IFC is planning to invest $20 Mn in Kolkata based Ramkrishna Forgings Limited for expansion activities.
The company is planning to install new Front Axle Beam manufacturing line in Jamshedpur requiring a capital expenditure of approximately $97 Mn.
Founded in 1981 by Mahabir Prasad Jalan, Ramkrishna Forgings manufactures forged and machined Transmission and axle components for medium and heavy commercial vehicles. It caters to the automobile, railway, defence and mining sectors.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.