Bharat Forge’s KSSL, Spain’s DUMA Form Defence JV to Boost Global Expansion

27 Mar 2025 , 05:53 PM

Kalyani Strategic Systems Limited (KSSL), a wholly owned subsidiary of Bharat Forge Limited, one of the largest manufacturer of auto components, had on March 27, 2025, disclosed its joint venture (JV) with Duma Engineering Group S.L. (DUMA), based in Spain.

The agreement is focused on creating a new joint defence venture company in Spain that would develop defence-specific technologies, product platforms and solutions. In accordance with the agreement, Kalyani Strategic Systems Limited (KSSL) will own a 90% share of the newly established entity, whereas DUMA will possess the other 10%.

The defence joint venture will serve the defence requirements of India, Europe and specified export markets, further enhancing Bharat Forge’s capabilities for the global defence market. Equity to be issued is dependent on the completion of conditions in the JV agreement.

Also, DUMA does not have any relation with Bharat Forge’s promoters, promoter group, or group companies and the transaction will not be treated as related party transaction. The collaboration is also in line with a Bharat Forge’s strategic expansion in the defence sector and its commitment to innovation and growth in the global markets.