Bharat Forge launches QIP with floor price of Rs 1,323.54/share

Bharat Forge announced that its board has approved the opening of issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,323.54 per share.

The company's board authorized and declared the opening of the issue on Wednesday, 4 December 2024.

The floor price of Rs 1,323.54 is at a discount of 3.95% to the previous day's closing price of Rs 1,377.90 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The issue price will be determined by the company in consultation with the bookrunning lead manager appointed for the issue.

 

Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.

The companys consolidated net profit rose 7.2% to Rs 243.59 crore despite a 2.3% decline in net sales to RS 3,688.51 crore in Q2 FY25 over Q2 FY24.

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