Balu Forge Board Approves ₹1000 Cr Borrowing Limit, USD 60M FCCB Issue

Balu Forge Industries Limited's Board of Directors met on August 12, 2026, approving the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board also greenlit a proposal to raise up to USD 60 million via Foreign Currency Convertible Bonds (FCCBs) on a private placement basis. Additionally, the company plans to increase its overall borrowing limits to ₹1,000 crore and create security interests on its assets, subject to shareholder approval at an upcoming EGM scheduled for September 4, 2026. The meeting commenced at 5:45 PM IST and concluded at 7:00 PM IST.