JSW Infrastructure Board Approves ₹5,000 Cr Equity Raise and Director Appointment
JSW Infrastructure's board meeting on February 20, 2026 resulted in approval of major equity fund raising through issuance of up to 25 crore shares of ₹2 face value each via QIP, FPO or Rights Issue. The funds will support the company's ₹39,000 crore integrated capex plan to expand port capacity from 177 MTPA to 400 MTPA by FY2030 and ensure SEBI's 25% public shareholding compliance. Additionally, the board appointed Mr. Kartick Maheshwari as Non-Executive Independent Director for three years, replacing Mr. Amitabh Kumar Sharma whose term ends in March 2026.
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JSW Infrastructure Limited's board of directors concluded their meeting on February 20, 2026, with significant approvals for fund raising and leadership changes. The company has approved raising funds through issuance of up to 25,00,00,000 equity shares of face value ₹2 each, supporting its multi-year expansion program and SEBI's Minimum Public Shareholding compliance requirements.
Board Meeting Outcomes
The board meeting, which commenced at 2:00 p.m. (IST) and concluded at 3:45 p.m. (IST), addressed two major agenda items with strategic implications for the company's growth trajectory.
| Meeting Details: | Information |
|---|---|
| Date: | February 20, 2026 |
| Duration: | 2:00 p.m. to 3:45 p.m. (IST) |
| Key Approvals: | Equity fund raising and director appointment |
| Regulatory Compliance: | Regulation 30 of SEBI Listing Regulations |
Director Appointment and Leadership Changes
The board approved the appointment of Mr. Kartick Maheshwari (DIN: 07969734) as a Non-Executive, Independent Director for a three-year term from February 20, 2026, to February 19, 2029. This appointment follows the upcoming conclusion of Mr. Amitabh Kumar Sharma's second consecutive term as Independent Director on March 27, 2026.
| Director Details: | Information |
|---|---|
| Name: | Mr. Kartick Maheshwari |
| DIN: | 07969734 |
| Designation: | Non-Executive, Independent Director |
| Term Duration: | 3 consecutive years |
| Appointment Period: | February 20, 2026 to February 19, 2029 |
| Subject to: | Approval of company members |
Mr. Maheshwari brings over 20 years of experience as a senior partner at Khaitan & Co, specializing in corporate law and bankruptcy. He has received multiple professional recognitions including Private Equity Lawyer of the Year (India, 2021) from International Financial Law Review. He currently serves on the boards of Pradeep Metals Limited, MJIC Consultancy Private Limited, and HubSpot India Private Limited.
Comprehensive Fund Raising Strategy
The board approved raising funds through issuance of up to 25 crore equity shares of ₹2 face value each through multiple permissible modes. The fund raising will support the company's ₹39,000 crore integrated capex plan and ensure compliance with SEBI's 25% public shareholding requirement within three years of its October 3, 2023 IPO.
| Fund Raising Details: | Specifications |
|---|---|
| Maximum Shares: | 25,00,00,000 equity shares |
| Face Value: | ₹2 per share |
| Available Methods: | QIP, Further Public Offer, Rights Issue |
| Purpose: | Multi-year expansion and MPS compliance |
| Required Approvals: | Shareholders, regulatory authorities |
Growth Trajectory and Financial Outlook
JSW Infrastructure is executing a ₹39,000 crore integrated capex plan to scale port capacity from 177 MTPA to 400 MTPA by FY2030. The company maintains strong financial metrics with Net Debt-to-EBITDA at 0.76x and cash & bank balances of ₹3,455 crore as of December 31, 2025. The company expects operating EBITDA to double by FY28 from FY26 levels to reach approximately ₹5,000 crore.
| Financial Metrics: | Current Status |
|---|---|
| Net Debt-to-EBITDA: | 0.76x |
| Cash & Bank Balances: | ₹3,455 crore |
| Target Port Capacity: | 400 MTPA by FY2030 |
| Expected EBITDA (FY28): | ~₹5,000 crore |
Regulatory Compliance and Next Steps
The Finance Committee has been authorized to determine timing, pricing, and terms for the equity issuance. The company will seek member approval through postal ballot for both the director appointment and fund raising proposals. Upon dispatch of the postal ballot notice, the company will intimate stock exchanges and submit the requisite documentation as per SEBI regulations.
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