Bharat Forge’s subsidiary, Kalyani Strategic Systems Limited (KSSL), has completed the acquisition of a 25% stake in Edgelab S.p.A., acquiring 769,000 shares at €3.25 each, part of its IPO plans.
Bharat Forge Limited, a leading manufacturer of high-performance forged components, has announced the successful completion of the acquisition of a 25% stake in Edgelab S.p.A., an Italian technology company.
This acquisition was executed through Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of Bharat Forge, Bharat Forge said in a press release on the stock exchanges.
Bharat Forge informed the markets about KSSL’s signing of a Cornerstone Investment Agreement, aimed at acquiring a 25% shareholding in Edgelab as part of its proposed initial public offering (IPO). The acquisition has now been finalised, with KSSL being allotted 769,000 ordinary shares of Edgelab at a price of €3.25 per share.
This strategic move is in line with Bharat Forge’s expansion efforts into the technology space, further enhancing its portfolio with a focus on innovative solutions.
The company’s investment in Edgelab reflects its commitment to strengthening its presence in high-growth industries. Bharat Forge, through KSSL, continues to explore growth opportunities both in India and globally, making strategic investments to drive long-term value for its shareholders.
This acquisition is expected to position Bharat Forge as a key player in Edgelab’s growth journey, leveraging synergies in technology and innovation.
On December 31, 2024, Bharat Forge’s share price traded 0.10% lower at ₹1,301 at 9:30 AM on the NSE. The stock opened at ₹1,301 lower than ₹1,302.5 at its previous close.
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