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JS Auto Cast Foundry India Pvt. Ltd (JSA), 100% wholly owned stepdown subsidiary of Bharat Forge and a leading supplier of critical ferrous castings for industrial and automotive applications, has successfully raised equity of Rs. 300 crores from Premji Invest (PI) by way of primary infusion into the company. 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.
At 3.00 pm, Bharat Forge was trading at Rs. 1,435.60, up by 4.27%, with a volume of 0.11 lakh shares on the BSE.
JS Auto Cast, a Bharat Forge subsidiary, secures Rs 300 Crores investment from Premji Invest
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