Saraf and Partners advises on JTEKT India ~₹250 crore rights issue

Saraf and Partners has advised on the issue of 2,31,16,407 fully paid-up equity shares aggregating to ₹249.8884 crore by JTEKT India Limited.

The transaction team was led by Mathew Thomas (Partner).

JTEKT India is a global manufacturer of automotive components such as high performance steering systems, bearings, drivelines and electronic accessories.

The promoters of the Company, namely, JTEKT Corporation, JTEKT Column Systems Corporation and Maruti Suzuki India Limited subscribed 100% to their rights entitlement. The proceeds from the Issue will be used towards funding for construction of infrastructure for setting up a production facility in Gujarat, capital expenditure towards purchase of equipment and machinery for the Dharuhera, Haryana plant and repayment of certain borrowings.

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