<cite index="38-2">India Resurgence Fund (IndiaRF) acquired Fine Edge Engineering Private Limited in a transaction valued at around ₹2,000 crore</cite>, <b>establishing control over Ashok Iron Works' foundry and precision machining business.</b>

PE / VC Aug 2026· ₹2,000 cr · Completed· ✓ Verified

Founded in 1974, Ashok Iron Works is based in Belagavi, Karnataka, and manufactures machined iron castings used in industrial engines, agricultural equipment, and automobiles, operating four foundries with a combined capacity of 1,44,000 metric tonnes per annum (MTPA) and seven machine shops that can produce around 600,000 parts annually. Investec acted as the exclusive sell-side adviser to the Ashok Iron Works Group and its shareholders for the transaction. The transaction reinforces strong investor interest in India's precision machined castings sector, supported by growing demand for high-horsepower engine applications, particularly from the global data centre build-out.

Why it mattersPE acquisition of India's largest precision machined-castings manufacturer signals institutional consolidation in high-horsepower engine-block supply for global data-centre infrastructure, marking a rare control entry into family-held foundry engineering with focus on automation and scale.
CounselJ. Sagar Associates (JSA), Investec
SectorIndustrials
Value₹2,000 cr
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