Bharat Forge has infused funds in Bharat Forge Global Holding GmbH (BFGH), a wholly owned subsidiary of the Company, on March 05, 2024. The Euro 20 million (Rs 179.90 crore) invested in the form of Capital Reserve. The company will continue to hold 100% of shareholding in BFGH. The proposed investment is in the nature of Related Party Transactions and will be on an arm’s length basis.
BFGH will use these funds for group business activities. BFGH was incorporated on December 15, 2003 and is a wholly owned subsidiary of the Company based in Germany. It is the holding company for overseas investments undertaken by the Company. It does not have presence in any other country.
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.