Bharat Forge Limited — Important, 13-12-2024: General Updates

Bharat Forge has approved an additional investment in Kalyani Powertrain Limited (KPTL), a wholly-owned subsidiary focused on electric vehicle (EV) and e-mobility solutions. The Investment Committee sanctioned the acquisition of 48 million equity shares at a total cost of up to ₹480 million. This follows a prior approval for 25 million shares costing up to ₹250 million. KPTL had a turnover of ₹649 million in FY 2023-24. The funds will be utilized to address certain outstanding borrowings, reinforcing KPTL's operational stability. Bharat Forge maintains full ownership of KPTL, indicating a strategic commitment to its EV initiatives, which may positively impact the company's long-term growth prospects. Investors should monitor developments closely as this investment enhances Bharat Forge's footprint in the rapidly evolving EV market.