Mumbai, June 27, 2024 – JSW Infrastructure Limited, a prominent entity within the JSW Group and India’s second-largest private commercial port operator, announced its strategic acquisition of a majority stake in Navkar Corporation Limited. The acquisition, executed through JSW’s wholly-owned subsidiary, JSW Port Logistics Private Limited, involves a 70.37% shareholding from Navkar’s Promoters and Promoter Group. The definitive agreements have been signed by both parties, with the completion contingent on receiving necessary regulatory approvals and fulfilling identified conditions precedent.
About Navkar Corporation
Navkar Corporation, listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), operates key facilities including a Container Freight Station (CFS) and the Gati Shakti Cargo Terminal at Somathane, Panvel, along with two additional CFSs at Ajivali, Panvel. Additionally, Navkar manages an Inland Container Depot (ICD) located in Morbi, Gujarat, which is part of a larger Multimodal Logistics Park (MMLP). The company also holds a Container Train Operator License for both Category 1 and Category 2 operations. Navkar’s strategic facilities in the industrial hubs of Maharashtra and Gujarat, combined with its robust railway infrastructure, enable it to offer extensive services across India.
This acquisition aligns with JSW Infrastructure’s broader strategy to explore and capitalize on value-accretive opportunities within the port and related infrastructure sectors, both through organic growth and strategic acquisitions. By acquiring Navkar, JSW Infrastructure aims to expand its footprint into the logistics sector and enhance its portfolio of value-added services, thereby improving port connectivity and providing streamlined supply chain solutions to its clients.
The integration of Navkar into JSW Infrastructure marks a significant step towards the company’s long-term vision of establishing a comprehensive, efficient logistics network across India. This move shall support the growth of JSW’s port-related container cargo operations, driven by India’s robust economic growth and increasing trade volumes.
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