◂ Announcements

Sep 1, 2022ACQUISITIONChennai, India

MM Forgings acquires 88% stake in Abhinava Rizel

MM Forgings Ltd. announced the acquisition of an 88% stake in EV powertrain startup Abhinava Rizel Pvt. Ltd. for an undisclosed sum.

Status

Announced

ProductsEV powertraintraction motorsauxiliary motors

CompaniesMM Forgings acquirer Abhinava Rizel target

Sectors#Automotive Components

“MMF on Thursday announced the acquisition of 88% stake in the city-based EV power train start-up Abhinava Rizel Pvt. Ltd. for an undisclosed sum”thehindu.com

1 source
thehindu.comMM Forgings forays into EV space, to invest ₹225 crore in 5 years - The HinduN. AnandSep 1, 2022

Summarized from public sources; check the original articles before acting on it.

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MM Forgings acquires 88% stake in Abhinava Rizel · Endata