Bharat Forge Limited , a leading Indian multinational company, has taken a significant step to strengthen its position in the global defence market. The company has announced the incorporation of a new step-down subsidiary, Aegis Advanced Systems SL, in Spain through a joint venture with Duma Engineering.

Joint Venture Details

Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of Bharat Forge, has partnered with Duma Engineering Group S.L. (DUMA) to establish Aegis Advanced Systems SL. The joint venture was incorporated on July 17, 2025, following an agreement between the two companies.

Ownership Structure and Capital

Bharat Forge, through KSSL, holds a 90% stake in the new entity, with an initial investment of EUR 2,700.00 in cash. The authorized capital and the issued, subscribed, and paid-up capital of Aegis Advanced Systems SL are set at EUR 3,000.00.

Strategic Objectives

The primary aim of this joint venture is to collaborate on developing technology, product platforms, and solutions related to defence products. Aegis Advanced Systems SL will focus on addressing the needs of Indian, European, and certain other export markets in the defence sector.

Regulatory Compliance

The company has complied with the necessary regulatory requirements, including intimation to the stock exchanges as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The incorporation of Aegis Advanced Systems SL is subject to regulatory approvals under Spanish law.

Impact on Bharat Forge

This strategic move is expected to create growth opportunities and facilitate business expansion for both KSSL and DUMA, aligning with their long-term goals in the defence industry. As a step-down subsidiary, Aegis Advanced Systems SL will contribute to Bharat Forge's efforts to enhance its global defence footprint.

The establishment of this joint venture underscores Bharat Forge's commitment to expanding its presence in the international defence market and leveraging partnerships to drive innovation and growth in this sector.

Bharat Forge , a leading Indian multinational corporation, has made a strategic move to strengthen its position in the global defense industry. The company has established a new step-down subsidiary named 'Aegis Advanced Systems SL' in Spain, marking a significant expansion of its international defense presence.

Joint Venture Details

The new entity, Aegis Advanced Systems SL, is a result of a partnership between Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of Bharat Forge, and Duma Engineering Group S.L. (DUMA). This joint venture was incorporated on July 17, following a Joint Venture Agreement between the two companies.

Ownership Structure

KSSL has taken a majority stake in the new venture, holding 90% of the shareholding with an initial investment of EUR 2,700.00 in cash. This strategic move makes Aegis Advanced Systems SL a step-down subsidiary of Bharat Forge Limited.

Strategic Objectives

The primary focus of Aegis Advanced Systems SL will be to:

• Develop advanced technology and product platforms
• Create innovative solutions for defense products
• Address markets in India, Europe, and other export destinations

This collaboration aims to leverage the strengths of both KSSL and DUMA to explore new growth opportunities and expand their business in the defense sector.

Financial Details

The newly formed company has an authorized capital of EUR 3,000.00, which is fully issued, subscribed, and paid up. As a newly incorporated entity, Aegis Advanced Systems SL currently has no turnover to report.

Regulatory Compliance

Bharat Forge has ensured compliance with regulatory requirements by making the necessary disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also obtained the required regulatory approvals under Spanish law for this international venture.

Impact on Bharat Forge

This strategic move is expected to enhance Bharat Forge's capabilities in the defense sector and provide access to new markets. By establishing a presence in Spain, the company is well-positioned to tap into European defense opportunities and strengthen its global competitiveness.

The formation of Aegis Advanced Systems SL aligns with Bharat Forge's long-term vision of expanding its defense business and creating value through international partnerships. As the global defense landscape continues to evolve, this new subsidiary is poised to play a crucial role in Bharat Forge's future growth and innovation in the sector.