Bharat Forge QIP: Rs 1,650 Crore Fundraise - Check Share Price Today

Bharat Forge Limited has achieved a significant milestone by successfully closing its Qualified Institutional Placement (QIP), raising Rs 1,650 crore.

‘Bharat Forge Limited is pleased to inform about the successful fund raise of Rs 1,650 Crores with the closure of its qualified Institutional Placement (QIP) on 9th December,2024,’ the company stated in the exchange filing.

Bharat Forge’s QIP
The QIP witnessed tremendous interest, with the issue being oversubscribed more than 10 times. Domestic and international institutional investors showcased remarkable confidence in Bharat Forge’s strategic vision.

Over 90% of the allocation went to marquee long-only funds and insurance companies, highlighting their trust in the company’s potential.

Bharat Forge’s QIP floor price 
The QIP was priced at Rs 1,320 per share, slightly below the SEBI -prescribed floor price of Rs 1,323.54 per share.

The funds raised will primarily be utilized for repaying existing debt and supporting Bharat Forge’s inorganic growth initiatives, reinforcing its position as a global leader in advanced manufacturing and engineering.

Vice Chairman and Joint Managing Director Amit Kalyani expressed his gratitude for the investor support. “ We are thankful to the existing and new investors for the overwhelming response to the capital raise and for reaffirming their trust in the management in the transformational journey we are undertaking. We are committed to delivering enhanced growth creating value for all the stakeholders.”

Partners in the Process
Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited acted as the Book Running Lead Managers (BRLMs) for the issue.

Bharat Forge share price today 
Bharat Forge stock opened at Rs 1,365.15 today, slightly higher than the previous close of Rs 1,363.20. As of now, following news of a QIP, the stock is trading at Rs 1,373.70, up by Rs 10.50 (+0.77%). 

The company’s market capitalization stands at Rs 63,945.88 crore, with a 52-week high of Rs 1,826.20 and a 52-week low of Rs 1,063.40. 

Bharat Forge share price history 
Over various time periods, the stock has shown the following performance: a 1-week gain of 1.72%, a 1-month decline of 3.26%, a 6-month drop of 13.12%, a 1-year gain of 16.67%, a 5-year rise of 212.12%, and a 10-year increase of 184.48%.