Pune-based Bharat Forge plans to raise ₹2,500cr for growth
Business
Pune-based Bharat Forge just announced plans to raise up to ₹2,500 crore.
They might do this by selling new shares or taking on debt: think rights issues, QIPs, or even foreign currency convertible bonds.
The goal? Fuel their next phase of growth.
Bharat Forge awaits shareholder, regulator approvals
This fundraising still needs a green light from shareholders and regulators. Details like timing and pricing will be sorted by their investment committee.
It all ties into Bharat Forge's bigger strategy, including a new Malaysian subsidiary focused on semiconductors.
For context: last quarter, their revenue jumped nearly 19%, but profits took a hit from a one-time loss.
Their stock was recently trading lower at ₹2,179.85 on the NSE.