Bharat Forge on Tuesday acquired 17.8 per cent stake of Aeron Systems for ₹5.94 crore. Last week, the company had entered into a share subscription agreement with Aeron Systems and its founders, agreeing to subscribe to 97,500 equity shares of ₹10 each for a stake of 26 per cent, which are agreed to be subscribed in three tranches. The total consideration of purchase of 26 per cent stake in Aeron is agreed at ₹10 crore. Shares of Bharat Forge jumped 2 per cent at ₹491.40 on the BSE.
Company news: Bharat Forge
Published on
May 29, 2019 02:59