Bharat Forge has subscribed to 1,13,75,000 equity shares of Rs 10 each of Avaada MHVidarbha (AMHVPL) amounting to Rs 11.37 crore. Subsequent to the said subscription, the company holds 26% of paid up share capital of AMHVPL. The object of the acquisition is to purchase solar power on a Single Captive User basis.
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.