JSW Infra Promoter Offloads 2% Stake For ₹12.1 Billion To Meet MPS Norms

JSW Infrastructure Ltd. said Monday that the Sajjan Jindal Family Trust sold 42 million shares, or a 2% stake, in a market sale on Friday. The sale brought the trust’s holding down to 78.72% from 80.72%, and the overall promoter and promoter group stake to 83.62% from 85.62%, the company said in an exchange filing.

Bulk deal data from the National Stock Exchange showed the trust offloaded the shares for ₹12.10 billion. On the same day, the Government of Singapore picked up 18.45 million shares of JSW Infra through a bulk deal worth ₹5.31 billion.

Earlier on May 9, JSW Infra had said the Sajjan Jindal Family Trust planned to divest up to 2% in one or more tranches between May 13 and March 31 to comply with the 25% minimum public shareholding rule mandated by SEBI.