JSW Infrastructure Limited has informed the Exchange regarding Outcome of Board Meeting held on February 20, 2026.
JSWINFRA · price
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JSW Infrastructure's Board, at its meeting on February 20, 2026, approved two key items. First, it appointed Mr. Kartick Maheshwari (currently a senior partner at Khaitan & Co.) as a Non-Executive, Independent Director for a 3-year term starting February 20, 2026, replacing Mr. Amitabh Kumar Sharma whose second term ends March 27, 2026. Second, the Board approved raising funds by issuing up to 25 crore equity shares of face value Rs. 2 each, via QIP, FPO, Rights Issue, or other permissible modes, subject to shareholder and regulatory approvals. The fund raise will support the company's Rs. 39,000-crore capex plan to scale port capacity from 177 MTPA to 400 MTPA by FY2030, and also help meet SEBI's 25% Minimum Public Shareholding (MPS) requirement within 3 years of its October 2023 listing. The company reported a strong balance sheet with Net Debt-to-EBITDA at 0.76x and cash balances of Rs. 3,455 crore as of December 31, 2025, and expects operating EBITDA to double to ~Rs. 5,000 crore by FY28. A postal ballot will be sent to shareholders for both approvals.
The equity issuance signals potential dilution for existing shareholders, though the company frames it as supporting growth and meeting regulatory MPS norms. The capex-driven expansion and improving EBITDA outlook are positive for long-term value, but short-term sentiment may be cautious on dilution. Shareholders will vote on both proposals via postal ballot.