JSW Infra Shares Retreat 3% After Promoters Likely Sell 2% Stake Worth Rs 1,239 Crore

Shares of JSW Infrastructure fell nearly 3% on May 16 after a block deal worth Rs 1,239 crore was executed on the counter, with the company’s promoters—the Sajjan Jindal Family Trust, believed to be the likely sellers.

Around 4.26 crore shares, representing a 2.03% stake in the company, changed hands on the exchanges through the block deal. The transaction was carried out at a floor price of  Rs 290.60 per share, reflecting a discount of over 2% to the previous closing price.

While there has been no official confirmation regarding the identities of the buyers or sellers, Moneycontrol had earlier reported that the Sajjan Jindal Family Trust, led by trustees Sajjan Jindal and Sangita Jindal, was planning to offload up to a 2% stake via a block deal worth around Rs 1,200 crore.

The move is part of the promoter group’s plan to comply with the Securities and Exchange Board of India’s (SEBI) minimum public shareholding (MPS) norms. In a stock exchange disclosure dated May 9, the company had stated that the Sajjan Jindal Family Trust intended to sell up to a maximum of 2% stake, either in a single tranche or multiple tranches, in the open market starting from May 13, 2025, until March 31, 2026. While the stake sale was anticipated, the timing of the transaction had remained uncertain.

The Sajjan Jindal Family Trust owned an 80.72% stake in the country’s second largest port operator, as per its latest shareholding data.

JSW Infrastructure is the second-largest private port operator in India, with a current cargo handling capacity of 177 million tonnes per annum (mtpa). The company is also expanding its footprint in the logistics space and has set a revenue target of Rs 8,000 crore by FY30.