per annum (MTPA) by FY30 or earlier, up from the current capacity of 177 MTPA. To achieve this, it has outlined a comprehensive capital expenditure plan of ₹30,000 crore for the ports segment and ₹9,000 crore to expand its logistics footprint across India between FY25 and FY30.

 

The targeted capacity will be achieved through brownfield expansions, connectivity projects, a fully integrated ports-to-hinterland logistics ecosystem and greenfield developments in Odisha, Karnataka, Maharashtra and Oman.

 

As of December 2025, JSW Infra’s net debt-to-earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at 0.76x, with cash and bank balances at ₹3,455 crore.

 

JSW Infra is targeting consolidated operating revenue of ₹5,400 crore and operating Ebitda of ₹2,600 crore for FY26. On this basis, Ebitda is expected to grow by 15 per cent in FY27 and nearly double by FY28. “This outlook is underpinned by clear execution visibility across the under-construction projects in the ports segment and the transition of rolling assets from capex to Ebitda contribution within the logistics segment,” it noted.

 

In FY25, the company’s revenue grew 19 per cent to ₹4,476 crore, while profit increased 30 per cent to ₹1,503 crore. The company's share price at the Bombay Stock Exchange (BSE) closed at ₹253 today.