Asia Motor Works Limited is planning to raise $100 Mn for expansion through a mix of debt and equity.

According to ET, the funds will enable the company to build capacity to make new cabs, next generation trucks and expand manufacturing. The truck maker proposes to produce cabins locally, which were so far imported and assembled.

Asia Motor Works has recently acquired FamilyCredit Limited in an all cash deal. FamilyCredit was a wholly-owned subsidiary of Societe Generale Consumer Finance, a division of the Specialised Financial Services of Societe Generale Group, France. It offers auto loans, two wheeler loans and loyalty loans.

Founded by Anirudh Bhuwalka in 2002, Asia Motorworks manufactures commercial vehicles, auto components, fully built vehicles and forged components. It has a manufacturing facility of Asia Motorworks is located in Bhuj, Gujarat. The capacity for commercial vehicles is 50,000 annually.

It recently acquired a forging unit in Mysore in Southern India, which produces axles and other forged components. Asia Motorworks also manufactures components for the automotive and general engineering industries.

It’s capacity of 15 million wheel rims makes it the largest single location plant in Asia and the company supplies pressed metal components to some of the world’s most renowned auto and white goods manufacturers. AMW has a network of over 60 touch points across India.

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