JSW Infra to Acquire Majority Stake in Navkar Corp for ₹1,012 Cr

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Synopsis:

JSW Infrastructure will acquire 70.37% of Navkar Corp for ₹1,012 crore. It will be facilitated through a share purchase agreement at a price of ₹95.61/share. Additionally, an open offer will be launched at ₹105.32/share to purchase an additional 26% stake.

JSW Infra - Navkar Corp Acquisition News

JSW Infrastructure, a part of JSW Group and India's second-largest private commercial port operator, has announced its strategic move into the logistics industry with the acquisition of a majority stake in Navkar Corporation.

Acquisition Details

JSW Infrastructure will acquire 70.37% shareholding in Navkar Corporation for approximately ₹1,012 crore. This acquisition is facilitated through a share purchase agreement with promoters and members of the promoter group of Navkar Corporation, at a price of ₹95.61 per share.

Explore: Jsw Infrastructure Ltd Share Price

Financial Transaction

The acquisition will be executed by JSW Port Logistics, a wholly-owned subsidiary of JSW Infrastructure, through cash consideration. Additionally, an open offer will be launched at ₹105.32 per share to purchase an additional 26% stake from public shareholders, amounting to around ₹413 crore assuming full acceptance.

Strategic Implications

JSW Infrastructure's entry into Navkar Corporation marks its foray into logistics and other value-added services. This strategic move aligns with JSW Group's growth strategy in the infrastructure sector.

JSW Infrastructure, known for its robust presence in the port operations sector, aims to leverage Navkar Corporation's expertise in logistics and cargo transit services.

Navkar Corporation reported a turnover of ₹434.87 crore for the fiscal year 2023-24, highlighting its established presence in the industry.

Conclusion

The acquisition of Navkar Corporation by JSW Infrastructure represents a significant step towards expanding its footprint in the logistics sector. This move is expected to enhance operational synergies and broaden service offerings within the JSW Group's portfolio.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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