JS Auto Cast Foundry India Private Limited (JSA), a 100 per cent wholly owned step-down subsidiary of Bharat Forge Limited and a leading supplier of critical ferrous castings for industrial and automotive applications, has raised equity of Rs 3 billion from Premji Invest (PI) through a primary infusion. PI will hold a 23 per cent stake on a fully diluted basis post the infusion.

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

Commenting on the partnership, Amit Kalyani, Vice Chairman & Joint Managing Director, Bharat Forge, said, “Since 2022, when we acquired JSA, the company has delivered strong 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. We are pleased to partner with Premji Invest, a 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. Collaborating with leading conglomerates on their growth and consolidation journey is a key strategic pillar. Through our investment in JSA, we aim to build a leading ferrous casting platform in the country.”

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