Bharat Forge Invests ₹240 Cr in Subsidiary Kalyani Strategic Systems

Bharat Forge Limited has invested ₹2,400 million (₹240 Crore) in equity shares of its wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), via rights issue. This investment is funded by proceeds from a Qualified Institutional Placement and internal accruals. Subsequently, KSSL will invest ₹1,630 million (₹163 Crore) in its own wholly owned subsidiary, Agneyastra Energetics Limited (AEL), a specialized defense and space energetics manufacturing company. This move aims to operationalize AEL and establish a state-of-the-art facility for ammunition shell filling. The transactions are on an arm's length basis, and no governmental approvals are required.