The Hindu Business Line : JM Financial India Fund to invest Rs 120 cr in Sona Group

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Mumbai Feb. 6 JM Financial India Fund will invest Rs 120 crore in the Sona Group (with an option to invest another Rs 40 crore at a later stage), through a holding company owning investments in Sona group companies including Sona Koyo Steering Systems Ltd, Sona Okegawa Precision Forging Pvt Ltd and other Sona companies in the auto-ancillary space.

The Sona Group has technology and joint venture tie-ups with JTEKT Corporation (formerly Koyo Seiko Co Ltd) and Mitsubishi Materials Corporation.

"Global OEMs and Tier-1 companies are increasingly outsourcing critical components and processes to India for cost benefits.

"The Sona Group, with its reputed technology partners, internationally diversified customer base and a strong management team is well poised to take advantage of this outsourcing opportunity.

"Our investment will be used to scale up capacities to global levels, with an aim to consolidate their market leadership position," said Mr Dilip Kothari, Managing Director of JM Financial India Fund.

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JM Financial India Fund to invest Rs 120 cr in Sona Group