M&A
JSW Group acquires majority stake in off-road vehicle co Gecko Motors
The JSW Group, via JSW Defence and Aerospace, has acquired a majority stake in a Punjab-based extreme off-road vehicle company Gecko Motors Pvt Ltd . The target company has been renamed as JSW Gecko Motors Pvt Ltd (JSW Gecko).Gecko, promoted and led by Jaskirat Singh Nagra, has secured an order worth INR 250 crore from the defence ministry for the manufacture and supply of 96 Specialist Mobility Vehicles branded as ATOR N1200.The vehicles are being manufactured at JSW Gecko's newly set-up manufacturing unit in Chandigarh and will be supplied to the Armed Forces by June 2024.
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