New Delhi, Feb 2: JS Auto Cast Foundry India Private Limited 100% wholly owned step- down subsidiary of Bharat Forge Limited and a leading supplier of critical ferrous castings for industrial and automotive applications, has successfully raised equity of Rs. 300 crores from Premji Invest (PI) by way of primary infusion into the company. PI will hold 23% stake on a fully diluted basis post the infusion.
The capital will be utilized to accelerate the growth of JSA by expanding its casting capacity, investing in medium casting capacity and consolidation of the industry via acquisitions.
Commenting on this partnership, AmitKalyani,ViceChairman&JointManagingDirector,BharatForgesaid,
“Since 2022 when we acquired JSA, the company has delivered excellent financial performance with topline, exports and profitability growing at a CAGR of 17%, 24% and 25% respectively, while enhancing its product mix and customer base. We are delighted to partner with Premji Invest (PI), a renowned and highly respected investor, in the next phase of JSA’s growth journey”
Manoj Jaiswal, Partner at Premji Invest, who leads the firm’s Industrials and Buyout investments, said:
“We are excited to partner with Bharat Forge, a premier engineering and manufacturing conglomerate in the country. Collaborating with leading conglomerates on their growth and consolidation journey is one of our strategic pillars. Through our investment in JSA, we look forward to jointly building a leading ferrous casting platform in the country.”
