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Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of Bharat Forge, has entered into a Cornerstone Investment Agreement to acquire 25% of the equity share capital of Edgelab S.p.A., an innovative SME based in Italy specializing in marine robotics. The acquisition involves a cash investment of €2,500,000. Edgelab, founded in 2010, recorded a turnover of approximately €1.89 crore (cr) in FY 2023, with its expertise in designing and manufacturing autonomous underwater vehicles catering to both civilian and defense applications.
This strategic investment aligns with Bharat Forge's focus on expanding capabilities in marine technology, potentially creating synergies for new product development in defense sectors globally, including India. The acquisition process includes requisite approvals, with the completion timeline subject to certain conditions as outlined in the agreement. Investors should watch closely for the positive implications this partnership may have on Bharat Forge’s market positioning and growth prospects.