JSW Infra subsidiary acquired a 70.37% stake in Navkar Corporation

JSW Infrastructure Limited, India’s second-largest private port operator, can handle a substantial 170 MTPA of cargo. At key locations along India’s east and west coasts, JSW Infrastructure specializes in building environmentally responsible and productive port facilities. Its ten ports and terminal concessions are its operating areas, and its facilities are positioned strategically to make it the preferred choice for its discerning demographic. A state-of-the-art 465,000 cubic meter liquid tank storage facility in Fujairah, United Arab Emirates, serves as a testament to its global recognition. The fact that JSW Infrastructure manages two dry bulk terminals in the United Arab Emirates—Fujairah and Dibba—adds to the company’s global reach.

Navkar Corporation Limited is 70.37% owned by JSW Infrastructure Ltd.

In an all-cash deal valued at Rs 1,012.70 crores, JSW Infrastructure Ltd. has agreed to purchase a 70.37% stake at Rs 95.61 per share in Mumbai-listed multimodal logistics company Navkar Corporation Ltd. This will support the port business of India’s second-largest private port operator as it expands into logistics and other value-added services for last-mile connectivity.

In a regulatory filing, JSW Infrastructure stated that Navkar Corporation’s mandatory open offer under the SEBI takeover code will be made at Rs. 105.32 per share for the remaining 26% stake from public shareholders, or Rs 412.16 crores. For FY24, Navkar Corporation recorded revenue of Rs. 453.14 crores.

Today’s stock price of JSW Infrastructure Ltd. is slightly lower.

The stock of JSW Infrastructure Ltd. is currently trading at Rs. 319.25 per share, down nearly 1% from its low of Rs. 318.30. Because of the ongoing agreement with Navkar Corporation Ltd., the stock is expected to rise significantly in the coming days.

Today’s gains in Navkar Corporation Ltd.’s stock have exceeded 6%.

The stock of Navkar Corporation Ltd. is currently trading at Rs. 133.07 per share, with a high trade price of Rs. 135.00 following JSW Infrastructure Ltd.’s acquisition of a 70.37% stake.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.