Pune-based Bharat Forge Limited completed a Qualified Institutional Placement (QIP) on December 9, 2024, raising ₹1,650 crore. The issue attracted significant investor interest, with demand exceeding 10 times the issue size.

The shares of Bharat Forge Limited were trading at ₹1,365.80, up by ₹2.35 or 0.17 per cent on the NSE today at 10.17 am.

More than 90 per cent of the allocation was directed to domestic and foreign long-only funds and insurance companies. The shares were priced at ₹1,320 per share, slightly below the SEBI-determined floor price of ₹1,323.54.

Amit Kalyani, Vice Chairman & Joint Managing Director, thanked investors for their support during the company’s transformational phase. The proceeds will be primarily used for debt repayment and funding previously announced inorganic growth initiatives.

Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited served as Book-Running Lead Managers for the issue. Khaitan & Co. provided legal counsel for the transaction, with Shardul Amarchand Mangaldas & Co. and Freshfields Bruckhaus Deringer advising the lead managers.

Bharat Forge is a global leader in manufacturing high-performance components. It operates in five countries and has expertise in sectors including automotive, power, defense, and aerospace.