Bharat Forge jumps ~1% as committee nods Rs400 crore fund raise plan

4 Apr 2022 , 09:58 AM

Bharat Forge Limited informed that it received the Investment Committee – Strategic Business of the Company’s approval for the issuance of 2,000 listed, rated, unsecured, redeemable, non-convertible debentures of the face value of Rs10 lakh each, totaling Rs200 crore on a private placement basis.

The company has also approved another fundraising through availing of an unsecured loan up to an amount of Rs200 crore. So, the total fundraise amount stands at Rs400 crore.

Recently, in its meeting held, Bharat Forge informed that the Board has approved a fund-raise plan.

Post this development, Bharat Forge’s scrip opened on a higher note today. It gained 0.91% so far in today’s trade and is currently trading at Rs708.50 against the previous close of Rs702 on NSE. It touched a high and low of Rs711.80 and Rs705.40 respectively so far in the day.