JSW Infra acquires 70.4% stake in Navkar Corp for Rs 10.13 billion

28 Jun 2024 CW Team

JSW Infrastructure, led by Sajjan Jindal and the second-largest private commercial port operator in India, has acquired a 70.37% stake in BSE-listed logistics firm Navkar Corporation for Rs 10.12 billion. An open offer will be made to the remaining shareholders of Navkar Corporation, in accordance with SEBI takeover code. This open offer is estimated to cost an additional Rs 4.12 billion. Navkar operates a container freight station (CFS) and Gati Shakti Cargo Terminal at Somathane, Pavnel, and two CFS facilities at Ajivali, Panvel. Additionally, the company owns an Inland Container Depot (ICD) at Morbi, Gujarat, which is part of the multimodal logistics park (MMLP). Navkar also holds a Container Train Operator License of Category 1 and Category 2, with facilities in the Western India industrial belt of Maharashtra and Gujarat, leveraging its railway capability to expand its service network across the country.

"The acquisition aligns with our strategy to pursue value-accretive organic and inorganic opportunities in the port and related infrastructure sector. This move marks our entry into logistics and other value-added services, enabling us to offer improved port connectivity and streamlined supply chain solutions to our customers,"stated JSW Infrastructure.

This acquisition represents a significant step towards JSW Infrastructure's long-term vision of building a robust pan-India logistics network for last-mile connectivity. It also complements the company's growth strategy of increasing its share of port-related container cargo, driven by India's strong economic fundamentals.

(Source: BS)

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..