Bharat Forge Limited announced that its wholly owned subsidiary, BF Industrial Solutions Limited (BFISL), has successfully completed the acquisition of 90% stake in RS Aerostructures Limited (RSAL). BFISL acquired 36,00,000 equity shares at par, representing 90% of RSAL’s paid-up share capital on a fully diluted basis. Consequently, RSAL is now a step-down subsidiary of Bharat Forge Limited.
Acquisition Milestone Achieved
Bharat Forge Limited has officially confirmed the completion of a significant acquisition by its wholly owned subsidiary, BF Industrial Solutions Limited (BFISL). This strategic move involves the acquisition of a 90% stake in RS Aerostructures Limited (RSAL), an entity that will now operate under the broader Bharat Forge group structure.
Transaction Details
The acquisition involved the purchase of 36,00,000 equity shares of RSAL, each with a face value of Rs. 10/-, transacted at par. This transaction represents 90% of the paid-up share capital of RSAL on a fully diluted basis. The completion of this deal marks a key step in Bharat Forge’s expansion strategy within the aerospace sector.
RSAL Becomes Step-Down Subsidiary
Following the completion of the acquisition by BFISL, RS Aerostructures Limited (RSAL) is now formally recognized as a step-down subsidiary of Bharat Forge Limited. This integration is expected to create synergies and enhance operational capabilities within the group’s growing portfolio.
Regulatory Compliance
This announcement is made in compliance with the pertinent disclosure requirements, ensuring transparency with stakeholders regarding the company’s strategic investments and corporate restructuring activities. The company has requested stock exchanges to take this information on record.
Source: BSE
