JSW Infra approves major equity issuance to fuel ₹39,000 crore plan
The expansion plan aims to nearly double the total cargo-handling capacity from the current 177 MTPA to 400 MTPA by FY 2030.
India’s second-largest private port developer, JSW Infrastructure, announced on Friday that its Board of Directors has approved an enabling resolution to raise funds through the issuance of up to 25 crore equity shares.
According to regulatory filings submitted to the BSE and NSE, the shares, which carry a face value of ₹2 each, may be issued via a public issue, rights issue, private placement, or qualified institutions placement (QIP) in one or multiple tranches.
The capital raised will be heavily channeled into JSW Infrastructure’s sweeping ₹39,000 crore integrated capital expenditure (capex) program.
The expansion plan targets an increase in total cargo-handling capacity, aiming to nearly double it from the current 177 million tonnes per annum (MTPA) to 400 MTPA by the fiscal year 2030.
This growth will be achieved through a strategy encompassing brownfield expansions, connectivity enhancements, and new greenfield developments across key geographies, including Odisha, Karnataka, Maharashtra, and Oman.
A substantial investment of ₹9,000 crore has been specifically allocated to establishing a fully integrated, end-to-end ports-to-hinterland logistics network to support this expanded capacity and geographic reach.
Beyond fueling its physical expansion, the equity dilution serves a critical compliance function. The share issuance will help JSW Infrastructure meet the Securities and Exchange Board of India’s (SEBI) Minimum Public Shareholding (MPS) requirement.
Under SEBI norms, listed companies must maintain a minimum public float of 25% within three years of their market debut. Having officially listed on the bourses on October 3, 2023, the upcoming issuance will comfortably position the company to meet this impending deadline.
As a leading player in India's maritime sector, JSW Infrastructure currently operates three ports under State Maritime Board jurisdiction and manages ten terminals across major Indian ports. Its portfolio also includes a liquid oil storage terminal and two operations and maintenance (O&M) contracts for port terminals in the United Arab Emirates.
