Bharat Forge Limited has informed the Exchange about Acquisition

Marquee Jv AnnouncedStrategic Transactions View source PDF

BHARATFORG · price

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AI summary

Bharat Forge informed exchanges that JS Auto Cast Foundry India Pvt Ltd, its step-down wholly owned subsidiary, has completed a share allotment to PI Opportunities Fund I Scheme II. The investor received 1 equity share and 14,25,794 compulsorily convertible preference shares at Rs. 2,104.09 each, for a total investment of about Rs. 300 crore. This gives PI Opportunities Fund a 23% stake in JS Auto on a fully diluted basis. As a result, JS Auto's status has changed from a step-down wholly owned subsidiary to a step-down subsidiary of Bharat Forge, with the parent now holding 77%.

Likely market impact

The deal values JS Auto at roughly Rs. 1,300 crore on a post-money basis. Bharat Forge has brought in a marquee institutional investor without losing control of the subsidiary, which can help fund JS Auto's growth while unlocking value for the parent. For shareholders, the Rs. 300 crore inflow is modest relative to Bharat Forge's size and is unlikely to materially move the stock, but signals strategic value being recognized in its casting business.