JBM Auto shares surge 7% on $100-million IFC funding for electric bus rollout

JBM Shares Today: JBM Auto’s shares jumped more than 7 per cent in morning trade on Friday after the company said it had secured $100 million in long-term funding from the International Finance Corporation to roll out electric buses in Maharashtra, Assam and Gujarat.

The Delhi-based maker of auto components and e-buses called the deal a milestone. IFC, part of the World Bank Group, described it as its first capital investment in Asia’s e-bus sector and its largest globally, signalling a bigger push into sustainable transport.

“This strengthens urban transport resilience across Indian cities,” JBM said in a statement. Vice-chairman and managing director Nishant Arya added the tie-up would speed up deployments and open the door to more partnerships. The company has more than 11,000 buses deployed or under execution, has clocked over 200 million electric kilometres and served a billion passengers, he said.

The group had an order book of Rs 12,900 crore at the end of August, including 2,411 buses under the government’s PM e-Bus Sewa programme. Central schemes such as PM e-Bus Sewa and PM E-Drive target more than 52,000 electric buses on the road by 2030, with a longer-term plan for 100,000 under the Bharat Urban Megabus Mission.

IFC managing director Makhtar Diop said in a separate statement that “e-mobility is the future” and India’s transition is shaping how cities worldwide finance the next generation of transport.

Buses account for about three-quarters of public transport journeys in India, making the segment a huge electrification opportunity. Analysts said the IFC deal not only gives JBM fresh capital but also signals international confidence in India’s green-mobility plans.