Sajjan Jindal to acquire 50% stake in PNP Maritime Services

Steel tycoon Sajjan Jindal will acquire a 50% stake in PNP Maritime Services, which operates the only minor port in Maharashtra, from the Shapoorji Pallonji (SP) Group for Rs 270 crore. The remaining 50% will continue to be held by original promoter Nrupal Jayant Patil, son of politician Jayant Patil. The acquisition values PNP at an enterprise value of Rs 700 crore and will augment Jindal's newly listed JSW Infrastructure's cargo handling capacity. On Monday, shares of JSW Infrastructure closed at Rs 218.

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