This is the seventh
investment from Aavishkaar Capital’s USD 220 Million “Global Supply Chain
Support Fund”
Global Supply Chain Support
Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company
and a global pioneer in taking an entrepreneurship-based approach to scaling
businesses for impact, and set up in partnership with KfW, a German state-owned
development bank, announced their seventh investment of INR 43 Crores (5
Million USD) from the Global Supply Chain Support Fund into POSHS Metal Industries Private Limited
(Poshs), specializes in the processing of auto-grade flat steel.
Global Supply Chain Support
Fund is a USD 220 Mn fund from Aavishkaar Capital, focused on investing in Asia
and Africa with the mandate of supporting SMEs operating in global supply
chains and committed to producing their products and services in an
environmentally sustainable and socially inclusive manner. The Fund seeks to
deliver commercially viable financial returns alongside positive social impact.
Set up in 1998 by Mr. Ashok
Kapoor, Poshs Metal Limited (Poshs Group) specializes in auto grade steel
processing in the Western India. Poshs Group caters to some of the top MNCs in
the automotive sector. POSHS Metal Industries is an exclusive and authorized
steel processing and distribution
partner for Tata Steel in Western India, with a relationship spanning 25 years.
Commenting on the
investment, Asheer Kapoor, Promoter
& Director, Poshs Metal, said, “This funding marks a crucial step in
our growth journey as we expand our footprint in Aurangabad. The enhanced
production capacity will allow us to serve our customers more efficiently while
reinforcing our commitment to innovation and quality. The support from our
investors reflects their confidence in our vision, and we look forward to
accelerating our expansion plans.”
Abhishek
Mittal, Partner-Credit, Global Supply Chain Support Fund, Aavishkaar Capital,
said, “We are excited to invest in Poshs Metal Industries and support their
next phase of growth through a state of the art processing facility in
Aurangabad to further establish themselves as a leading value-added steel
processing business for Western India. The Indian auto sector is expected to see
a mix of opportunities and challenges with the advent of electric vehicles,
sustainable mobility and technological advancements, while also facing
increasing competition, global headwinds and rising costs. The company’s strong
focus on Environmental, Social, and Governance (ESG) practices through minimum
wastage and efficient logistics and a customer-centric approach to deliver
quality products on time at a competitive price would be their key success
driver going forward. Through the Global Supply Chain Support Fund, Aavishkaar
Capital is proud to partner with POSHS Group, and look forward to empowering
more such businesses with non-dilutive and flexible financial solutions that
are better aligned with their growth ambitions.”
Stephanie Lindemann-Kohrs, Global Head of Equity and Funds, KfW Development Bank, said, “The primary aim of KfW’s investment into the Global Supply Chain Support Fund on behalf of the German Government is to enhance environmental and social standards in companies that are integrated into European supply chains. With an increasing requirement for reduction in carbon footprint and improved labor conditions in automotive manufacturing, it is imperative to uphold fair labor practices and high environmental standards. The investment procedure of the fund adheres to rigorous environmental and social due diligence, thereby setting elevated standards for its investees.
