JSW Infrastructure debuted on the bourses on October 3, 2023.
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DANISH SIDDIQUI
Ports operator JSW Infrastructure said it has approved raising equity capital by issuing up to 25 crore shares, setting the stage for a fresh fund infusion to back its aggressive expansion plans and to comply with regulatory norms for minimum public stake.
The company did not specify how much of funds it planned to raise but based on its closing market price on Friday, the share issuance is worth ₹6,325 crore.
The proposed issuance will help the company meet the Securities and Exchange Board of India’s (SEBI) requirement to raise public shareholding to 25 per cent within three years of listing.
The port operator debuted on the bourses on October 3, 2023, and must align with the minimum public shareholding (MPS) norms within the stipulated timeline.
The fund-raise comes as the company is executing a ₹39,000-crore integrated capital expenditure programme aimed at scaling port capacity from 177 million tonnes per annum (MTPA) to 400 MTPA by FY2030.
The plan spans brownfield expansions, new connectivity projects and greenfield developments across Odisha, Karnataka, Maharashtra and Oman. In parallel, it is investing ₹9,000 crore to build an integrated ports-to-hinterland logistics ecosystem as part of the broader capex blueprint.
Despite the expansion push, the company had maintained a relatively conservative balance sheet, with net debt-to-EBITDA at 0.76 times and cash and bank balances of ₹3,455 crore as of December 31, 2025.
It holds investment-grade ratings from global agencies, underscoring financial resilience amid large-scale investments.
The company has guided operating EBITDA to double by FY28 from FY26 levels to around ₹5,000 crore, driven by project execution in the ports business and the transition of logistics assets from capex to revenue contribution.
The company said the equity raise would strengthen its growth trajectory while reinforcing governance standards and broadening market participation as it builds out a national maritime and logistics platform.
Published on February 20, 2026
