Bharat Forge Limited has announced the launch of its Qualified Institutions Placement (QIP) of equity shares to raise funds from institutional investors. The company has set a floor price of ₹1,323.54 per share for the issue, determined as per SEBI’s ICDR regulations. Additionally, Bharat Forge has stated that it may offer a discount of up to 5% on the floor price, depending on market conditions and investor feedback.
The final issue price and size will be decided in consultation with the appointed book-running lead managers. Bharat Forge has also confirmed that the Preliminary Placement Document related to the QIP has been filed with the BSE and NSE to ensure compliance with regulatory requirements.
The company highlighted that the QIP marks a significant step in its efforts to strengthen its financial position and support future growth plans. As part of its corporate governance measures, the trading window for insiders has been closed since September 25, 2024, and will remain shut until further notice.
The announcement underscores Bharat Forge’s commitment to maintaining transparency and adhering to regulatory norms while leveraging capital market opportunities to enhance shareholder value.
