JBM Auto Shares Surge 4% After $100 Million IFC Investment in Electric Buses, ETAuto

The IFC investment will support the deployment of 1,455 air-conditioned electric buses across Maharashtra, Assam and Gujarat. Shares of JBM Auto Ltd rose over 4 per cent on Monday to hit an intraday high of ₹741 on the BSE, extending gains for a second straight session, as per ETMarkets report. The rally comes on the back of a $100 million investment by the International Finance Corporation (IFC), part of the World Bank Group, in the company’s electric bus arm JBM Ecolife Mobility.

The stock had surged nearly 14 per cent on Friday following the announcement, taking its one-week gain to 18.5 per cent. Despite the uptrend, it remains below its 52-week high of ₹1,047.50.

The IFC investment will support the deployment of 1,455 air-conditioned electric buses across Maharashtra, Assam and Gujarat. In Maharashtra and Assam, the project will also incorporate a formal payment security mechanism under the Pradhan Mantri e-bus Sewa Scheme, aimed at reducing payment risks for state and municipal transport bodies.

The deal represents IFC’s first direct equity investment in Asia’s electric bus sector and its largest globally, underscoring India’s growing role in the transition to clean mobility.

JBM Ecolife has already deployed more than 2,500 e-buses across 10 states and 15 airports. Its Delhi-NCR facility, one of the largest integrated e-bus manufacturing plants outside China, has an annual production capacity of 20,000 units. Since 2018, the company’s buses have collectively clocked over 200 million kilometres.

• Published On Sep 15, 2025 at 11:25 AM IST

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