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Hot Pursuit News

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(28 Jun 2024, 10:50)

JSW Infra hits record high after arm inks pact to acquire 70% stake in Navkar Corp

JSW Infrastructure added 2.79% to Rs 327.95 after the company’s wholly owned subsidiary, JSW Port Logistics (JSW Port) has entered into a share purchase agreement with Navkar Corporation (NCL) to acquire 70.37% stake from the promoters of NCL.

Navkar Corporation rose 0.92% to Rs 113.18 on the BSE.

Navkar Corporation is a logistics service provider, offering a range of services across the logistics supply chain, ranging from transportation services (through a rail terminal facility and container train operation), consolidation/de-consolidation before export or import (at container of freight stations at Panvel), to storage (at inland container depots) and warehousing services. It provides a wide range of customised, technology-enabled integrated logistics solutions and corporate mobility services.

JSW Port will acquire 10,59,19,675 equity shares, constituting 70.37% at Rs 95.61 per share of the Navkar Corporation. Pursuant to the open offer, assuming the entire 26% is validly tendered and accepted in the open offer, The c...

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