Bharat Forge announced that its wholly owned subsidiary Kalyani Strategic Systems has entered into a Cornerstone Investment Agreement
(Cornerstone Investment Agreement) with Edgelab S.p.A, Italy (Edgelab) on 13 December 2024 for the acquisition of 25% of Edgelab's equity share capital, pursuant to its proposed initial public offer.
Edgelab is an Innovative SME with expertise in designing and
manufacturing of high-tech vehicles in the field of marine robotics,
with a variety of application areas including scientific research,
archaeology, undersea, offshore applications, underwater
professional and port area control. Edgelab specializes in design
and manufacture of Autonomous Underwater Vehicles for both
civilian purposes and defense applications.