JSW Steel Limited (BSE:500228) has deferred a private equity infusion into its ports arm as the deal to acquire APM Terminals' stake in the Gujarat Pipavav Port Limited (BSE:533248) in Gujarat has been delayed, top officials have said. JSW Ports will instead be looking at a pre-IPO placement from private equity funds in early 2020 and will go for a listing immediately afterwards. “Right now, I think we have deferred it,” the Group Chairman, Sajjan Kumar Jindal, told PTI, when asked about the progress on private equity infusion.

The Chief Executive and Joint Managing Director of JSW Infrastructure Limited, the holding company of JSW Ports, B.V.J.K. Sharma concurred on the deferment of private equity infusion, stating that it was planned keeping the Pipavav acquisition in mind. “We were looking at Pipavav acquisition and they have deferred it now. When there is no need, things get deferred,” Sharma told PTI.