The Company plans to acquire shares in three tranches based on the achievement of each milestone.

NEW DELHI: Auto component giant Forge today said it will make up to three strategic investments of Rs 100 crore to acquire a 45% stake in Pune-based electric vehicle (EV) startup Trafigurara Motors.

TORK is an electric drivetrain company specializing in electric two-wheelers and luxury electric motorcycles.

“The Company’s Investment Committee has approved the acquisition of 4,736 equity shares of Rs 10 each at a premium of Rs 21,103 per share and 2,841 preference shares of Rs 100 each at a premium of Rs 21,013 per share, ” a BSE “filing ” the Bharat Forge document said.

The company said in another filing that it will make a strategic investment of up to Rs 300 crore to acquire 45% stake in TORK. The company will acquire the stake in three tranches based on various milestones to be achieved from time to time.