JS Auto Cast Foundry India Private Limited, a subsidiary of Bharat Forge Limited, has raised ₹300 crore in equity from Premji Invest through a primary infusion, the company said on Monday. Following the transaction, Premji Invest will hold a 23 per cent stake in JS Auto Cast on a fully diluted basis.
The investment is subject to the fulfilment of customary conditions. Funds will be used to support capacity expansion and acquisitions.
JS Auto Cast plans to use the capital to expand its casting capacity, invest in medium casting facilities and pursue acquisitions as part of industry consolidation, the company said.
Bharat Forge acquired JS Auto Cast in 2022. Commenting on the investment, Amit Kalyani, Vice-Chairman and Joint Managing Director of Bharat Forge, said, “Since 2022 when we acquired JSA, the company has delivered excellent financial performance with topline, exports and profitability growing at a CAGR of 17 per cent, 24 per cent and 25 per cent respectively, while enhancing its product mix and customer base.”
Manoj Jaiswal, Partner at Premji Invest, said the firm was looking to collaborate with Indian manufacturing companies on expansion and consolidation.
“Through our investment in JSA, we look forward to jointly building a leading ferrous casting platform in the country,” he said.
PWC Investment Banking acted as the sole financial adviser to Bharat Forge on the transaction.
