Bharat Forge Limited updates on acquisition of stake in subsidiary

Bharat Forge Limited has announced the purchase of 49% stake in Kalyani Strategic Systems Limited ("KSSL"), a subsidiary of the Company.

On receipt of the necessary approval from the Department for Promotion of Industry and Internal Trade, the Company has completed the purchase of 23,594,274 equity shares of KSSL from its existing shareholders, resulting in an increase in the Company's stake in KSSL from 51% to 100%. Consequently, KSSL has become a wholly owned subsidiary of the Company with effect from February 28, 2022.

Shares of Bharat Forge Limited was last trading in BSE at Rs. 677.90 as compared to the previous close of Rs. 671.85. The total number of shares traded during the day was 69551 in over 3703 trades.

The stock hit an intraday high of Rs. 681.50 and intraday low of 653.05. The net turnover during the day was Rs. 46404682.00.

Source : Equity Bulls

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BharatForge INE465A01025 BHARATFORG StakeAcquisition