JS Auto Cast Foundry India Private Limited (JSA), a 100 per cent wholly owned step-down subsidiary of Bharat Forge Limited, has raised equity of Rs 3.0 billion from Premji Invest (PI) through a primary infusion. Following the transaction, PI will hold a 23 per cent stake in JSA on a fully diluted basis.

The capital will be deployed to accelerate JSA’s growth plans, including expansion of casting capacity, investments in medium casting capabilities and consolidation of the sector through acquisitions. JSA is a leading supplier of critical ferrous castings for industrial and automotive applications.

Amit Kalyani, Vice Chairman & Joint Managing Director, 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. 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, 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.