Bharat Forge to take full ownership of Kalyani Strategic Systems
Bharat Forge, a Pune-based forging company, is set to take full ownership of Kalyani Strategic Systems by acquiring the remaining 49% stake for INR 32.97 crores in cash.
Kalyani Strategic Systems is engaged in developing and deploying defence electronics, systems development, and system integration for defence products and components.
It is the holding company for Bharat Forge’s defence vertical. By making Kalyani Strategic Systems a fully-owned subsidiary, Bharat Forge will be able to qualify for taking part in various defence programs.
Bharat Forge to take full ownership of Kalyani Strategic Systems. Photo courtesy of Free-Photos from Pixabay.
The acquisition is said to be subject to approval from the Indian Ministry of Home Affairs/Department for Promotion of Industry and Internal Trade.