Bharat Forge exits JV

Sells entire 50% stake to JV partner - KPIT Technologies

Bharat Forge announced that the Company has divested its 50 per cent stake in Impact Automotive Solutions, which was formed, earlier in 2010 as a JV with KPIT Technologies. The JV was formed for the manufacture of hybrid solutions for automotive. The stake was sold by the Company to the other JV Partner, KPIT Technologies, for Rs. 10.80 crore against an initial investment of Rs. 14.91 crore.

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