JM Financial India Fund, a USD 200 million (about Rs 9,000 million) private equity fund sponsored by JM Financial and Old Lane Partners, has decided to make two new investments, reports Business Standard.
The fund has invested Rs 1,200 million in an auto-ancillary company Sona group (with an option to invest another Rs 400 million at a later stage) and Rs 1,250 million in international tractors, a leading domestic tractor, farm equipment machinery and multi-utility vehicle maker.
The fund had, earlier, invested Rs 270 million (with an option of additional investment of Rs 450 million) in lifestyle company Genesis Colors. The fund has, till date, invested in three companies.
The investment in Sona group will be made through a holding company that owns investments in its group companies, including Sona Koyo Steering Systems, Sona Okegawa Precision Forging and other group companies in the auto-ancillary space.
Shares of the company closed at Rs 900.30. Total volume of shares traded at the BSE was 23,573. (Wednesday).