Bharat Forge has successfully completed the acquisition of AAM India Manufacturing Private Limited for an equity value of ₹7,464.6 million, which includes ₹1,894.8 million in cash available on the acquired company’s books. This cash will be utilised for driving future growth opportunities. The final equity value is subject to net working capital adjustments as of June 30, 2025.
The acquisition, originally announced on October 17, 2024, received clearance from the Competition Commission of India (CCI) on April 22, 2025.
AAM India, a subsidiary of American Axle & Manufacturing (AAM), is a well-known name in the automotive industry. The company is a leading global Tier-1 supplier that designs, engineers, and manufactures driveline and drivetrain systems and components for light trucks, SUVs, passenger cars, crossover vehicles, and commercial vehicles. With a strong presence in India, AAM India has built deep relationships with major OEMs across traditional and new mobility technologies.
With this deal, Bharat Forge strengthens its footprint in the automotive products space, gaining access to AAM India’s strong supply relationships with major OEMs across both traditional and new mobility technologies. The move is expected to significantly enhance Bharat Forge’s component portfolio by adding product solutions tailored for both domestic and global markets.
Operating across five countries with 18 manufacturing locations, Bharat Forge brings a deep understanding of engineering, design, and manufacturing, positioning it to extract maximum value from this strategic acquisition.
