Bharat Forge (NSE:BHARATFORG, BOM:500493) has completed the acquisition of AAM India Manufacturing at an equity value of 7.46 billion Indian rupees, including 1.89 billion rupees in cash held by the acquired entity, according to a Wednesday release filed with the Indian bourses.

The final equity value remains subject to net working capital adjustments as of June 30, the company said in the disclosure.

Bharat Forge said the acquisition strengthens its position in the automotive space by complementing its existing component portfolio with product solutions for both traditional and new mobility original equipment manufacturers in India and globally.