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Bharat Forge announced that Kalyani Powertrain Ltd (KPTL), a wholly owned subsidiary of the Company along with the Company, has executed a Definitive
Agreement dated July 22, 2026 with REFU Drive GmbH ("REFU"), a joint venture Company of KPTL and REFU Elektronik GmbH.
In terms of the aforesaid Agreement, KPTL has agreed to sell and transfer its entire 50% equity stake, held in REFU to REFU Elektronik GmbH for a consideration of EUR 12,500.00.
Upon completion of the aforesaid transaction, REFU shall cease to be a joint venture of KPTL.
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