Bharat Forge Limited
Bharat Forge Limited has completed its Qualified Institutions Placement (QIP) of equity shares. The Issue was opened on Thursday, September 17, 2026, and closed on Tuesday, September 22, 2026.
Key Resolution Details
The Investment Committee – Strategic Business met on September 22, 2026, from 10:00 p.m. to 10:45 p.m. and passed the following resolutions:
- Approved the closure of the QIP on September 22, 2026, after receiving Application Forms and funds in the Escrow Account from eligible Qualified Institutional Buyers (QIBs)
- Determined and approved the allocation of 1,05,82,010 Equity Shares of face value ₹2 each
- Set the Issue price at ₹1,890.00 per Equity Share, which includes a premium of ₹1,888.00 per share
- The price represents a discount of ₹57.70 per share (2.96%) to the floor price of ₹1,947.70 per Equity Share
- The floor price was determined according to Regulation 176(1) of Chapter VI of the SEBI ICDR Regulations
- Approved and adopted the Placement Document dated September 22, 2026
- Approved finalization of Allocation Note to be sent to eligible QIBs regarding their share allocation
- Approved issuance of refund intimation letters to bidders entitled to refunds, if any
Financial Details
- Total Shares Allocated: 1,05,82,010 Equity Shares
- Face Value: ₹2 per share
- Issue Price: ₹1,890.00 per share
- Total Issue Size: Approximately ₹2,000 crore (1,05,82,010 shares × ₹1,890)
- Price Discount: ₹57.70 per share (2.96% below floor price)
- Floor Price: ₹1,947.70 per share