Bharat Forge Subsidiary JS Auto Allots Equity Shares & Preference Shares to PI Opportunities Fund, Acquiring 23% Stake

Bharat Forge Ltd. has updated on the acquisition of JS Auto Cast Foundry India Private Limited by PI Opportunities Fund | Scheme Il. JS Auto has completed the transaction by allotting 01 Equity Share and 14,25,794 0.001% Non-Cumulative Compulsorily Convertible Preference Shares to the Investor for an aggregate consideration of Rs. 3,000,000,001.55. This has resulted in the Investor acquiring 23% stake in JS Auto on a fully diluted basis, changing JS Auto's status from step-down wholly owned subsidiary to step-down subsidiary of Bharat Forge Ltd.