The Board of Bharat Forge at its meeting held on 08 August 2024 has approved transfer of its stake in joint venture Refu Drive GmbH, to Kalyani Powertrain, a wholly owned subsidiary of the company for consideration of �11.509 million which is the fair value as determined by independent valuer. Powered by Capital Market - Live News

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved the closure of Indigenous IL, a non-operational subsidiary of the Company. IL was incorporated as a wholly-owned subsidiary of the Company in Israel in 2018 to explore investment opportunities in various technology start-up companies. IL has not commenced any business since its incorporation. Thus, no capital was contributed into IL. The closure of IL has been approved since there are no future business plans envisaged in Israel.Powered by Capital Market - Live News

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved the transfer of 39.43% stake held in TMJ Electric Vehicles to Bharat Forge International, a wholly-owned subsidiary. Powered by Capital Market - Live News

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved has approved the conversion of USD 12 million loan given to Bharat Forge America Inc.(BFA) into equity.BFA is a wholly owned subsidiary of the Company based in Surgoinsville, Tennessee, USA and is the holding company for its USA entities. Powered by Capital Market - Live News

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved raising up to Rs 2000 crore by way of issue of equity shares, debt issue, or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, preferential issue or any other method. Powered by Capital Market - Live News