# 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.

- Type: Acquisition
- Announced: 2022-09-01
- Where: Chennai, India
- Status: announced
- Products: EV powertrain, traction motors, auxiliary motors
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [MM Forgings](https://endata.com/companies/65080.md) (acquirer)
- [Abhinava Rizel](https://endata.com/companies/65081.md) (target)

## Sources

- [thehindu.com](https://www.thehindu.com/business/mm-forgings-forays-into-ev-space-to-invest-225-crore-in-5-years/article65836587.ece), 2022-09-01: "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"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.