New Delhi, Sept. 29 -- Highway Roop Precision Technologies Ltd, the Indian auto-components platform of private equity firm Carlyle, said Tuesday it has acquired Chamundi Die Cast Pvt Ltd as it looks to broaden its manufacturing capabilities and strengthen its presence in the automotive and industrial segments.
The acquisition adds aluminium die-casting and precision-machining capabilities to Highway Roop's existing forging and machining operations, the company said in a statement. It didn't disclose financial terms.
The announcement comes more than a year after VCCircle exclusively reported about the impending deal in June 2025.
Highway Roop said Chamundi also brings a growing portfolio of electric vehicle components and customer relationships across India, North America and Europe.
Founded in 1985 by Ghouse Khan, Chamundi has capabilities spanning tool design and manufacturing, high-pressure and gravity die-casting, precision machining, powder coating and assembly. The company caters to automotive and industrial customers and has an export-oriented manufacturing base in South India.
The transaction will expand Highway Roop's product capabilities across steering, transmission and powertrain applications, while adding lightweight engineered components that are increasingly being used across newer vehicle technologies. The acquisition also gives the company a manufacturing base in South India, diversifying its existing footprint and strengthening its supply chain.
The acquisition is part of Carlyle's strategy of building a larger auto-components platform in India through Highway Roop. Carlyle acquired a controlling stake in the combined Highway Industries-Roop Automotives platform in February 2025. The transaction followed a share swap between the two Indian companies, after which Carlyle acquired a majority stake. VCCircle had earlier reported that the deal was valued at around $400 million, with Carlyle acquiring roughly 69% of the merged entity.
Highway Industries and Roop Automotives were combined to create the platform, which manufactures forged and precision-machined components, steering-system assemblies, transmissions and other powertrain products for electric, hybrid and internal-combustion engine vehicles. At the time of the acquisition, the platform had more than 1,500 products, 55 customers across 17 countries, 12 manufacturing plants and 14 international warehouses.
Carlyle subsequently appointed former Schaeffler India CEO Dharmesh Arora as CEO of Highway Roop. Arora joined the company in June 2025 as the platform sought to accelerate growth and expand its manufacturing and product capabilities.
Published by HT Digital Content Services with permission from VC Circle.