Bharat Forge Limited has sanctioned an investment of €39 million or approximately ₹345 crore for its German subsidiary, Bharat Forge Global Holding GmbH (BFGH).
The company’s Investment Committee cleared the proposal on December 24 to help BFGH and its European units manage their debt and improve their financial health.
BFGH was formed in 2003 in Germany and serves as Bharat Forge’s base for international investments across Germany, Sweden, and France.
For the fiscal year ending on December 2023, BFGH had a revenue of around €5.11 million or approximately ₹45 crore.
This is aligned with what Bharat Forge had planned long ago in the QIP document, under which Bharat Forge elaborated how it would move forward as a global giant.
At the time of writing, shares of Bharat Forge Limited is currently trading at ₹1315 which is a 0.70% dip than the previous close. Bharat Forge shares has witnessed a total of 21% dip in the six month.
The company has dominance in business sectors such as automotive, energy, construction, aerospace, and defense globally and nationally. The company is looking to invest in its overseas businesses to stay competitive and expand into key global markets.
Equity infusion is expected to be completed by December 31, 2024. This will reflect the commitment Bharat Forge has to building its global operations and creating long-term growth.
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