M M Forgings Limited to acquire Cafoma Autoparts Private Limited

The board of directors of M M Forgings Limited at its meeting held on 15 October 2021, considered and approved the signing of share purchase agreement and acquisition of Cafoma Autoparts Private Limited.

The Company is engaged in machining, manufacturing, buying, selling, supplying, export, import, distribute and deal in all shapes, sizes, weights and types of auto parts and engine parts as well as the pre, sub, group and final assembles.

The investment would result in business synergy and enhance the current business operation of the Company and its potential expansion.

Post transaction - M M Forgings Limited will hold 100% of Cafoma Autoparts Private Limited. The Target Company shall become a wholly owned subsidiary of M M Forgings Limited.

Shares of MM Forgings Limited was last trading in BSE at Rs. 884.10 as compared to the previous close of Rs. 871.65. The total number of shares traded during the day was 3179 in over 316 trades.

The stock hit an intraday high of Rs. 891.15 and intraday low of 852.00. The net turnover during the day was Rs. 2745506.00.

Source : Equity Bulls

Keywords

MMForgings INE227C01017 MMFL Acquisition CafomaAutoparts