Bharat Forge Limited — QIP/Rights/Pref., 09-12-2024: Allotment of Securities

Bharat Forge has announced a Qualified Institutions Placement (QIP), issuing 12,500,000 equity shares at an issue price of ₹1,320 per share, enabling the company to raise ₹1,650 crore. The shares were allotted to 95 eligible Qualified Institutional Buyers. After this allotment, the total paid-up equity share capital increases to ₹956,177,264, comprising 478,088,632 shares. This capital infusion is likely aimed at strengthening the company's financial base and supporting growth initiatives.