Bharat Forge enters into Definitive Agreement to acquire JS Autocast

Bharat Forge Limited (BSE: 500493, NSE: BHARATFORG, along with its subsidiary, BF Industrial Solutions Limited together referred to as "Bharat Forge") today announced that it has entered into a definitive agreement to acquire JS Autocast Foundry India Private Limited ("JS Auto").

Established in 2004, JS Auto is a leading and a preferred supplier of critical machined Ductile Iron castings for the Wind, Hydraulic, Off-Highway and Automotive applications. Over the past 5 year, the sales of JS Auto has grown at a CA GR of 17.7%. JS Auto registered sale of Rs 259 crores in FY21.

Mr. Amit Kalyani, Deputy Managing Director, Bharat Forge commented "We are delighted to welcome the JS Auto team to Bharat Forge family and will look to leverage their capabilities, highly talented technical team and strong customer connect to aggressively grow our presence in the industrial casting space.

JS Auto will accelerate our diversification journey and enable in addressing the Decarbonization opportunity. This acquisition along with the previous deal in the open die segment significantly broadens our presence, capabilities and product offerings in the industrial space".

Bharat Forge will acquire JS Auto for an upfront consideration (based on enterprise valuation adjustments) plus fixed deferred payment at the end of 3rd year. The closing of the transaction is subject to customary closing conditions.

Shares of Bharat Forge Limited was last trading in BSE at Rs. 704.25 as compared to the previous close of Rs. 692.30. The total number of shares traded during the day was 34681 in over 1337 trades.

The stock hit an intraday high of Rs. 711.70 and intraday low of 691.25. The net turnover during the day was Rs. 24327564.00.

Source : Equity Bulls

Keywords

BharatForge INE465A01025 Acquisition JSAutocastFoundry