Norwest Invests Rs 750 Crores in Padmini VNA Group for Minority Stake

Padmini VNA Group has secured a strategic growth investment of INR 750 crores from Norwest, marking a significant milestone for the automotive innovation and sustainable mobility solutions provider. The minority stake investment will accelerate the company's next phase of growth and innovation.

Founded in 1991, PVNA has established itself as a promoter-driven engineering enterprise with over three decades of manufacturing excellence and innovation. The company maintains a strong research and development culture, with more than 30 percent of its workforce dedicated to R&D activities and a portfolio of over 100 patents.

The Group's diverse product range includes emission control solutions, sensors, braking applications, thermal management systems, actuators, seat solutions, motors, solenoid valves, and advanced e-drive technologies. PVNA serves as a supplier to global and Indian original equipment manufacturers across two-wheeler, passenger vehicle, commercial vehicle, and construction equipment segments.

"For over 30 years, we have built this group on a singular belief that world-class mobility innovation can be conceived, engineered and scaled from India," said Kabir Bhandari, Managing Director and Chairman of PVNA. He highlighted the company's commitment to building differentiated, future-ready solutions for evolving urban transit and mobility needs.

Viveka Bhandari, Chief Operating Officer of PVNA, described the partnership as a defining moment in the company's evolution. The investment will support organic expansion and strategic acquisitions while deepening relationships with key customers and strengthening presence in high-growth segments.

Niren Shah, Managing Director and Head of Norwest India, emphasized PVNA's differentiated position as an IP-driven auto-component platform. He noted the company's strong culture of research and development under the leadership of Kabir and Viveka Bhandari.

PVNA operates three manufacturing facilities with a team of over 2,100 employees. The company maintains a global presence across Europe, Asia, and North America, partnering with leading OEMs and Tier-1 suppliers. More than 200 R&D professionals work on developing next-generation connected mobility technologies.

Norwest manages more than $15.5 billion in capital and has invested in over 700 companies since its inception. The firm currently partners with more than 250 companies in its venture and growth equity portfolio. In India, Norwest has invested in companies including Swiggy, OfBusiness, NSE, Amagi, Infinx, and Five Star Finance.

The partnership aims to accelerate innovation in clean and connected mobility solutions, strengthen PVNA's leadership in high-growth segments, and support long-term transformation through global market expansion. Ernst & Young and Trilegal served as advisors to PVNA on the transaction.