JSW Infra acquires 70.4% stake in Navkar Corp for Rs 10.13 billion
PORTS & SHIPPING

JSW Infra acquires 70.4% stake in Navkar Corp for Rs 10.13 billion

JSW Infrastructure, led by Sajjan Jindal and the second-largest private commercial port operator in India, has acquired a 70.37% stake in BSE-listed logistics firm Navkar Corporation for Rs 10.12 billion. An open offer will be made to the remaining shareholders of Navkar Corporation, in accordance with SEBI takeover code. This open offer is estimated to cost an additional Rs 4.12 billion. Navkar operates a container freight station (CFS) and Gati Shakti Cargo Terminal at Somathane, Pavnel, and two CFS facilities at Ajivali, Panvel. Additionally, the company owns an Inland Container Depot (ICD) at Morbi, Gujarat, which is part of the multimodal logistics park (MMLP). Navkar also holds a Container Train Operator License of Category 1 and Category 2, with facilities in the Western India industrial belt of Maharashtra and Gujarat, leveraging its railway capability to expand its service network across the country.

"The acquisition aligns with our strategy to pursue value-accretive organic and inorganic opportunities in the port and related infrastructure sector. This move marks our entry into logistics and other value-added services, enabling us to offer improved port connectivity and streamlined supply chain solutions to our customers,"stated JSW Infrastructure.

This acquisition represents a significant step towards JSW Infrastructure's long-term vision of building a robust pan-India logistics network for last-mile connectivity. It also complements the company's growth strategy of increasing its share of port-related container cargo, driven by India's strong economic fundamentals.

(Source: BS)

JSW Infrastructure, led by Sajjan Jindal and the second-largest private commercial port operator in India, has acquired a 70.37% stake in BSE-listed logistics firm Navkar Corporation for Rs 10.12 billion. An open offer will be made to the remaining shareholders of Navkar Corporation, in accordance with SEBI takeover code. This open offer is estimated to cost an additional Rs 4.12 billion. Navkar operates a container freight station (CFS) and Gati Shakti Cargo Terminal at Somathane, Pavnel, and two CFS facilities at Ajivali, Panvel. Additionally, the company owns an Inland Container Depot (ICD) at Morbi, Gujarat, which is part of the multimodal logistics park (MMLP). Navkar also holds a Container Train Operator License of Category 1 and Category 2, with facilities in the Western India industrial belt of Maharashtra and Gujarat, leveraging its railway capability to expand its service network across the country. The acquisition aligns with our strategy to pursue value-accretive organic and inorganic opportunities in the port and related infrastructure sector. This move marks our entry into logistics and other value-added services, enabling us to offer improved port connectivity and streamlined supply chain solutions to our customers,stated JSW Infrastructure. This acquisition represents a significant step towards JSW Infrastructure's long-term vision of building a robust pan-India logistics network for last-mile connectivity. It also complements the company's growth strategy of increasing its share of port-related container cargo, driven by India's strong economic fundamentals. (Source: BS)

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?