Investment2 Nov 2023, 12:12 am
Bharat Forge Limited to Invest Additional Rs. 100 Crore in Kalyani Powertrain Limited
AI Summary
Bharat Forge Limited, a leading Indian multinational automotive and engineering company, has announced that it will invest an additional Rs. 100 crore in its wholly owned subsidiary, Kalyani Powertrain Limited (KPTL), to further its e-mobility and electric vehicle (EV) initiatives. This investment is in addition to the Rs. 162.84 million turnover of KPTL for the FY 2022-23. The proposed investment is a related party transaction and will be done on an arm's length basis, with no interest from the Company's promoter/promoter group/group companies in the proposed investment.,
Key Highlights
- Investment in e-mobility and EV initiatives
- Additional investment of Rs. 100 crore in KPTL
- Related party transaction on arm's length basis
- No interest from promoter/promoter group/group companies