JSW Infrastructure has secured a significant regulatory milestone with the Ministry of Railways granting no objection for the proposed acquisition of three rail logistics subsidiaries. The approval, received on January 15, 2026, marks a crucial step forward in the company's strategic expansion plans within the rail logistics sector.

Ministry of Railways Grants Approval

The Government of India, Ministry of Railways conveyed its no objection through letter reference No. 2025/TC(FM)/04/46 dated January 14, 2026. The approval specifically covers the change in shareholding pattern of three key entities in favour of JSW Port Logistics Private Limited (JSWPLPL), a wholly owned subsidiary of JSW Infrastructure.

Target Companies and Transaction Structure

The acquisition involves three rail logistics companies currently owned by JSW Shipping & Logistics Private Limited (JSWSLPL). JSW Port Logistics Private Limited will acquire 100% equity stake in each of these entities, as outlined in the Share Purchase Agreement executed in December 2025.

The target companies include:

• JSW Rail Infra Logistics Private Limited - Focused on rail infrastructure logistics
• JSW Minerals Rail Logistics Private Limited - Specializing in minerals transportation
• JSW (South) Rail Logistics Private Limited - Covering southern region rail logistics operations

Regulatory Compliance and Next Steps

The Ministry of Railways approval addresses one of the key conditions precedent outlined in the Share Purchase Agreement. However, the transaction completion remains subject to additional requirements that must be fulfilled before the acquisition can be finalized.

The company stated that the acquisition will be completed upon receipt of requisite approvals from the members of JSW Infrastructure and fulfillment of other conditions precedent as set out in the Share Purchase Agreement.

Strategic Significance

This development represents JSW Infrastructure's continued focus on expanding its logistics capabilities across the transportation value chain. The acquisition of these three rail logistics entities will strengthen the company's position in the integrated logistics sector, complementing its existing port and infrastructure operations.

The regulatory approval demonstrates the government's support for consolidation within the logistics sector, particularly in rail transportation infrastructure. With the Ministry of Railways clearance secured, JSW Infrastructure can now proceed with obtaining the remaining approvals required to complete this strategic transaction.

HSBC has upgraded JSW Infrastructure 's rating to hold and raised the target price to ₹280.00, signaling an improved outlook for the infrastructure company.

Rating Upgrade Details

The global brokerage firm has revised its stance on JSW Infrastructure, moving the rating to hold from its previous recommendation. This upgrade reflects HSBC's enhanced confidence in the company's business fundamentals and market positioning.

Target Price Revision

HSBC has set a target price of ₹280.00 for JSW Infrastructure shares. This price target represents the brokerage's assessment of the stock's fair value based on current market conditions and the company's business prospects.

The rating upgrade and target price revision indicate HSBC's positive view on JSW Infrastructure's operational performance and growth potential in the infrastructure sector. This development provides investors with updated guidance on the stock's investment merit according to HSBC's analysis.