Bharat Forge's arm incorporates wholly-owned subsidiary 'Electroforge'

27 Jul 2022 , 09:17 AM

Bharat Forge Limited has informed to the exchanges that its wholly-owned subsidiary Kalyani Powertrain Limited (“KPL”) has incorporated a wholly-owned subsidiary in the name of ‘Electroforge Limited’ on July 25, 2022.

As per the filing, EFL will engage in activities related to e-mobility including design, development, manufacture, sales and distribution of electric drive units, electric motors, electric vehicles and certain forged components in the e-mobility sector.

EFL has been promoted and incorporated to undertake the e-mobility related activities to cater to the EV initiatives and business of the Company,the company said.

At around 9:17 AM, Bharat Forge was trading at Rs707.90 per share up by Rs4.7 or 0.67% from its previous closing of Rs703.20 per share on the BSE.