New Delhi: Bharat Forge, a leading global industrial house, has formally executed the allotment of non-convertible debentures (NCDs) worth INR 125 crore, in accordance with Regulations 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Following the announcement made on March 13, 2024, regarding the decision by Bharat Forge’s Investment Committee – Strategic Business, to raise funds amounting to INR 1,250,000,000/- through the issuance of rated, listed, unsecured, redeemable NCDs on a private placement basis, the company has taken concrete steps towards this financial objective.
In a meeting held on March 20, 2024, the Investment Committee officially sanctioned the allotment of NCDs with a face value of INR 1,00,000 each, aggregating to INR 1,250,000,000/-. These NCDs have been allocated to investors identified by the Committee during its session on March 19, 2024.
This development underscores Bharat Forge’s strategic vision to fortify its financial standing, facilitating its growth trajectory and operations. The successful issuance of NCDs underscores the confidence investors place in Bharat Forge’s robust business model and its potential for sustained value creation.
By adhering to regulatory guidelines and maintaining transparency throughout the process, Bharat Forge said that it reaffirms its commitment to corporate governance and stakeholder confidence.
