+
JSW Trust Sells Rs 12.1 Billion Stake to Aid Akzo Deal
ECONOMY & POLICY

JSW Trust Sells Rs 12.1 Billion Stake to Aid Akzo Deal

The Sajjan Jindal Family Trust has divested a 2 per cent stake in JSW Infrastructure Ltd — India’s second-largest commercial port operator — for Rs 12.1 billion, selling shares to institutional investors including the Government of Singapore. The move is part of efforts to comply with public shareholding norms and potentially fund JSW Group’s planned acquisition of Akzo Nobel India.

Of the total divestment, 0.88 per cent was offloaded directly to Singapore’s sovereign entity, which acquired approximately 18.4 million shares via block deals at Rs 288 each, amounting to Rs 5.31 billion, according to National Stock Exchange data.

The share sale supports two objectives: meeting the Securities and Exchange Board of India (SEBI) mandate requiring listed companies to maintain at least 25 per cent public float, and raising capital for the prospective acquisition of Akzo Nobel India from its Dutch parent. The acquisition would mark JSW’s expansion into the consumer-facing paints sector, providing access to a strong distribution network and the well-established Dulux brand—particularly valuable amidst increasing competition from new entrants like the Aditya Birla Group.

Parth Jindal, representing the next generation of the Jindal family, is reportedly leading negotiations with Akzo Nobel NV. An announcement is expected shortly, according to bankers familiar with the talks. Akzo Nobel NV currently holds a 75 per cent stake in its Indian subsidiary.

JSW Infrastructure, which debuted on the stock market in October 2023, closed at Rs 288.25 per share on 16 May, giving the company a market capitalisation of approximately Rs 605.3 billion. Shares of Akzo Nobel India rose 3.3 per cent to Rs 3,597 on the same day.

As of 31 March, the Sajjan Jindal Family Trust held 80.72 per cent of JSW Infra, while total promoter shareholding stood at 85.62 per cent. Under SEBI regulations, the promoter group has until September 2026 to bring its stake below the 75 per cent threshold. In a recent filing, JSW Infrastructure confirmed the promoter group, represented by Sajjan and Sangita Jindal, would reduce its holding by up to 2 per cent through open market sales between 13 May 2025 and 31 March 2026.

The Sajjan Jindal Family Trust has divested a 2 per cent stake in JSW Infrastructure Ltd — India’s second-largest commercial port operator — for Rs 12.1 billion, selling shares to institutional investors including the Government of Singapore. The move is part of efforts to comply with public shareholding norms and potentially fund JSW Group’s planned acquisition of Akzo Nobel India.Of the total divestment, 0.88 per cent was offloaded directly to Singapore’s sovereign entity, which acquired approximately 18.4 million shares via block deals at Rs 288 each, amounting to Rs 5.31 billion, according to National Stock Exchange data.The share sale supports two objectives: meeting the Securities and Exchange Board of India (SEBI) mandate requiring listed companies to maintain at least 25 per cent public float, and raising capital for the prospective acquisition of Akzo Nobel India from its Dutch parent. The acquisition would mark JSW’s expansion into the consumer-facing paints sector, providing access to a strong distribution network and the well-established Dulux brand—particularly valuable amidst increasing competition from new entrants like the Aditya Birla Group.Parth Jindal, representing the next generation of the Jindal family, is reportedly leading negotiations with Akzo Nobel NV. An announcement is expected shortly, according to bankers familiar with the talks. Akzo Nobel NV currently holds a 75 per cent stake in its Indian subsidiary.JSW Infrastructure, which debuted on the stock market in October 2023, closed at Rs 288.25 per share on 16 May, giving the company a market capitalisation of approximately Rs 605.3 billion. Shares of Akzo Nobel India rose 3.3 per cent to Rs 3,597 on the same day.As of 31 March, the Sajjan Jindal Family Trust held 80.72 per cent of JSW Infra, while total promoter shareholding stood at 85.62 per cent. Under SEBI regulations, the promoter group has until September 2026 to bring its stake below the 75 per cent threshold. In a recent filing, JSW Infrastructure confirmed the promoter group, represented by Sajjan and Sangita Jindal, would reduce its holding by up to 2 per cent through open market sales between 13 May 2025 and 31 March 2026.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?