Bharat Forge Board has allowed the proposal to raise Rs. 500 crore. On Wednesday, automobile components giant Bharat Forge told its board. Also accepted a plan to collect some 500 crore by issuing private placement securities.
In a regulatory filing, Bharat Forge reported that its Board had reviewed and approved the authorisation of 5,000 classified, graded, unsecured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregated on a private placement basis to Rs 500 crore.
Furthermore, details on the reasons for the capital raise was not published throug the company.
