Bharat Forge Share Price in Focus; Announces Divestment of Stake in REFU Drive GmbH

On July 23, 2026, Bharat Forge Limited announced the divestment of its 50% equity stake in REFU Drive GmbH, a joint venture with REFU Elektronik GmbH, as per the exchange filings.  

This transaction is executed through its wholly-owned subsidiary, Kalyani Powertrain Limited. 

Details of the Divestment Agreement 

On July 22, 2026, Kalyani Powertrain Limited entered into a definitive agreement to sell its entire stake in REFU Drive GmbH to REFU Elektronik GmbH. The sale is valued at €12,500, subject to the terms and conditions outlined in the agreement. 

REFU Elektronik GmbH, based in Pfullingen, Germany, specialises in power electronics and energy management solutions. This transaction will result in REFU Drive GmbH ceasing to be a joint venture of Kalyani Powertrain Limited. 

Financial Implications and Transaction Details 

For the last financial year, REFU Drive GmbH reported a revenue of €14,418,688 and a net worth of €(3,226,560). However, these figures do not form part of Bharat Forge’s consolidated financial statements. 

The transaction is expected to be completed within 6 weeks from the date of the agreement. The sale is classified as a related party transaction and has been conducted on an arm's length basis, as determined by an independent valuation report. 

Read More: Orient Electric Q1 FY27 Results: Revenue Rises 23.5%, Net Profit Jumps Nearly 80% on Strong Demand Across Segments! 

Additional Transaction Information 

The buyer, REFU Elektronik GmbH, does not belong to the promoter or group companies of Bharat Forge. The transaction does not fall within a scheme of arrangement, and there are no slump sale disclosures applicable. 

Bharat Forge Share Price Performance 

As of July 23, 2026, at 9:51 AM, Bharat Forge share price on NSE was trading at ₹2,176.80, down by 0.40% from the previous closing price. 

Conclusion 

Bharat Forge, through Kalyani Powertrain Limited, has divested its 50% equity stake in REFU Drive GmbH for €12,500. This transaction involves REFU Elektronik GmbH and is expected to conclude within 6 weeks. 

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