Bharat Forge Secures Strategic Investment in JS Auto, Investor Acquires 23% Stake
New Delhi: Bharat Forge Limited announced that its step-down wholly owned subsidiary, J S Auto Cast Foundry India Private Limited, has successfully completed a strategic investment transaction with PI Opportunities Fund I Scheme II (“Investor”).
Under the agreement, JS Auto issued:
-
1 Equity Share at an issue price of Rs. 2,104.09 per share (including a premium of Rs. 2,094.09), and
-
14,25,794 0.001% Non-Cumulative Compulsorily Convertible Preference Shares (CCPS) at Rs. 2,104.09 per share (including a premium of Rs. 2,004.09).
The total consideration amounted to Rs. 3,000,001,001.55 (approximately ₹300 crore), resulting in the Investor acquiring a 23% stake in JS Auto on a fully diluted basis. Following this investment, JS Auto’s status has changed from a step-down wholly owned subsidiary to a step-down subsidiary of Bharat Forge.
“This strategic partnership will strengthen JS Auto’s growth trajectory and provide enhanced opportunities for innovation and value creation within Bharat Forge’s industrial ecosystem,” said Tejaswini Chaudhari.
The transaction reflects Bharat Forge’s commitment to expanding its footprint in the automotive and industrial supply chain sector while optimizing its subsidiary structure for strategic growth.