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Bharat Forge Ltd updates of acquisition of stake in TORK

Posted On: 2019-06-04 11:37:54

Bharat Forge Ltd had earlier approved the definitive agreements to acquire 45% of the total share capital of TORK Motors Private Limited (TORK) on a fully diluted basis, in three tranches on achieving various milestones from time to time.

Pursuant to conclusion of the definitive agreements under Tranche III, the Company has subscribed 1,895 equity shares of Rs. 10/- each at a premium of Rs. 21,103/- per equity share of TORK. Pending allotment of shares by TORK under ESOP Scheme to its employees, the Company currently holds 48.86% of the total share capital of TORK.

Shares of BHARAT FORGE LTD. was last trading in BSE at Rs.465.5 as compared to the previous close of Rs. 467.1. The total number of shares traded during the day was 73624 in over 1461 trades.

The stock hit an intraday high of Rs. 472.35 and intraday low of 455.95. The net turnover during the day was Rs. 34256695.


Source: Equity Bulls

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