JM Financial India Fund, a $ 200 mn corporate private equity fund promoted by JM Financial Limited and Old Lane Partners LP will invest Rs.120 crores in the Sona Group. The investors have an option to invest another Rs.40 crores at a later stage. The investments include that in Sona Group companies including Sona Koyo Steering Systems Limited, Sona Okegawa Precision Forging Private Limited and other Sona Group Companies in the auto-ancillary space.
The Sona Group is an auto ancillary manufacturer with a diversified product range and enjoys industry leadership position in steering systems and precision forged gears. The investment by JM Financial will be used to expand capacities in the Sona Group’s subsidiary companies to meet domestic and export demand as well as for potential acquisitions.
Read the press release on Moneycontrol.com.
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