Bharat Forge Ltd — Regulatory Filings 2021

Sep 4, 2021

BHARAT FORGE

September 04, 2021

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 internal restructuring of EV business.

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

This is in continuation of our intimation dated March 16, 2021, with regard to undertaking of Electric Vehicle (EV) business initiatives under Kalyani Powertrain Limited ("KPL"), a wholly-owned subsidiary of the Company.

In this regard, in order to house all the EV investments of the Company under one entity, the 'Investment Committee - Strategic Business' of the Company at its meeting held on September 03, 2021, has approved the following-

• A. Transfer of the Company's stake in Tork Motors Private Limited ("Tork") to KPL.

1. Infusion of an amount not exceeding Rs. 35 crores by the Company in KPL for subsequent investment by KPL in Kalyani Precision Machining, Inc. renamed for the purpose of EV initiatives as Kalyani Mobility, Inc. ("KMI"), KPL thereby acquiring control in KMI.

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:

SN	ParticularsDetailsTransfer of theAcquisition of control inCompany's stake in TorkKMI by KPLto KPLDetailsand The Company hasdecidedto consolidateitsEVreasonsforbusinessinitiativesunderKPL,awholly-ownedrestructuringsubsidiaryof the Company, for a betterstrategicalignment.
1.	Detailsandreasonsforrestructuring

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KALYANI GROUP COMPANY

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BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: +91 20 6704 2777 FAX: +91 20 2682 0699 !Export), 2682 2387 (Sales/Mktg) 2682 2163 !Materials) Website : www.bhoratforge.com CIN No. l25209PN1961PLC012046

BHARAT FORGE

	BHARAT FORGE	BHARAT FORGE	BHARAT FORGE
	The current stake in Tork The Company has decidedwasacquiredbythe to make an investment inCompany in three tranches.KPLforsubsequentTork is in the business of investmentbyKPLinmanufacturing of electric KalyaniMobility,Inc.vehicles mainly electric two**("KMI")resultinginwheelers and/or premium transfer of control in KMIelectric motorcycles. The from Bharat Forge AmericaCompany has approved the Inc.("BFAI"),**wholly­transfer of the Company's owned subsidiary of thestake in Tork to KPL in Company to KPL. KMI willconsiderationof workongrowingthesubscriptionofequity Company's presence in EVshares of the KPL by the andlightweightCompany.Throughthis technologies in US.transfer of shares Tork will
	b	,ecomeanAssociate
		Company of KPL.
	2.Quantitativeand/or ualitative effectT	heCompanycurrentlyolds 14208 euit sharesThe Company shall infusean amount not exceedin
	qof restructuring, qyof Rs. 10/- each of T ark(48.86%), carrying a bookvalue of Rs. 30.03 crores(Rupees Thirty crores threelakhs only) which shall betransferred to KPL. KPLshall, as a consideration foracquiring the said stake atbook value, issue and allot3,00,30,000 equity sharesof face value of Rs. 10/- atpar value to the Company.gRs. 35 crores by way ofsubscription to the equityshares of KPL. KPL shallsubsequently infuse thesaid amount in KMI by wayof subscription of 475,000shares,designatedascommon stock, of KMI.3.Details of benefit, if There is no benefit to the promoter/promoter group/groupany,tothe companies from the above proposed restructuring.promoter/promotergroup/groupKPL is a wholly owned subsidiary of the Company.companiesfromsuchproposedrestructuring.

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KALYANI GROUP COMPANY

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: +91 20 6704 2777 FAX: +91 20 2682 0699 !Export), 2682 2387 (Sales/Mktg) 2682 2163 (Materials) Website : www.bharatforge.com CIN No. L25209PN1961PLC012046

BHARAT FORGE

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----- Start of picture text ----- Brief details There is no change in in shareholding pattern of any of theof change in entities involved except the following:shareholdingpattern (if Shareholding of Torkany) of allentities Name of the Pre-restructuring Post-restructuringCompanyBFL 48.86% NILKPL NIL 48.86%Shareholding of KMIName of the Pre-restructuring Post-restructuringCompanyBFAI 100% NILKPL NIL 99.99%4.----- End of picture text -----

Kindly take the same on record.

Thanking you,

Yours faithfully, For Bhar/iforge Limited Teja ��audhari f; Com�=cretary & Compliance Officer

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KALYANI GROUP COMPANY

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: +91 20 6704 2777 FAX: +91 20 2682 0699 (Export}, 2682 2387 (Sales/Mktg) 2682 2163 (Materials) Website : www.bharatforge.com CIN No. L25209PN1961 PLC012046