Bharat Forge Limited (BFL) on Thursday announced the acquisition of a 30 per cent stake in Fortuna Engineering Private Limited (FEPL or Fortuna) at an equity value of ₹129.60 crore, subject to final closing adjustments.
Established in 1989, Fortuna Engineering Private Limited is a leading manufacturer of precision-machined engine components for automotive and industrial applications in India. The company supplies to major automotive OEMs in India across the passenger vehicle, commercial vehicle, tractor and off-highway segments.
Commenting on the partnership, Amit Kalyani, Vice Chairman and Joint Managing Director, Bharat Forge Limited, said, “We are pleased to enter into this partnership with Fortuna, a leading supplier of machined components for a wide range of applications in India. We are impressed by the company’s capabilities, operating track record and reputation in the market. We look forward to working closely with the promoters and management team of Fortuna to scale the business further and build on the significant opportunities ahead.”
Suriya Narayanan, Chairman and Managing Director, Fortuna Engineering Private Limited, said, “We are delighted to welcome Bharat Forge as a strategic partner in Fortuna’s growth journey. This partnership is a significant milestone for us and a strong enabler for our next phase of growth across new products, new customers and new geographies. We see this partnership as a powerful opportunity to strengthen our contribution to the ‘Make in India’ vision by building world-class capabilities in India for global requirements. With Bharat Forge’s experience, scale and strategic strength, we believe Fortuna is well positioned to pursue the next wave of stellar growth opportunities in India and international markets.”
The completion of the transaction remains subject to the satisfaction of customary conditions precedent and other applicable approvals.