The Sajjan Jindal Family Trust will sell shares worth Rs 1,200 crore in JSW Infrastructure |
Mumbai: The Sajjan Jindal Family Trust plans to sell up to Rs 1,200 crore worth of shares in JSW Infrastructure, according to a report by ET Now. The sale will happen through a block deal at a floor price of Rs 288 per share, with about 42 million shares being offered.
Why the Sale is Happening?
As per a regulatory filing by JSW Infrastructure on 9 May, the share sale is to meet Sebi’s rule requiring listed companies to have at least 25 per cent public shareholding. JSW Infrastructure, which was listed on 3 October 2023, has three years to comply.
Currently, the Sajjan Jindal Family Trust owns 80.72 per cent of JSW Infrastructure. The total promoter shareholding is 85.62 per cent. The trust, represented by Sajjan Jindal and Sangita Jindal, plans to sell up to 2 per cent of its shares from May 13, 2025, to March 31, 2026.
What is Open Market Divestment?
Open market divestment means selling shares directly on the stock market. This allows investors and the public to buy shares easily. It is a clear and fair way to spread company ownership and follow Sebi’s listing rules.
JSW Group Eyes AkzoNobel India Deal
As reported by Business Standard, the JSW Group is close to acquiring a 75 per cent stake in AkzoNobel India, known for its Dulux paint brand. The estimated deal size is Rs 12,000 crore. If completed, it would give JSW Group control of the company.
To help fund this deal, the Jindal family may use money raised from the 2 per cent stake sale in JSW Infrastructure. They are also considering bringing in private equity partners to support the purchase.
Other companies, such as Pidilite Industries and Indigo Paints, also made bids for AkzoNobel India. U.S. investment firm Blackstone had earlier shown interest, highlighting the value of the paints business in India.
