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Bharat Forge invests ₹105 crore in Kalyani Powertrain Limited to boost its EV and e-mobility initiatives. The transaction ensures Bharat Forge’s 100% shareholding in KPTL, aligning with its strategic objectives. Bharat Forge share price shows a 56.14% rise in the past year.
Auto components giant Bharat Forge Limited has announced a strategic investment of ₹105 crore in its wholly-owned subsidiary, Kalyani Powertrain Ltd (KPTL), which focuses on electric vehicle (EV) and e-mobility solutions.
The investment involves subscribing to 10,545,000 equity shares of KPTL at a face value of ₹10 each. The transaction is expected to be completed by September 30, 2024, and will maintain Bharat Forge’s 100% ownership of KPTL.
Despite being a related party transaction, Bharat Forge has ensured that the deal will be conducted at arm's length, with no additional interest from any promoter or group company.
This investment is crucial for Bharat Forge as it aims to strengthen its position in the EV market, a sector that is witnessing exponential growth globally. With this investment, Bharat Forge is positioning itself to leverage emerging opportunities in the EV sector, ensuring long-term growth and sustainability.
KPTL, incorporated on September 26, 2020, in Pune, India, is a public limited company dedicated to developing and providing solutions for electric vehicles and e-mobility.
The subsidiary reported a turnover of ₹64.9 crore for the fiscal year 2023-24. KPTL operates solely within India, with no presence in other countries.
The Bharat Forge share price has shown a strong performance, reflecting investor confidence in the company’s strategic direction. On August 22, 2024, the Bharat Forge share price closed at ₹1,617.50 on the NSE, marking an increase of ₹17.50 or 1.09% from the previous session.
Over the past 12 months, the stock has delivered an impressive return of 56.14%, with a gain of ₹581.60.
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