Bharat Forge to acquire balance 49% stake in Kalyani Strategic Systems
Capital MarketBharat Forge intends to purchase 49% stake in its subsidiary - Kalyani Strategic Systems (KSSL). Since KSSL holds Industrial License under the Arms Act, 1959 read with the Arms Rules, 2016, the said acquisition of shares shall be subject to prior approval of Ministry of Home Affairs / Department for Promotion of Industry and Internal Trade.
Currently the Company holds 51% stake in KSSL. After this acquisition, KSSL shall become a wholly owned subsidiary of the Company.
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