The Board of Directors of JSW Infrastructure Limited has approved two major resolutions during its meeting on February 20, 2026. Firstly, they approved an enabling resolution for raising funds through the issuance of up to 25 crore Equity Shares. Secondly, they appointed Mr. Kartick Maheshwari as a Non-Executive, Independent Director for a term of three years. The equity raise aims to support the company’s multi-year expansion plan and achieve the Minimum Public Shareholding (MPS) requirement.
Key Board Decisions of February 20, 2026
JSW Infrastructure Limited announced significant outcomes following its Board meeting held on February 20, 2026. The primary approvals covered organizational structure changes and a crucial funding strategy to support future growth initiatives.
Appointment of New Independent Director
The Board approved the appointment of Mr. Kartick Maheshwari (DIN: 07969734) as an Additional Director, designated as an Independent Director. This appointment is necessitated as the second term of the existing Independent Director, Mr. Amitabh Kumar Sharma, is set to conclude on March 27, 2026.
Mr. Maheshwari’s term is set for three (3) consecutive years, commencing on February 20, 2026, and concluding on February 19, 2029, subject to shareholder approval.
Profile Snapshot: Mr. Kartick Maheshwari
- He is a senior partner at Khaitan & Co. with over 20 years of experience, specializing in corporate law and bankruptcy.
- His advisory focus includes financial sponsors, sovereign wealth funds, joint ventures, growth equity, and restructuring across sectors like infrastructure and technology.
- Previously, he practiced at the US law firm White & Case before joining Khaitan & Co. in 2014.
- He currently serves on the boards of Pradeep Metals Limited (a listed company) and HubSpot India Private Limited.
- There were no disclosures regarding relationships with other directors upon his appointment.
Equity Raise Framework Approved
The Board authorized raising funds by issuing up to 25,00,00,000 (Twenty-Five Crore) Equity Shares of face value of ₹2/- each. This issuance will be done through permissible modes, including Qualified Institutional Placement, Further Public Offer, or Rights Issue, pending necessary regulatory and shareholder approvals.
This capital infusion is intended to support the Company’s multi-year expansion program and ensure compliance with the mandated SEBI Minimum Public Shareholding (MPS) requirement, which must be met within three years of the IPO on October 3, 2023.
Growth Trajectory and Capex Plan
The fund-raise underpins an integrated ₹39,000-crore capex plan across ports and logistics. This plan targets scaling port capacity from the current 177 MTPA to 400 MTPA by FY2030.
The company noted its robust financial health as of December 31, 2025, reporting a Net Debt-to-EBITDA ratio of just 0.76x and Cash & Bank Balances of ₹3,455 crore. Operating EBITDA is expected to double by FY28 (from FY26) to reach approximately ₹5,000.
Meeting Conclusion
The Board meeting commenced at 2:00 p.m. (IST) and concluded at 3:45 p.m. (IST) on the day of the announcement.
Source: BSE
