Trilegal Advises JSW Infrastructure On ₹75 Billion QIP

Trilegal advised on the qualified institutions placement of equity shares by JSW Infrastructure Limited (“JSW Infrastructure”) aggregating to INR 75 billion.

Trilegal advised the placement agents, which included JM Financial Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited and SBI Capital Markets Limited.

This is the first-ever QIP in India comprising both a fresh issue and an offer for sale. Sajjan Jindal Family Trust participated as the promoter selling shareholder in the offer for sale, enabling JSW Infrastructure to meet the minimum public shareholding requirement while simultaneously raising fresh capital.

JSW Infrastructure is the fastest-growing ports and logistics company in India and the second-largest commercial port operator. Trilegal had also advised on the initial public offering of JSW Infrastructure, continuing its role as trusted counsel to the company on this landmark follow-on capital raise.

The transaction marks a significant milestone in the evolution of India’s capital markets by establishing a new structuring template that enables listed companies to achieve minimum public shareholding compliance while addressing their funding requirements through a single transaction. The QIP also reflects strong investor confidence in India’s macroeconomic growth story and the country’s expanding infrastructure sector.

The proceeds of the QIP are proposed to be used towards funding the capital expenditure requirements of certain subsidiaries for the development of their ongoing projects and the repayment of certain borrowings availed by JSW Infrastructure and its subsidiaries.

The Trilegal Capital Markets team advising on the deal was led by Partners: Richa Choudhary and Maitreya Rajurkar; and comprised Senior Associates Sanya Chaudhari and Shivayana Balodia; and Associates: Dinank Bhanot and Sakshi Nalawade.