Sajjan Jindal Family Trust has made a secondary sale of 4,20,00,000 equity shares held in JSW Infrastructure Limited aggregating to ~₹1,200 crore.
Khaitan & Co acted for Sajjan Jindal Family Trust on this share sale.
TT&A advised Jefferies India Private Limited which acted as the sole broker on this transaction.
The transaction team consisted of Abhinav Kumar (Partner) and Shubham Sancheti (Managing Associate).
Ashurst acted as the international counsel to Jefferies India Private Limited.
This move is primarily to comply with the Securities and Exchange Board of India's (SEBI) mandate requiring listed companies to maintain a minimum public shareholding of 25% within three years of listing. JSW Infrastructure, which went public on October 3, 2023, currently has a promoter holding of 85.62%, with the Family Trust owning 80.72%
The deal involved the sale of around 4.2 crore shares (2% stake) at a floor price of ₹288 per share, with institutional investors including the Government of Singapore acquiring a 0.88% stake for ₹531 crore.
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