Auto components major Bharat Forge Ltd on Thursday (February 22) announced a strategic infusion of €15 million (approximately ₹133.58 crore) into Bharat Forge Global Holding GmbH (BFGH).
"...the Company has on February 22, 2024, infused funds in Bharat Forge Global Holding GmbH (BFGH), a wholly-owned subsidiary of the
company. This amount will then be invested by BFGH into Bharat Forge Holding GmbH (BFH) for subsequent investment in Bharat Forge Aluminiumtechnik GmbH (BFAT), a wholly owned subsidiary of BFH," Bharat Forge said in a regulatory filing.
This investment, to be made by BFGH into Bharat Forge Holding GmbH (BFH), is earmarked for subsequent funding of Bharat Forge Aluminiumtechnik GmbH (BFAT), a significant step-down subsidiary in Germany.
BFAT, a wholly-owned subsidiary of Bharat Forge Holding GmbH, specialises in producing forged and machined aluminium components for the automotive industry.
The investment is structured as a related party transaction and is expected to be completed by February 29, 2024. The company will continue to maintain full ownership of BFAT and BFH through its subsidiary, BFGH.
Shares of Bharat Forge Ltd ended at ₹1,130.05, up by ₹6, or 0.53%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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