| Bharat Forge announced that its wholly owned subsidiary - Kalyani Strategic Systems is acquiring 51% stake in Zorya Mashproekt India (ZMI).
ZMI is a private limited company which is engaged in business of
development of indigenous capabilities for build ups and repair and
overhaul of all types of gas turbine engine.
ZMI is a pre-revenue company incorporated on 12 August 2022 and
hence has no turnover since inception.
The proposed acquisition is being made with an objective to create indigenous capabilities for design, manufacturing, maintenance repair and overhaul including spare support for all types of gas turbines.
The acquisition will be completed by 31 December 2023.
|