Bharat Forge plans $300mn GDRs/FCCBs

The members of Bharat Forge, at the extra ordinary general meeting (EGM) of the company held on March 30, 2005, appointed committee of directors for the purpose of GDRs/ FCCBs issues.

According to a release issued by Bharat Forge to the BSE, the committee of directors, at its meeting held on March 31, 2005, have proposed to raise $300 million through the issue of Global Depository Receipts (GDRs) and/or Foreign Currency Convertible Bonds (FCCBs), subject to market conditions.