JSW Infrastructure Ltd has announced that its subsidiary, JSW Port Logistics Pvt Ltd, has signed a share purchase agreement to acquire three rail logistics companies from JSW Shipping & Logistics Pvt Ltd for an enterprise value of ₹1,212 crore.
The acquisition covers JSW Rail Infra Logistics, JSW Minerals Rail Logistics and JSW (South) Rail Logistics, and will proceed after shareholder and regulatory approvals.
Once completed, the companies will become step-down subsidiaries of JSW Infrastructure.
The acquisition provides immediate access to Indian Railways’ General Purpose Wagon Investment Scheme (GPWIS) and Liberalised Special Freight Train Operator (LSFTO) scheme. As of 30 November, the acquired entities operate 21 rakes, with four more under delivery.
According to the company, the rake operator model offers revenue through Indian Railways rebates and market premiums. Indian Railways’ moratorium on new GPWIS licences, extended until February 2027, continues to limit new entrants.
The firms hold long-term transport contracts of up to 10 years with customers including JSW Steel and Bhushan Power and Steel Ltd. The business is projected to generate annualised EBITDA of ₹150 crore by FY27.
Expansion strategy and sector outlook
JSW Infrastructure said the deal supports its plan to build an end-to-end multimodal logistics platform and follows its acquisition of Navkar Corporation in October 2024. The company plans to scale its rake fleet from 25 after the acquisition to 45 by FY27 and 110 by FY30.
The Ministry of Railways projects national freight volumes to rise from 1.6 billion tonnes in FY25 to 3 billion tonnes by FY30, with rail’s share of freight movement targeted to increase from 27 per cent to 45 per cent.
