JM Financial Private Equity has invested $4.8M (INR 40Cr.) in Modish Tractoraurkisan (Balwaan Krishi), an agri machines and tool brand in India.
The investment aims to drive Balwaan’s brand-building initiatives, enhance marketing efforts, support working capital needs and the distribution network, ensuring the company’s continued growth and leadership in the farm equipment industry.
Established in 2015 by Rohit Bajaj and Shubham Bajaj, Balwaan is transforming the agricultural landscape of India by providing affordable, small-farm equipment’s to farmers through an omni-channel presence and solving the critical industry challenges of pre-sales advisory, post-sales training, after sales service and spares support to farmers.
Darius Pandole, MD & CEO, Private Equity & Equity AIFs, JM Financial commented on the investment, “India has been experiencing a steady decline in the average size of farm landholdings, along with increasing labor scarcity and rising labor costs. As a result, the industry is seeing a rise in small farm tools, driven by increasing farmer awareness enabled by internet penetration. Backed by futuristic outlook of the two young and third generation entrepreneurs, Balwaan aims to become a leading farm equipment brand in the country.”
Rohit Bajaj, Founder of Modish Tractoraurkisan expressed his thoughts about capital raise stating, “At Balwaan, enhancing farmers’ productivity and cutting their operational costs is at the core of our mission. The capital infusion and partnership with JM Financial Private Equity will accelerate our current and long-term expansion plans. In line with Balwaan Krishi’s vision, we aim to integrate innovative technology, expand our reach to a pan-India level, and help farmers reduce operational costs through the adoption of farm machinery over the next few years.”
The PE firm will make the investment from the Fund III, JM Financial India Growth Fund III, and is in line with its stated strategy to invest in growth-oriented companies in the mid-market space.
