Bharat Forge has completed Tranche I investment i.e. 17.8% (Investment of 17.8% in 58,500 equity shares of Rs 10 each at a premium of Rs 1015.64 each), in Aeron Systems.
Earlier, Bharat Forge had entered into a share subscription agreement with Aeron Systems and its founders on May 21, 2019, agreeing to subscribe to 97,500 equity shares of Rs 10 each for a stake of 26%. The Subscription is agreed to be subscribed in three tranches.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.