Balu Forge Approves Up to $60M FCCB Issuance

Balu Forge Industries Limited's Board of Directors has approved the issuance of Foreign Currency Convertible Bonds (FCCBs) worth up to USD 60 million on a private placement basis. This move is subject to shareholder and regulatory approvals. The company also approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Additionally, the board proposed an increase in borrowing limits to ₹1,000 crore and the creation of security interests on company properties, both requiring shareholder approval via an EGM. An Extraordinary General Meeting (EGM) is scheduled for September 04, 2026, to seek these approvals.