Bharat Forge Limited — QIP/Rights/Pref., 09-12-2024: Qualified Institutional Placement

Bharat Forge has announced a Qualified Institutions Placement, raising ₹1,650 Cr by issuing 1,25,00,000 equity shares at an issue price of ₹1,320 each, reflecting a discount of ₹3.54 to the floor price. The placement was opened on December 4 and closed on the same day as the approval of allocation to eligible Qualified Institutional Buyers (QIBs). A Placement Document has been adopted, and refund intimation letters will be issued to bidders eligible for any refunds. This initiative strengthens the company's capital position, supporting its strategic business objectives.