Bharat Forge adds ~1% ahead of fundraising plan on April 2

31 Mar 2022 , 11:32 AM

Bharat Forge Limited’s counter opened at a higher note on Thursday in the late morning trade and added nearly 1% so far following the company’s announcement to consider a strategic fundraising plan.

It jumped to a high of Rs712.65 so far in the day and is currently trading at Rs706.90 on National Stock Exchange.

Bharat Forge informed that in pursuance of the delegation of the Board of Directors in its meeting held on February 10, 2022, a meeting of the Investment Committee – Strategic Business of the Company, is scheduled to be held on Saturday, April 02, 2022, to seek approval for raising funds either through term loan, non-convertible debentures or any other instruments as may be appropriate.

However, the company did not give any estimate of the amount to be raised. Further information will be available as the meeting will be conducted and concluded.