India, Sept. 12 -- JBM Auto Ltd.'s share price surged to its highest in nearly three months after garnering investment from World Bank's investment arm.

On Friday, the stock of the electric bus maker rose as much as 11.38% to Rs.696.70 apiece even as the benchmark BSE Sensex gained 400 nearly points.

On Thursday, International Finance Corp. announced that it has committed to invest $137 million to JBM Group to promote e-mobility in the country. Of this, $100 million will go to JBM Ecolife and the rest to GreenCell Mobility sponsored by Eversource Capital.

These investments, according to IFC, "will help to electrify public transport and enhance access to innovative urban mobility solutions".

It will help create 12,000 jobs and deploy 4...