Bharat Forge announced it has acquired Sanghvi Forging and Engineering Ltd.(SFEL) for Rs 90 crores. The acquisition has been completed on June 28, 2021.
“In this regard, we wish to inform you that in accordance with the NCLT order dated April 26, 2021 and in terms of the approved Resolution Plan, the Company has fully implemented the Resolution Plan and pursuant to the Resolution Plan has acquired 100% control of SFEL through its whollyowned subsidiary – BF Industrial Solutions Limited (formerly known as Nouveau Power & Infrastructure Private Limited) (“BFISL”),” the company said in its exchange filing.
SFEL is an Indian public limited company incorporated on March 16, 1989, with its registered office at Waghodia, Gujarat. SFEL is engaged in the manufacture of open and closed die forging products for the oil & gas,
defence, ship building, power & other sectors and is an exporter of products to various foreign countries over the last two decades; SFEL is also engaged in manufacturing components for Defence and Aerospace, Power, Oil & Gas, Construction & Mining, Railways, Marine and General Engineering sectors.
Bharat Forge Limited (BFL), the Pune based Indian multinational is a technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace.
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