Bharat Forge Limited has informed the Exchange about Acquisition
BHARATFORG · price
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On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and 1.7 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bharat Forge's board on June 30, 2025 approved two major decisions. First, the company will acquire 100% of AAM India Manufacturing Corporation Private Limited, a maker of axles for light, medium and heavy commercial vehicles. The deal consideration has been revised upward from Rs. 5,445.30 million to up to Rs. 7,700 million, mainly because AAM India has more cash on its balance sheet at the closing date of July 1, 2025 — this extra cash will remain with AAM India post-completion. Second, as part of internal restructuring, Bharat Forge will transfer its defence business assets to its wholly owned subsidiary Kalyani Strategic Systems Limited (KSSL) in exchange for Optionally Convertible Redeemable Preference Shares (OCRPs) of up to Rs. 5,000 million. KSSL reported revenue of Rs. 12,470.29 million in FY25. The restructuring will not impact consolidated financials.
The AAM India deal expands Bharat Forge's automotive component portfolio, though the higher price tag is offset by AAM India's own cash — so the net outflow for Bharat Forge is largely unchanged. The defence business transfer is an internal reorganization with no consolidated impact, aimed at giving KSSL sharper focus to unlock value.