Bharat Forge said it has divested its 50 per cent stake in Impact Automotive Solutions, which was formed in 2010 as a joint venture with KPIT Technologies.
In a filing to the stock exchange, the company said the tie up was for the manufacture of hybrid solutions for automotives.
The stake has been sold to KPIT Technologies for Rs 10.80 crore. The initial investment was Rs 14.91 crore, Bharat Forge added.