JSW Infra likely to consider QIP, FPO to dilute promoters' stake

JSW Infra considers stake dilution via QIP and FPO to meet Sebi's minimum public shareholding norms as promoter group holds over 85 per cent in the company

Sajjan Jindal-owned JSW Infrastructure (JSW Infra) may evaluate options such as qualified institutional placement (QIP) and follow-on public offering (FPO) to dilute the promoter’s stake in the company in line with Securities and Exchange Board of India (Sebi) norms.

 

Sajjan Jindal, chairman, non-executive director, and individual promoter of JSW Infra, said at the company’s annual general meeting on Tuesday: ‘We will evaluate options, including qualified institutional placement and follow-on public offering, based on the capital expenditure requirements, prevailing market conditions, and in alignment with the long-term interest of the shareholders.’

 

According to Sebi’s Minimum Public Shareholding (MPS) norms, listed Indian