Bharat Forge Limited (BFL) has successfully completed the internal restructuring process involving the transfer of its 39.43% stake in TMJ Electric Vehicles Limited to its wholly-owned subsidiary, Bharat Forge International Limited (BFIL). This transfer, finalized on October 10, 2024, is part of a strategic consolidation of BFL’s holdings in the United Kingdom under BFIL for administrative efficiency.
The transaction was executed at a consideration determined by an independent valuation, with BFIL now holding a 41.26% stake in TMJ, classified as an equity instrument at fair value through other comprehensive income. This restructuring simplifies the group’s investment management and aligns its UK holdings more effectively.
Notably, there has been no change in the promoter or group company benefits from the restructuring. The only change in shareholding pattern involves BFIL now holding 41.26% in TMJ, while Bharat Forge Limited no longer holds any direct stake.
