Bharat Forge announced that its wholly owned subsidiary - Kalyani Strategic Systems is acquiring 51% stake in Zorya Mashproekt India (ZMI). ZMI is a private limited company which is engaged in business of development of indigenous capabilities for build ups and repair and overhaul of all types of gas turbine engine reported Capital Market.

ZMI is a pre-revenue company incorporated on 12 August 2022 and hence has no turnover since inception. The proposed acquisition is being made with an objective to create indigenous capabilities for design, manufacturing, maintenance repair and overhaul including spare support for all types of gas turbines.

The acquisition will be completed by 31 December 2023.

Bharat Forge Ltd had intimated the BSE in this matter.