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Bharat Forge Acquires 25% Stake in Edgelab, Approves Investment in Kalyani Powertrain

Updated on: Dec 16, 2024, 4:22 PM IST
Bharat Forge announces Kalyani Strategic Systems' acquisition of 25% in Edgelab S.p.A. and further investment in Kalyani Powertrain.
Bharat Forge Acquires 25% Stake in Edgelab, Approves Investment in Kalyani Powertrain
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Bharat Forge has entered into a strategic agreement for a 25% stake acquisition in Edgelab S.p.A., a leader in marine robotics, and also approved a further investment in Kalyani Powertrain Ltd. to expand its EV portfolio.

Bharat Forge Acquires 25% Stake in Edgelab

Bharat Forge Limited, through its subsidiary Kalyani Strategic Systems Limited (KSSL), has entered into a Cornerstone Investment Agreement with Edgelab S.p.A. on December 13, 2024.

This agreement is for the acquisition of 25% of Edgelab’s equity share capital, ahead of its proposed initial public offer (IPO).

Edgelab, a company specialising in the design and manufacturing of Autonomous Underwater Vehicles for both civilian and defence purposes, recorded a turnover of €1.89 million in FY 2023.

This acquisition aligns with Bharat Forge’s focus on marine technology and will help in developing new products for defence programs globally, including India.

Bharat Forge Approves Investment in KPTL

In addition, Bharat Forge has approved an additional investment in its wholly-owned subsidiary, Kalyani Powertrain Limited (KPTL), through a right issue.

KPTL, specialising in electric vehicles (EV) and e-mobility solutions, will use the proceeds from this investment to repay outstanding borrowings. The investment, approved by the Strategic Business Investment Committee, will be completed by December 31, 2024, maintaining Bharat Forge’s 100% ownership in KPTL.

Share Price Performance 

On December 16, 2024, Bharat Forge’s share price traded 0.83% higher at ₹1,359.50 at 12:30 PM on the NSE. The stock opened at ₹1357.25, higher than ₹1,348.30 at the previous close.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 16, 2024, 12:28 PM IST

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