The National Company Law Tribunal (NCLT), New Delhi, has approved resolution plan of Ramkrishna Forgings Ltd for the acquisition of ACIL Ltd, company engaged in the manufacturing of high precision engineering automotive components.
Ramkrishna Forgings has said in its stock exchange filing that it plans to fund the transaction through a mix of internal accruals and debt.
Commenting on the development, Lalit Kumar Khetan, Whole Time Director & CFO of Ramkrishna Forgings, said, “We are pleased to announce the NCLT approval for the acquisition of ACIL Limited, a move that aligns seamlessly with our strategic growth objectives.”
“This enhances our product offerings and strengthens our market presence, marking a significant milestone for Ramkrishna Forgings Limited. This synergy will not only strengthen our foothold in various industries but also broaden our collective capacity to cater to diverse global markets, fostering deeper and more impactful partnerships on an international scale,” Khetan added.
Ramkrishna Forgings stock inched up by 0.84 per cent on the NSE, traded at ₹729.45 as of 2:47 pm on Friday.