Piramal Enterprises Limited
through its subsidiary Piramal Finance Limited has financed RSB Group to the
extent of Rs. 275 crore and Indoshell Mould Limited to the extent of Rs. 290
crore. The investments were made through the Corporate Finance Group (CFG),
erstwhile Structured Finance Group, of Piramal Finance Limited.
RSB manufactures auto
engineering products such as propeller shafts, gears, axles & machined
products for engine components and construction equipment aggregates. The
company has strong domestic presence with 11 manufacturing facilities spread
across major auto clusters and caters to all the major OEMs in the commercial
vehicles, passenger cars, construction and farm equipment.
Indo Shell is a two-wheeler
focussed precision cast supplier and has a well-diversified customer base. The
company has been consistent in producing high quality engine cylinder blocks at
competitive costs and consequently enjoys a healthy order book from marque
Khushru Jijina, Managing
Director, Piramal Finance Limited, said “The auto component space has been on
our radar as a focus area for a while now. As is standard practise across our
platform, we committed to an in depth study of the sector over the past few
quarters which, has culminated in announcing these first two transactions. The
industry has grown at a 15% CAGR over the last decade, which is significantly
higher than the OEMs themselves. Both RSB and Indoshell have long standing
relationships with major OEMs and command higher wallet share of their
respective customer set. We look forward to more such transactions as we
further scale up our investment focus towards this sector.”
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