Mumbai, Feb. 2 -- Premji Invest is set to pick up a 23% stake in JS Auto Cast Foundry India Pvt. Ltd, a unit of Bharat Forge, for Rs.300 crore, as per stock exchange disclosures made by the Baba Kalyani-backed firm. The transaction is likely to be completed by 31 March 2026, it said.

JS Auto, a fully-owned step-down subsidiary of Bharat Forge, supplies ferrous castings for industrial and automotive applications.

The investment will be made through infusion of primary capital into the company, the filing said. JS Auto will use the capital to invest in medium casting capacity and to look for acquisition opportunities in the industry.

As per the transaction terms, Premji Invest will be under a non-compete clause and will not be able to en...