Jindal Family Trust to sell ₹1,200 cr JSW Infra stake to meet Sebi norms

Sajjan Jindal Family Trust to offload up to ₹1200 crore in JSW Infra shares via block deal to comply with Sebi's minimum 25 per cent public shareholding regulations

The Sajjan Jindal Family Trust is preparing to offload shares worth up to ₹1,200 crore in JSW Infrastructure through a block deal, according to a report by ET Now. The floor price for the offer has been set at ₹288 per share, with as many as 42 million shares on offer.

 

According to the latest exchange data, the Sajjan Jindal Family Trust holds a majority stake of 80.72 per cent in JSW Infrastructure. The total promoter shareholding in the company stands at 85.62 per cent.

 

Sale linked to Sebi’s minimum public shareholding norms

 

The planned stake sale is part of a broader effort to meet regulatory requirements. In a recent regulatory filing, JSW Infrastructure disclosed that the Sajjan Jindal Family Trust — represented by trustees Sajjan Jindal and Sangita Jindal — intends to sell up to 2 per cent of its holdings in one or more tranches.   

 

 

  "Sajjan Jindal Family Trust intends to sell up to a maximum of 2 per cent stake in a single tranche or multiple tranches, in the open market, over a period beginning from 13 May 2025 or onwards till 31 March 2026, subject to any other permissible methods of meeting minimum public shareholding in terms of the applicable law," the company stated in its disclosure dated 9 May.

 

Under Sebi regulations, listed companies must ensure a minimum of 25 per cent public shareholding within a defined period post-listing. Newly listed entities are typically given a three-year window to comply.

 

JSW Infrastructure made its market debut on 3 October 2023. Since listing, the company’s stock has appreciated by 18 per cent, the news report said.

 

What is an open market divestment?

 

Open market divestment refers to the process where a company, organisation or government sells its stake or assets directly through the stock market, allowing shares to be purchased by the general public or institutional investors. This method enhances transparency and broadens ownership among market participants.

 

JSW Group set to acquire 75% stake in AkzoNobel India

 

The JSW Group is close to acquiring a 75 per cent stake in AkzoNobel India, the maker of Dulux paints, from its Dutch parent in a deal estimated at around ₹12,000 crore.   

 

  The acquisition would mark JSW’s latest foray into the fast-growing consumer-facing paints sector, as the group looks to scale up in a market that has seen intensifying competition. The deal would effectively give JSW control of the company.

 

To finance the transaction, the Jindal family considered the sale of a 2 per cent stake in JSW Infrastructure and may also rope in private equity partners to support the funding, a source told Business Standard.

 

Interest in acquiring AkzoNobel India surged last month after shortlisted contenders — including Pidilite Industries and Indigo Paints — submitted binding offers. Earlier stages of the process also attracted non-binding bids from US-based private equity giant Blackstone, highlighting the strategic importance of AkzoNobel’s operations in India.