MM Forgings acquires Cafoma Autoparts for ₹33 crore
The Hindu
MM Forgings Ltd. has fully acquired city-based Cafoma Autoparts Pvt. Ltd. for ₹33 crore, including subordinated debt of ₹5 crore. The target company, which is now a wholly owned subsidiary of MMFL, is
MM Forgings Ltd. has fully acquired city-based Cafoma Autoparts Pvt. Ltd. for ₹33 crore, including subordinated debt of ₹5 crore.
The target company, which is now a wholly owned subsidiary of MMFL, is engaged in machining, manufacturing, buying, selling, supplying, export, import, distribute and deal in all shapes, sizes, weights and types of auto parts and engine parts as well as the pre, sub, group and final assembles, it said in a regulatory filing.
The investment would result in business synergy and enhance the current business operation of the company and its potential expansion. Last fiscal, the company reported turnover of ₹8 crore.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.