Bharat Forge Acquires AAM India for ₹746.46 Crore to Boost Auto Portfolio

Defence major Bharat Forge Ltd has completed the acquisition of AAM India Manufacturing Private Limited, a wholly owned subsidiary of American Axle & Manufacturing (AAM), for an equity value of ₹746.46 crore. The deal includes ₹189.48 crore in cash reserves available with the acquired company.

The transaction, first announced in October 2024, received regulatory approval from the Competition Commission of India (CCI) in April 2025. The final equity value remains subject to net working capital adjustments as of June 30, 2025.

AAM India is a leading Tier-1 global automotive supplier, specialising in driveline and drivetrain systems and related components for light trucks, SUVs, passenger cars, crossover vehicles, and commercial vehicles. The company has a significant footprint in India and serves major original equipment manufacturers (OEMs) across both traditional and new mobility platforms.

Bharat Forge said the acquisition aligns with its strategy to expand its global offerings and strengthen its position in the automotive components space.
The acquisition is expected to enhance Bharat Forge’s capabilities by integrating AAM India’s design, engineering, and manufacturing expertise into its existing global operations.