Bharat Forge’s step-down subsidiary, Agneyastra Energetics, has signed an agreement with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for a massive land acquisition in the state.
Agneyastra, incorporated through Kalyani Strategic Systems (KSSL) – a wholly owned subsidiary of Bharat Forge – will purchase around 949.65 acres of land in Madakasira, Anantapur district, Andhra Pradesh.
Bharat Forge’s defence growth push
The company plans to use this land to set up a large End-to-End Defence Energetics Manufacturing Complex.
According to the company, the complex will include a high explosives manufacturing plant, an ammunition filling unit, and a gun propellant facility. It also aims to provide space for future expansion into energetics for rockets, missile systems, and space launch vehicles, along with advanced energetics.
Bharat Forge restructures defence business
Earlier, Bharat Forge had approved a Business Transfer Agreement (BTA) with KSSL, a move to restructure its defence business.
Under the agreement, Bharat Forge will transfer identified assets and related obligations of its defence business to KSSL on an itemized sale basis for a consideration of Rs 4,533 million.
Additionally, Bharat Forge and KSSL had also signed an Intellectual Property Rights Licensing Agreement.
Bharat Forge share price
The share price of Bharat Forge has seen a significant decline in the past few months, falling 13.12 per cent so far in 2025.