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Sundaram Finance Holdings Limited (SFHL) announced today the completion of its acquisition of Forge 2000 Private Limited. The company has acquired a 100% stake in the automotive forge components manufacturer for Rs. 16 crores.
In a filing with the National Stock Exchange, SFHL confirmed that it has purchased 20,00,000 equity shares at Rs. 80 per share. The transaction follows an earlier notification to the exchange on February 21, 2025.
“Following the completion of the acquisition, Forge 2000 Private Limited has become a wholly owned subsidiary of the company,” stated S. Kalyanaraman, Secretary and Compliance Officer of SFHL, in the regulatory filing.
Forge 2000, incorporated in 2000, manufactures forge components for the automobile industry. The company specializes in forging, pressing, stamping, and roll forming of metal powder metallurgy, primarily engaging in job work for the automotive sector.
The acquired company has shown consistent financial performance over recent years, with reported turnover of Rs. 26.90 crores in fiscal year 2023-24, up from Rs. 26.32 crores in 2022-23 and Rs. 22.33 crores in 2021-22.
According to the disclosure, Sundaram Finance Limited, the promoter of SFHL, does not hold any shares in Forge 2000. However, certain members of SFHL’s promoter group maintained limited shareholding interests in the acquired entity. The company confirmed that it secured prior approval from its Audit Committee for the acquisition, which was conducted on an arm’s length basis.
No governmental or regulatory approvals were required for completing the transaction.
Sundaram Finance Holdings Limited (SFHL) is a Chennai-based investment company that primarily focuses on automotive and manufacturing sectors. Listed on the National Stock Exchange with the symbol SUNDARMHLD, the company operates as a holding entity with investments in various automotive component manufacturers.
SFHL was established in 1993 and is part of the Sundaram Finance Group, a well-established financial services conglomerate in India. The company’s registered office is located at Patullos Road in Chennai. SFHL follows a strategy of acquiring stakes in manufacturing companies, particularly those serving the automobile industry, to expand its portfolio and create long-term value for shareholders through strategic investments.
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