JBM Auto shares soar 11% on IFC's $100 million funding for e-bus push

Shares of JBM Auto Ltd surged 10.84 per cent in Friday's trade to hit a high of Rs 693.35 after the electric bus maker secured a $100 million (INR equivalent) long-term capital investment from the International Finance Corporation (IFC). The company said the funds will be used to deploy modern, air-conditioned electric buses across cities in Maharashtra, Assam and Gujarat.

JBM has already rolled out 2,500-plus e-buses across 10 states and 15 airports and has an order book of 11,000 units under execution. Its Delhi-NCR plant -- among the world's largest dedicated e-bus facilities -- boasts an annual capacity of 20,000 buses.

Nishant Arya, Vice Chairman & MD at JBM Auto, said, "We are proud to partner with IFC (a member of the World Bank Group) in their largest-ever e-bus deployment project. Over the last decade, we have delivered zero-emission mobility solutions across 20+ cities in India and internationally across Europe, the Middle East, and the APAC region."

Through this project, JBM aims to cut CO₂ emissions by over 1.6 billion kgs, save 600+ million litres of diesel, generate jobs for 5,500 people, and impact the lives of over 1 billion passengers during its tenure.

In a first, the Maharashtra and Assam projects will incorporate a formal Payment Security Mechanism (PSM) to reduce payment risks tied to municipal and state transport undertakings, enhancing bankability and scalability for future e-bus projects.

With buses accounting for 70–75 per cent of India’s public transport trips, electrification offers a massive opportunity. The e-bus market is expanding rapidly, and initiatives like this support the government's 40 per cent penetration target by FY2030, JBM added.