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.

• 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	Particulars Details Transfer of the Acquisition of control in Company's stake in Tork KMI by KPL to KPL Details and The Company hasdecidedto consolidateitsEV reasons forbusiness initiatives under KPL, a wholly-owned restructuring subsidiaryof the Company, for a betterstrategic alignment.
1.	Details and reasons for restructuring

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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

				The current stake in Tork	The Company has decided
				was acquired by the	to make an investment in
				Company in three tranches.	KPL for subsequent
				Tork is in the business of	investment by KPL in
				manufacturing of electric	Kalyani Mobility, Inc.
				vehicles mainly electric two	("KMI") resulting in
				wheelers and/or premium	transfer of control in KMI
				electric motorcycles. The	from Bharat Forge America
				Company has approved the	Inc. ("BFAI"), wholly­
				transfer of the Company's	owned subsidiary of the
				stake in Tork to KPL in	Company to KPL. KMI will
				consideration of	work on growing the
				subscription of equity	Company's presence in EV
				shares of the KPL by the	and light weight
				Company. Through this	technologies in US.
				transfer of shares, Tork will
				become an Associate
				Company of KPL.
2.	Quantitative		and/	The Company currently	The Company shall infuse
	or qualitative		effect	holds 14,208 equity shares	an amount not exceeding
	of restructuring			of Rs. 10/- each of T ark	Rs. 35 crores by way of
				(48.86%), carrying a book	subscription to the equity
				value of Rs. 30.03 crores	shares of KPL. KPL shall
				(Rupees Thirty crores three	subsequently infuse the
				lakhs only) which shall be	said amount in KMI by way
				transferred to KPL. KPL	of subscription of 475,000
				shall, as a consideration for	shares, designated as
				acquiring the said stake at	common stock, of KMI.
				book value, issue and allot
				3,00,30,000 equity shares
				of face value of Rs. 10/- at
				par value to the Company.
3.	Details	of benefit, if		There is no benefit to the promoter/promoter group/group
	any,	to	the	companies from the above proposed restructuring.
	promoter/promoter
	group/group			KPL is a wholly owned subsidiary of the Company.
	companies		from
	such	proposed
	restructuring.

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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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Brief details There is no change in in shareholding pattern of any of the
of change in entities involved except the following:
shareholding
pattern (if Shareholding of Tork
any) of all
entities Name of the Pre-restructuring Post-restructuring
Company
BFL 48.86% NIL
KPL NIL 48.86%
Shareholding of KMI
Name of the Pre-restructuring Post-restructuring
Company
BFAI 100% NIL
KPL NIL 99.99%
4.
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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