JSW Port Logistics Private Limited made an offer to acquire 26% stake in Navkar Corporation Limited (NSEI:NAVKARCORP) for INR 4.1 billion on June 27, 2024. JSW will acquire 39.1 million shares for INR 105.32. The open offer was triggered due to JSW acquiring approximately 70.37% under a Share Purchase Agreement.

The transaction is subject to regulatory approval but is not subject to any minimum level of acceptance. JSW does not intend to delist Navkar pursuant to this Open Offer. JM Financial Limited acted as manager to the offer for JSW Port Logistics Private Limited.