Bharat Forge Arm Secures ₹300 Crore from Premji Invest; Shares Surge 5%

• Bharat Forge's step-down subsidiary, JS Auto Cast Foundry India, received a ₹300 crore equity investment from Premji Invest.
• Premji Invest acquired a 23% stake in JS Auto Cast through a primary infusion, subject to regulatory approvals.
• The capital will fund JS Auto Cast's growth plans, including capacity expansion, investment in medium casting capabilities, and potential acquisitions.
• JS Auto Cast, a key supplier of ferrous castings, has shown strong performance since its 2022 acquisition by Bharat Forge.
• Bharat Forge shares rose over 5% following the announcement, closing 4.65% higher on Monday.

Why It Matters: Bharat Forge's subsidiary JS Auto Cast secured ₹300 crore from Premji Invest, boosting growth and market position.