JSW Infrastructure's Strategic Move: A Bold Foray into Logistics with Navkar Corporation Acquisition

JSW Infrastructure is acquiring a 70.37% stake in Navkar Corporation, marking its entry into the logistics industry. The company remains tight-lipped about its corporate restructuring plans following the Rs 1,012 crore deal. The acquisition includes a public offer for an additional 26% stake.

In a bold strategic move, JSW Infrastructure has announced its acquisition of a significant 70.37 per cent stake in Navkar Corporation, a leading player in the logistics and cargo transit service sector. This Rs 1,012 crore deal marks JSW's ambitious entry into the logistics industry, a diversification from its core operations as India's second-largest private commercial port operator.

Although the details of the corporate restructuring plan remain under wraps, JSW Infrastructure Jt Managing Director & CEO Arun Maheshwari informed PTI during the YiFi 2024 event in Kolkata that further information would be disclosed in due course. The acquisition agreement, which includes 10,59,19,675 equity shares at Rs 95.61 per share, will be executed through JSW's wholly-owned subsidiary, JSW Port Logistics.

In addition, JSW Infrastructure plans to launch an open offer priced at Rs 105.32 per share to acquire an additional 26 per cent stake from public shareholders, bringing the total investment to around Rs 1,425 crore. This acquisition not only strengthens JSW's foothold in logistics but also paves the way for expanded value-added services, enhancing its operational portfolio.

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