JS Auto Cast Foundry India receives Rs 300-crore equity infusion from Premji Invest

Post-fund infusion, as part of the deal, Premji Invest will hold a 23 per cent stake on a fully diluted basis in the company, which is a supplier of critical ferrous castings for industrial and automotive applications, JSA said.

Bharat Forge wholly-owned step-down subsidiary JS Auto Cast Foundry India (JSA) has received Rs 300-crore equity infusion from the Family Office of Azim Premji, Premji Invest, for capacity expansion and acquisitions. Post-fund infusion, as part of the deal, Premji Invest will hold a 23 per cent stake on a fully diluted basis in the company, which is a supplier of critical ferrous castings for industrial and automotive applications, JSA said. ''JSA has successfully raised equity of Rs 300 crores from Premji Invest (PI) by way of primary infusion into the company. PI will hold 23 per cent stake on a fully diluted basis post the infusion. The capital will be utilised to accelerate the growth of JSA by expanding its casting capacity, investing in medium casting capacity and consolidation of the industry via acquisitions,'' the company said. ''We have partnered with Premji Invest (PI), a renowned and highly respected investor, in the next phase of JSA's growth journey,'' said Amit Kalyani, Vice Chairman & Joint Managing Director, Bharat Forge, said. He said since 2022, when Bharat Forge Ltd 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. ''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,'' said Manoj Jaiswal, Partner, Premji Invest, who leads the firm's Industrials and Buyout investments.

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