Sunita Tools forms 50:50 JV in Bulgaria defence sector

Sunita Tools Ltd has executed a Joint Venture agreement to acquire a 50% stake in a Bulgarian defense industry entity. The agreement, signed on October 24, 2026, aims to expand the company's presence in the European defense sector. The acquisition is subject to due diligence, independent valuation, and regulatory approvals in India and Bulgaria. The target entity, incorporated in March 2002 with a share capital of EUR 25,500, operates in the defense industry. The JV is expected to be completed within 90 days and will provide Sunita Tools access to defense registrations in Finland, Sweden, South Korea, and other European/NATO countries.