Now Reading: Bain Capital may invest $300 crore in JBM Auto’s EV business
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Bain Capital may invest $300 crore in JBM Auto’s EV business
Bain Capital is in advanced talks to invest up to $300 crore in JBM Auto's electric vehicle arm, seeking a 'significant minority' or joint-control stake. JBM Auto, one of India's largest e-bus…
Bain Capital is in advanced talks to invest up to $300 crore in JBM Auto's electric vehicle arm, seeking a 'significant minority' or joint-control stake. JBM Auto, one of India's largest e-bus manufacturers, expects its EV business to contribute 45% of its revenue by FY27.
The deal would value the EV unit substantially above JBM Auto's current market capitalisation. Bain's proposed cheque underscores the growing investor appetite for India's commercial EV segment, where state-run tender wins have given companies like JBM a multi-year order pipeline.
JBM Auto's board is expected to consider the proposal at its next meeting. A formal term sheet is yet to be signed, but people familiar with the matter said Bain is conducting due diligence currently.
Indian Opinion Analysis
The bet underscores how private equity is chasing India's EV pivot, which the government has backed with production-linked incentives and state tender mandates. Bain's entry could trigger a valuation re-rating for JBM Auto's traditional auto-components business, the parent company currently trades at a multiple that does not reflect its EV arm's growth trajectory. The ₹25,000-crore e-bus market is dominated by Olectra and PMI, but JBM's manufacturing heft and order book from state transport utilities give it an edge. Watch for the definitive agreement timeline: Bain typically moves from term sheet to close within 90 days, and any delay would signal roadblocks over governance or pricing.
Source: auto.economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
