Pune, India, Feb 03: JS Auto Cast Foundry India Private Limited (JSA), a 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) through a primary infusion into the company. Post the infusion, Premji Invest will hold a 23% stake in JSA on a fully diluted basis.

The capital will be utilised to accelerate JSA’s growth by expanding its casting capacity, investing in medium casting capabilities, and consolidating the industry through strategic acquisitions.

Commenting on the partnership, Amit Kalyani, Vice Chairman & Joint Managing Director, Bharat Forge, said:

“Since acquiring JSA in 2022, the company has delivered excellent financial performance, with topline, exports and profitability growing at a CAGR of 17%, 24% and 25% respectively, while also enhancing its product mix and customer base. We are delighted to partner with Premji Invest, a renowned and highly respected investor, in the next phase of JSA’s growth journey.”

Manoj Jaiswal, Partner, 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.”

The completion of the transaction is subject to customary conditions. PwC Investment Banking acted as the sole financial advisor to Bharat Forge Limited.