Bharat Forge Ltd invests Euro 15 Million in Bharat Forge Holding GmbH

Bharat Forge Limited has on February 22, 2024, infused funds of Euro 15 million (INR 133.58 crores) in Bharat Forge Global Holding GmbH ("BFGH"), a wholly owned subsidiary of the Company. This amount will then be invested by BFGH into Bharat Forge Holding GmbH ("BFH") for subsequent investment in Bharat Forge Aluminiumtechnik GmbH ("BFAT"), a wholly owned subsidiary of BFH.

BFAT was incorporated in Germany on 10 August 2015 and is a wholly-owned subsidiary of Bharat Forge Holding GmbH ("BFH") and a wholly-owned step-down subsidiary of Bharat Forge Global Holding GmbH ("BFGH"). Subsequently, BFAT is a wholly-owned step-down subsidiary of Bharat Forge Limited.

BFAT had a turnover of Euro 110.88 million for the period January 2022 - December 2022.

BFAT is engaged in the manufacturing and supply of aluminium components for automotive industry. Accordingly, the investment by the Company in BFGH for further proposed investment in BFH and subsequent proposed investment in BFAT is in furtherance of BFAT's main line of business.

The Company will continue to hold 100% of shareholding in BFAT and BFH through BFGH.

Shares of Bharat Forge Limited was last trading in BSE at Rs. 1124.05 as compared to the previous close of Rs. 1121.15. The total number of shares traded during the day was 24167 in over 1254 trades.

The stock hit an intraday high of Rs. 1141.55 and intraday low of 1116.80. The net turnover during the day was Rs. 27352023.00.

Source : Equity Bulls

Keywords

BharatForge INE465A01025 Investment FundInfusion BharatForgeGlobalHoldingGmbH