Bharat Forge's Subsidiary JS Auto Cast Secures Rs 300 Crores Investment from Premji Invest

JS Auto Cast Foundry India Private Limited (JSA), a 100% wholly owned step-down subsidiary of Bharat Forge Limited, has successfully raised equity of Rs. 300 crores from Premji Invest. 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. Since 2022, JSA has delivered excellent financial performance with topline, exports and profitability growing at a CAGR of 17%, 24% and 25% respectively. The completion of the transaction is subject to customary satisfaction of various conditions.