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IndiaRF acquires majority stake in Fine Edge Engineering for Rs.2,000-Cr

Click Here   Economic Times  

IndiaRF has acquired a majority stake in Belagavi-based Fine Edge Engineering for a reported Rs.2,000-Cr. Investec acted as the exclusive financial advisor to the promoters of Fine Edge Engineering for the transaction.Fine Edge Engineering, promoted by Jayant Humbarwadi of Ashok Iron Works, manufactures critical components, including engine blocks, engine heads, and transmission housings, for various automotive and industrial applications. The company operates four foundries located in Karnataka and has a customer base that includes global generator-set manufacturers and farm equipment producers.The company plans to use the investment to support its growth through capacity expansion, research and development, and new product development. The firm currently generates EBITDA of up to Rs.350-Cr.