Staff Writer
Pune: Bharat Forge Limited has strengthened the growth runway of its ferrous casting business after JS Auto Cast Foundry India Private Limited, its wholly owned step-down subsidiary, secured a Rs 300 crore equity investment from Premji Invest.
The primary infusion gives Premji Invest a 23 percent stake in JS Auto Cast on a fully diluted basis and marks a significant endorsement of Bharat Forge’s strategy to scale its casting operations amid rising demand from automotive and industrial customers.
JS Auto Cast, a key supplier of critical ferrous castings, plans to deploy the fresh capital to expand overall casting capacity, build capabilities in medium castings and pursue consolidation opportunities through acquisitions. The investment is expected to accelerate the company’s next phase of growth while strengthening its competitive position in a fragmented industry.
Bharat Forge Vice Chairman and Joint Managing Director Amit Kalyani said the partnership comes at a time when JS Auto Cast has delivered strong operational and financial performance since its acquisition in 2022. He noted that the company has recorded compounded annual growth of 17 percent in revenue, 24 percent in exports and 25 percent in profitability, alongside improvements in product mix and customer diversification. Partnering with Premji Invest, he said, would support JS Auto Cast’s long-term growth ambitions.
Premji Invest said the investment aligns with its focus on collaborating with established manufacturing groups on expansion and consolidation opportunities. Manoj Jaiswal, Partner at Premji Invest, said the firm looks forward to working with Bharat Forge to build a scaled and leading ferrous casting platform in India.
The transaction remains subject to customary regulatory and closing conditions. PwC Investment Banking acted as the sole financial advisor to Bharat Forge on the deal.
