In the early hours of December 5, shares of JSW Infrastructure Limited saw a robust 5% rise, reaching Rs 225, following the company’s announcement of a strategic move. JSW Infrastructure has entered into a share purchase agreement with SP Port Maintenance, a Shapoorji Pallonji Group company, to acquire a significant 50% plus one share of PNP Maritime for approximately Rs 270 crore.
This agreement entails the acquisition of a majority stake in PNP Maritime Services (PNP Port), an operational port company located in Shahbaj, Raigad district of Maharashtra. Since its market debut on October 3, JSW Infrastructure Limited’s stock has witnessed an impressive gain of nearly 40%.
In an exchange filing on December 4, JSW Infrastructure articulated its goal to augment cargo handling capacity and volume across all cargo types. The acquisition of PNP Maritime is seen as a strategic move aligning with JSW Infra’s growth objectives and an effort to expand its operational footprint.
As of 1:36 pm, the shares were trading at ₹227.75, reflecting a substantial 4.66% increase.
