STOCKWATCH

Bharat Forge Limited successfully raises Rs. 1,650 crores through QIP with 10X demand

Bharat Forge Limited, a leading Indian multinational in high performance, innovative safety critical components, has successfully raised Rs. 1,650 crores through a Qualified Institutional Placement (QIP). The issue, which closed on 9th December 2024, saw more than 10 times the demand of the issue size. Over 90% of the allocation was made to marquee Domestic & Foreign Long Only funds and Insurance Companies. The QIP was issued at Rs. 1,320 per share, lower than the floor price of Rs. 1,323.54 per share. The proceeds will be used for debt repayment and funding of earlier announced inorganic growth initiatives. The company's Vice Chairman & Jt. Managing Director, Amit Kalyani, expressed gratitude to the investors for their trust in the management's transformational journey.

• Bharat Forge Limited raises Rs. 1,650 crores through QIP
• The QIP witnessed more than 10X demand of the issue size
• Over 90% allocation to marquee Domestic & Foreign Long Only funds and Insurance Companies
• The QIP was issued at Rs. 1,320 per share
• Proceeds will be utilized for debt repayment and funding of earlier announced inorganic growth initiatives