MM Forgings acquires Cafoma Autoparts for ₹33 crore

October 15, 2021 09:20 pm | Updated 09:20 pm IST - CHENNAI

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.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.