SKF India Limited — JV/Acquisition, 17-12-2024: Acquisition

SKF India Limited has successfully incorporated a wholly owned subsidiary, SKF India (Industrial) Limited, with a paid-up capital of INR 1,00,000 (Cr 1 lakh). This initiative supports the planned demerger of the company's Industrial Business, which focuses on manufacturing and trading abrasives, bearings, and related services. Owning 100% of the subsidiary, SKF aims to enhance operational focus and unlock shareholder value through this strategic realignment. The corporation has received the necessary approvals, positioning itself for streamlined operations in the industrial sector.