Bharat Forge to invest in Kalyani Power train Limited
KPTL had a turnover of Rs. 649 million for the FY 2023-24. KPTL is engaged in the EV and e-mobility solutions space.
Indian Forging Company Bharat Forge has announced further investment in Kalyani Powertrain Limited (“KPTL”), a wholly-owned subsidiary of the Company.
The Company shall subscribe to 10,54,50,000 equity shares of face value Rs. 10/- each of KPTL for an aggregate investment not exceeding Rs. 1,05,45,00,000.
The Company will continue to hold 100% of shareholding in KPTL. The investment will be completed on or before September 30, 2024.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : Manish Raj takes charge as SAIL, Director (Technical, Projects & Raw Materials)
KPTL is a public limited company and a wholly owned subsidiary of the Company which houses electric vehicle (“EV”) and e-mobility initiatives of the Company.
KPTL had a turnover of Rs. 649 million for the FY 2023-24. KPTL is engaged in the EV and e-mobility solutions space.
Accordingly, the proposed investment by the Company in KPTL is towards the strategic initiatives of the Company to house all the e-mobility initiatives of the Company under KPTL.
Read Also : HPCL subsidiary commissions LNG Regasification terminal in Gujarat