Indian company Bharat Forge – a subsidiary of the Kalyani Group – has entered an agreement to acquire a 26% stake in defence technology company Aeron Systems, which is based in the city of Pune in the western Indian state of Maharashtra.
Bharat Forge, which is also headquartered in Pune, said in a filing to the Bombay Stock Exchange on 22 May that the acquisition features its purchase of 97,000 shares for INR100 million (USD1.4 million). The deal will be completed over three tranches between June 2019 and March 2020.
Aeron Systems is engaged in developing products including sensors, inertial navigating systems, and internet of things devices for sectors including defence, aerospace, and automotive. Read More