MM Forgings has agreed to make a strategic investment in Abhinava Rizel by subscribing to equity shares equivalent to 88% of the issued and paid-up share capital of the Investee Company. Towards this end, the Company at its meeting held on September 01, 2022 entered into a share subscription and shareholders agreement (SSHA) executed by MMF with the Investee Company, the Promoters and Existing Shareholders, to subscribe to the shares of Investee Company aggregating to 88% of the issued and paid up share capital of the Investee Company. M M Forgings, a publicly-traded global player in forgings, is investing in start-up to produce EV powertrain components.
MM Forgings engages in the manufacture and sale of iron and steel forgings in India. The company offers steel forgings in raw, semi-machined, and fully machined stages in various grades of carbon, alloy, micro alloy, and stainless steels.
