Bharat Forge Completes Acquisition of AAM India Manufacturing
In continuation to the announcement of 17th October 2024, and post receiving approval from CCI on 22nd April 2025 for the transaction, BFL successfully concluded the acquisition of AAM India Manufacturing (AAM India) at an Equity Value of Rs 7,464.6 million including Cash on books of the acquired entity of Rs 1,894.8 million. This cash is available for addressing future growth opportunities.The final equity value is subject to Net Working Capital adjustments as of June 30, 2025.We are acquiring an entity which has a formidable name in the automotive products space supplying to all major OEM ac..
Jindal Steel Wins LoI for Roida-I Iron Ore, Manganese Block in Odisha
Jindal Steel today announced a significant milestone in its strategic growth journey. The Government of Odisha has issued a Letter of Intent (LoI) to the Company for the grant of a 50-year Mining Lease for the Roida-I Iron Ore and Manganese Block, located in Keonjhar District. Spread across 104.84 hectare, this vital mineral resource significantly enhances Jindal Steel’s raw material security and underscores its commitment to integrated and sustainable steel production in India’s mineral-rich eastern corridor.The Roida-I Iron Ore and Manganese Block comes with an Environmental Clearance ca..
Infibeam’s Phronetic.AI and Nawgati Partner to Offer Real-time AI Tech
Nueromind Technologies, a cutting-edge deep-tech AI company owned by Infibeam Avenues, has entered into a Memorandum of Understanding (MoU) with Nawgati Tech, a pioneering deep-tech company transforming India’s fuel and mobility infrastructure. This deal aims to co-develop next-generation AI-powered solutions tailored for the fueling, fleet, and energy sectors to automate reasoning capabilities for accurate decision making on real- time basis by using CCTV-video inputs.Phronetic’s ABM platform is a multimodal technology that combines Video-Language Models (Video- LLMs) with a reasoning mod..
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