JSW Infrastructure enters logistics sector by acquiring 70.37 percent stake in Navkar Corporation for ₹1,012 crore.
Sajjan Jindal-led JSW Infrastructure announced on Thursday its acquisition of a 70.37 percent shareholding in Navkar Corporation for approximately ₹1,012 crore, marking its foray into the logistics sector. The company signed a share purchase agreement to acquire 10,59,19,675 equity shares at ₹95.61 per share from certain promoters and members of Navkar’s promoter group.
JSW Infrastructure will fulfill its payment obligations through cash consideration. Following this transaction, the company plans to launch an open offer to acquire an additional 26 percent stake from public shareholders at ₹105.32 per share, amounting to around ₹413 crore. If fully subscribed, this would result in the acquisition of 39,134,988 equity shares, constituting 26 percent of Navkar’s total equity share capital.
This acquisition aligns with JSW Infrastructure’s strategy to pursue value-accretive opportunities in the port and related infrastructure sector, expanding its services into logistics and value-added solutions. It will enhance port connectivity and streamline supply chain solutions, providing access to 283 acres of land in the Mumbai Metropolitan Region.
