Bharat Forge Completes Tranche I Investment in Sunsure SPV
Filing Summary
Bharat Forge Ltd has completed the first tranche of its investment in Sunsure Energy Private Limited’s special purpose vehicle (SPV). The transaction involved the acquisition of 20,580 equity shares by Bharat Forge’s wholly-owned step-down subsidiary, J S Auto Cast Foundry India Private Limited. The shares were acquired at a face value of Rs. 10 each, with a premium of Rs. 1,240 per share, representing a 31.57% stake on a fully diluted basis. This update follows Bharat Forge’s earlier announcement on September 20, 2024, regarding the proposed acquisition.
Bharat Forge Ltd has announced the completion of Tranche I investment in a special purpose vehicle (SPV) of Sunsure Energy Private Limited. This transaction was executed by Bharat Forge’s wholly-owned step-down subsidiary, J S Auto Cast Foundry India Private Limited (JS Auto).
JS Auto acquired a total of 20,580 equity shares in Sunsure Solarpark Twenty-Three Private Limited. Each share was purchased at a face value of Rs. 10, with an additional premium of Rs. 1,240 per share. This acquisition represents a 31.57% stake on a fully diluted basis in the SPV.
This update is in reference to Bharat Forge’s earlier communication dated September 20, 2024, regarding the proposed acquisition of equity shares in SPVs of Sunsure Energy Private Limited. The transaction aligns with Bharat Forge’s strategic investment plans involving its subsidiaries, including Kalyani Centre for Precision Technology Limited.
Bharat Forge Ltd is a leading global provider of forging and engineering solutions. The company focuses on expanding its capabilities in various sectors, including automotive, power, and industrial. Bharat Forge continues to pursue strategic investments and partnerships to enhance its market presence and technological expertise.