Shares of JSW Infrastructure Ltd. rallied 6% to touch a day’s high of Rs 338 on 11th September after the company announced it plans to raise over Rs 5,000 crore through the Qualified Institutional Placement (QIP) route, sources said.

JSW Infrastructure plans to raise funds through the QIP to cover capital expenditures and comply with Minimum Public Shareholding (MPS) requirements.

Currently, the company’s promoters hold an 85.61% stake, but they need to reduce it to 75% or less to meet the MPS norms.

The company stated in an exchange filing that the proposal to raise funds through QIP has not yet been presented to the board, according to sources.

JSW Group has approved a Rs 2,359 crore capital expenditure for expanding capacity at Jaigarh and Dharamtar Ports.

As part of its financial year 2030 growth plan to increase capacity to 400 Million Tonnes Per Annum (MTPA) from the current 170 MTPA, the company’s board has approved a total capacity expansion of 36 MTPA—21 MTPA at Dharamtar and 15 MTPA at Jaigarh.

The stock will be in focus later this month as over 127.5 crore shares, representing 61% of their outstanding equity, will become eligible for trade after the end of their 1-year lock-in period.

At 2:58 PM, the shares of JSW Infra were trading 4.37% higher at Rs 329.80 on NSE.

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