JSW Infrastructure Limited has informed the Exchange regarding Appointment of Mr Kartick Maheshwari as Non- Executive Independent Director of the company w.e.f. February 20, 2026.
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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, a senior partner at Khaitan & Co with 20+ years in corporate law, as a Non-Executive Independent Director for a 3-year term, replacing Mr. Amitabh Kumar Sharma whose second term ends March 27, 2026. Second, the board approved an enabling resolution to raise funds by issuing up to 25 crore equity shares of face value Rs. 2 each, through QIP, FPO, Rights Issue, or other permissible modes. The fundraise will support the company's Rs. 39,000 crore capex plan to expand port capacity from 177 MTPA to 400 MTPA by FY2030, and also help meet SEBI's Minimum Public Shareholding (25%) 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 of Rs. 3,455 crore as of December 2025, with operating EBITDA expected to double to ~Rs. 5,000 crore by FY28. Both items are subject to shareholder approval via postal ballot.
The new director adds strong legal and corporate governance expertise to the board. The potential equity dilution of up to 25 crore shares could create short-term overhang on the stock, but the fundraise underpins a major growth plan. Investors should watch for the final pricing, mode of issuance, and dilution percentage.