Bharat Forge Limited announced that Kalyani Powertrain Limited (KPTL) has completed the divestment of its entire 50% equity stake in REFU Drive GmbH. The stake was transferred to REFU Elektronik GmbH, effectively ending REFU’s status as a joint venture of KPTL. This action follows an earlier intimation on July 23, 2026, regarding the proposed divestment.
Kalyani Powertrain Completes Subsidiary Divestment
Bharat Forge Limited has officially confirmed the completion of a significant divestment by its subsidiary, Kalyani Powertrain Limited (KPTL). In an announcement dated September 2, 2026, the company stated that KPTL has transferred its entire 50% equity stake in REFU Drive GmbH. This stake has been acquired by REFU Elektronik GmbH.
Shift in Joint Venture Status
With the completion of this transaction, REFU Drive GmbH is no longer considered a joint venture of KPTL. This development supersedes previous communications regarding the divestment, with the initial intimation having been made on July 23, 2026. The detailed disclosures previously provided remain amended to reflect this completed transaction.
Source: BSE
