Bharat Forge Subsidiary Kalyani Powertrain to Divest 50% Stake in German Joint Venture REFU Drive GmbH

Kalyani Powertrain Limited, along with Bharat Forge Limited, executed a definitive agreement on July 22, 2026, with REFU Drive GmbH and joint venture partner REFU Elektronik GmbH to sell and transfer KPTL's entire 50% equity stake in REFU Drive GmbH.

Transaction Details and Consideration

Under the terms of the agreement, Kalyani Powertrain Limited will transfer its 50% equity holding to co-venturer REFU Elektronik GmbH for a consideration of EUR 12,500.00, payable upon transaction closing. The sale process is expected to reach completion within six weeks from the execution date of the agreement.

Upon completion of the transaction, REFU Drive GmbH will cease to be a joint venture of Kalyani Powertrain Limited and Bharat Forge Limited.

Buyer Profile and Governance Disclosures

The acquiring entity, REFU Elektronik GmbH, is a specialized power electronics firm headquartered in Pfullingen, Germany, focused on solar photovoltaic (PV) inverters, battery energy storage systems, and energy management solutions. REFU Elektronik GmbH does not belong to the promoter, promoter group, or group companies of Bharat Forge Limited.

While the divestment constitutes a related party transaction involving KPTL and REFU Elektronik GmbH, Bharat Forge confirmed that the consideration was determined through an independent valuation report and that the transaction was conducted on an arm's length basis. The disposal is being executed outside of any Scheme of Arrangement.

Shares of Bharat Forge Limited was last trading in BSE at Rs. 2184.05 as compared to the previous close of Rs. 2202.80. The total number of shares traded during the day was 28385 in over 3888 trades.

The stock hit an intraday high of Rs. 2214.00 and intraday low of 2177.80. The net turnover during the day was Rs. 62268664.00.

Source : Equity Bulls

Keywords

BharatForge INE465A01025 StakeSale Germany JV REFUDriveGmbH