JSW Infrastructure Limited Establishes Wholly Owned Subsidiary

On June 20, 2024, JSW Infrastructure Limited informed the stock exchanges that the company had incorporated a wholly owned subsidiary, namely JSW Port Logistics Private Limited. This wholly-owned subsidiary was established on June 19, 2024.

Details of the Wholly Owned Subsidiary

JSW Port Logistics Private Limited has been established as a wholly owned subsidiary operating within the Infrastructure and Logistics industry. The company has an authorised capital comprising 10,000 equity shares, each valued at ₹10. Correspondingly, the paid-up share capital mirrors this, amounting to 10,000 equity shares at ₹10 each. The registered office is located in Mumbai.

As the company is in its developing stage and has yet to commence business operations, details on turnover and size are not applicable at this point.

Regarding the objective of the incorporation of the wholly owned subsidiary, JSW Infrastructure Ltd stated that it is actively exploring opportunities to expand its presence in logistics infrastructure facilities, warehousing, container freight stations, and related areas. The company has established JSW Port Logistics Private Limited to pursue this goal.

They further added that the cost of acquisition for JSW Port Logistics Private Limited amounts to ₹1,00,000 (Indian Rupees One Lakh). This investment corresponds to the subscription to the memorandum of association, encompassing 10,000 equity shares, each priced at ₹10.

Earlier this year, in April, the company’s other wholly owned subsidiary, JSW JNPT Liquid Terminal Private Limited, entered into a concession agreement on April 08, 2024, with Jawaharlal Nehru Port Authority for equipping, operation, maintenance and transfer of liquid cargo berths LB3 and LB4 at Jawaharlal Nehru Port through Public Private Partnership Mode.

About JSW Infrastructure Limited

JSW Infrastructure is part of the well-known JSW Group. It offers maritime-related services such as cargo handling, storage solutions, and logistics services. JSW Infrastructure Limited is the second-largest private port operator in the country, boasting a substantial cargo handling capacity of 170 MTPA. On the international front, JSW Infrastructure Limited is determined by its state-of-the-art liquid tank storage facility in Fujairah, UAE, which has a capacity of 4,65,000 cubic meters.

On June 21, 2024, the share price of JSW Infrastructure Ltd opened at ₹303.50, touching the day’s low at ₹301.30, as of 9:36 AM on the NSE.

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.