Bharat Forge to infuse ₹105 Crore in Kalyani Powertrain

23 Aug 2024 , 12:28 PM

Bharat Forge Ltd, a major auto component manufacturer, announced on Thursday (August 22) a strategic investment in Kalyani Powertrain Ltd (KPTL), its wholly-owned subsidiary focused on electric vehicle (EV) and e-mobility solutions.

The investment comprises subscribing to 10,545,000 equity shares of KPTL with a face value of ₹10 each, for up to ₹105 Crore. KPTL, with a turnover of ₹64.9 Crore in FY 2023-24, is a connected party of Bharat Forge.

Despite being a related party transaction, the transaction will be executed at arm’s length, with no promoter or group firm having a vested interest in the investment.

The acquisition will allow Bharat Forge to consolidate its e-mobility projects under KPTL, consistent with the company’s strategic goals in the EV industry. The investment is planned to be completed by September 30, 2024, and will maintain Bharat Forge’s 100% ownership of KPTL.

KPTL is an Indian public limited company founded on September 26, 2020, with its registered office in Pune, India. KPTL has no presence in any other countries.

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