Bharat Forge Ltd — Capital/Financing Update 2022

Feb 1, 2022

B H A R A T F O R GE

February 1 , 2022

To,

BSE Limited,

1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE SCRIP CODE - 500493

National Stock Exchange of India Limited

'Exchange Plaza', Bandra-Kurla Complex, Sandra (East) Mumbai- 400 051 Symbol: BHARATFORG Series: EQ

Dear Sir,

Sub.: Intimation of Acquisition of additional shares of Tevva Motors (Jersey) Ltd pursuant to the conversion of Convertible Loan Note ("CLN").

Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform you that the Company along-with Bharat Forge International Limited ("BFIL") which is a subsidiary of the Company has acquired additional 366,451 fully diluted equity shares of Tewa Motors (Jersey) Ltd, pursuant to the conversion of the Convertible Loan Note ("CLN").

The Company along with BFIL prior to the conversion, was holding 34.45% of the Equity Share Capital of Tevva Motors (Jersey) Ltd, consequent to the conversion of the CLN into Equity shares , the aggregate shareholding of the Company increased to 39.71%.

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD4/2015 dated September 09, 2015 are as follows:

a)	Name of the target entity, details in brief such as size, turnover etc.	Name:Tevva Motors (Jersey) Limited ("TEWA") 2nd Floor, The Le Gallais Building, 54 Bath Street, St Helier, Jersey, JE1 1 FW Authorized Capital:£3,000,000 divided into 3,00,000,000,000 shares of £0.00001 each Issued, Subscribed & Paid-up Capital 2,812,563 of £0.00001 each

BHARAT FORGE

		Turnover : Nil
b)	Whether the acquisition would fall	Being an associate, TEVVA is a related
	within related party transaction(s)	party of Bharat Forge Limited.
	and whether the promoter/
	promoter group/ group companies
	have any interest in the entity being	The promoter / promoter group/ group
	acquired?	companies do not have any interest in
		TEWA.
	If yes, nature of interest and details
	thereof and whether the same is
	done at "arm's length";
c)	Industry to which the entity being	Electric Vehicle solution for commercial
	acquired belongs;	vehicles.
d)	Objects and efects of acquisition	The Company along with BFIL had
	(including but not limited to,	subscribed to the CLN of TEW A.
	disclosure of reasons for
	acquisition of target entity, if its	Considering its future business
	business is outside the main line of	initiatives, it has chosen to subscribe to
	business of the listed entity);	the additional equity shares which were
		issued pursuant to the conversion of the
		CLN.
e)	Brief details of any governmental or	NA
	regulatory approvals required for
	the acquisition;
f)	Indicative time period for	Completed
	completion of the acquisition;
g)	Nature of consideration - whether	The Company has acquired shares
	cash consideration or share swap	pursuant to the conversion of CLN.
	and details of the same;
h)	Cost of acquisition or the price at	£13.37 pound per share
	which the shares are acquired;
i)	Percentage of shareholding /	The Company has acquired 366,451
	control acquired and / or number of	equity shares of TEWA along with its
	shares acquired;	subsidiary BFIL.
		With this acquisition, total shareholding
		has increased from 34.45% to 39. 71 %.

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KALYANI
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BHARAT FORGE LIMITED, MUNDHWA, PUNE41 I 036, MAHARASHTRA, INDIA. PHONE:+ 91 206704 2476 6704 2777 (Secretarial) Fax 020 2682 216 3 CIN l25209PNl961PLC0l2046 Email: �Jc:lari' @bha11:1Lforg,;cQ.1n WEBSITE: www.bharatforge.com

BHARAT FORGE

j) Brief background about the entity Brief background: acquired in terms of products/line of business acquired, date of TEVVA is incorporated in Jersey on 1[5][th ] incorporation, history of last 3 years January, 2013. It is the world's leading turnover, country in which the developer of extended-range electric acquired entity has presence and trucks (EREVs) and is also developing any other significant information (in sophisticated software for autonomous brief); vehicle pollution management in urban and in environmentally-sensitive locations having its presence in the UK and EU countries.

The turnover of TEWA for past 3 years is as follows: i. For (FY 20-21 ): Nil ii. For (FY 19-20): Nil iii. For (FY 18-19): Nil

Kindly take the same on record.

Thanking you.

Yours faithfully, For Bh�t Forge Limited \�� Tej�i �haudhari Company Secretary & Compliance Officer

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KALYAN I

BHARAT FORGE LIMITED, MUNDHW A, PUNE 411 036, MAHARASHTRA, INDIA PHONE:+ 91 206704 2476 6704 2777 (Secreta1ial} Fax 020 2682 2163 CIN L25209PN196IPLC0I2046 Email: f.!mllrinltl>blrratfrgl! .. !.Qffi WEBSITE: www.bharatforge.com