16-Oct-2026 17:09:04
BHARAT FORGE : INFUSES RS 240 CR IN WOS KSSL, RS 163 CR TO FLOW TO AEL
• Bharat Forge invests ₹240 Cr (Rs 2,400 million) in equity shares of Kalyani Strategic Systems Ltd (KSSL), a wholly owned subsidiary, at fair value by way of rights issue • Investment funded out of the proceeds of the Qualified Institutional Placement and through internal accruals • KSSL to further invest up to ₹163 Cr (Rs 1,630 million) in equity shares of Agneyastra Energetics Ltd (AEL) via rights issue, in one or more tranches • AEL is a wholly owned subsidiary of KSSL and a step-down wholly owned subsidiary of Bharat Forge; KSSL will continue to hold 100% of AEL • AEL is a defence energetics maker spanning high energy explosives, ammunition HE filling (heavy and medium caliber), gun and rocket propellants; investment aimed at operationalizing AEL and setting up a pour filling facility for ammunition shells • AEL was incorporated on July 2, 2025 and had nil turnover for FY26; consideration is cash, in tranches, to be completed on or before September 30, 2027 • Allotment of KSSL equity shares to Bharat Forge to be completed on or before October 31, 2026
Bharat Forge Limited
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