The bus 'Citylife' will be manufactured in the company's Faridabad (Haryana) and Kosi (Uttar Pradesh) facilities.
These plants have the capacity to deliver 2,000 units per year.
The company declined to give the price of the newly launched vehicle but said "price of the bus will depend on customers because we have various features".
"But, I will assure that our product will be competitive in the market," JBM Group Executive Director Nishant Arya told reporters here.
He said the bus is ready for the market. "We are participating in different tenders in different states. You will soon see the bus on the roads. We have both the variants - CNG and Diesel".
He also said the company has invested Rs 500 crore in the last two years for the bus.
"To boost passenger safety and comfort, the 'Citylife' will have cantilever seats, armrests and more room for standing passengers," Arya added.
JBM Group has 35 manufacturing plants, four engineering and design centres across 18 locations globally.