The Varroc Group has 37 12 manufacturing facilities 12,4000 engineering centers Employees and 760 employees in 12 2016-17 countries with engineering expertise and is on a growth trajectory Annual sales reached $1.5 billion.

Mumbai:Managing Director of Auto Parts Company Group, Rahul Bajaj nephew Tarang Jain After the successful leadership of the company, the company is now gearing up for the next phase of growth and is set to set up a company by the first quarter. IPO next year.

I made a huge investment and the years of hard work have paid off,” Jain said. Jain said he will now leave the company and hire experts to expand his management.

Aurangabad-based Varroc appointed Ashwani Maheshwari in April 2018 as CEO of its India operations. Co-leading the company’s metals business with Maheshwari is US-based Varoc Lighting Stephane Vedie.

Both Maheshwari and Vedie report to Tarang Jain. TR Srinivasan (from Alliance Tire) was also recently appointed as Group Chief Financial Officer (CFO), along with Vikas Marwah (from Sona Koyo Steering Systems) as Chief Sales and Marketing Officer. While building internal leadership, Varroc plans to have at least 20% of its programs at least 20% women in management positions.

It takes family members to do business, but it takes even more ability,” said Chairman Tarang. Currently, Tarang’s eldest son Arjun (Arjun) is in charge of the electrical business after two or three years at Bain & Company (Bain Co.). The company has also appointed four outside directors. Board of Directors, Gautam Khandelwal, Marc Szulewicz, Vijaya Sampath and Vinish Kathuria.

Varroc Group has 37 12 manufacturing facilities in 12 countries 12,4000 engineering centers Employees and 760 In 2016-17, the engineering specialist is on a growth trajectory Annual sales reached $1.5 billion.

Tata Opportunities Fund, which holds a 13.7% stake in the company, is expected to exit during the IPO. In 2014, it invested Rs 300 crore in Varoc. Varroc hired investment bank Kotak to manage the first share sale along with Credit Suisse. The bankers are yet to file a compelling draft prospectus. Tarang has not disclosed anything about the IPO.

Founded in 1990, Varroc Group is a supplier of exterior lighting systems, powertrain, electrical and electronic, body and chassis components to leading motorcycle companies Bajaj Auto, Honda, Royal Enfield and Yamaha. Tarang said Bajaj Auto’s business has been growing for years, but the addition of new customers has reduced its dependence to 16 percent.