Acquisitions30 Jun 2025, 08:32 pm
Bharat Forge Approves Internal Restructuring & Acquisition of AAM India
AI Summary
Bharat Forge Ltd. announced that its Board of Directors approved an internal restructuring exercise for the transition of Defence Business to Kalyani Strategic Systems Limited (KSSL), its wholly owned subsidiary. The Board also approved the acquisition of AAM India Manufacturing Corporation Private Limited for up to Rs. 7,700 million. The restructuring will involve the transfer of identified assets and other related obligations of the Company to KSSL on an itemized sale basis, for consideration in the form of Optionally Convertible Redeemable Preference Shares (OCRPs) to be issued by KSSL. The acquisition of AAM India is expected to be completed by July 1, 2025.
Key Highlights
- Bharat Forge to transfer Defence Business to KSSL, its wholly owned subsidiary
- Transfer to be done at fair value as determined by independent valuer
- Consideration for transfer to be discharged by way of OCRPs issued by KSSL
- Acquisition of AAM India Manufacturing Corporation Private Limited for up to Rs. 7,700 million
- Acquisition to be completed by July 1, 2025