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Bharat Forge Launches QIP, Sets Floor Price At ₹1,323.54 Per Share

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Synopsis:

Bharat Forge launches its Qualified Institutions Placement with a floor price of ₹1,323.54 per share. Shares rose 2.1% to ₹1,379. Bharat Forge share price reflects positive investor sentiment.

Bharat Forge news today

Bharat Forge Ltd has announced the launch of its Qualified Institutions Placement (QIP) at a floor price of ₹1,323.54 per share. The move, approved by its Investment Committee, adheres to SEBI regulations, with the company offering the option of a discount of up to 5% on the set floor price. This initiative follows shareholder approval granted via postal ballot on November 8, 2024, and is aimed at raising capital to enhance its operations and profitability.

Also read: Torrent Pharma To Acquire 3 Anti-Diabetes Brands From Boehringer

BHARAT FORGE LTD

Trade

1348.3-4.14 (-0.30 %)

Updated - 13 December 2024
1356.05day high
DAY HIGH
1318.95day low
DAY LOW
580701
VOLUME (BSE)

Key Takeaways

  • Floor Price: ₹1,323.54 per share as per SEBI guidelines.

  • Discount Option: Up to 5%, as approved by shareholders.

  • Submission Date: Preliminary placement document submitted on December 4, 2024.

  • Trading Window Closure: Effective since September 25, 2024, until further notice.

Also read: Vodafone Idea Board to Meet on Dec 9 to Discuss ₹2,000 Crore Fundraising

Quarterly Performance Overview

Bharat Forge’s revenue and net profit for the September quarter showed marginal growth. Revenue remained steady at ₹2,246 crore, compared to ₹2,249 crore in the same period last year. Net profit increased slightly by 4.4% to ₹361.1 crore from ₹346 crore last year.

Metric

Q2 FY2024

Q2 FY2023

Growth

Revenue

₹2,246 crore

₹2,249 crore

Flat

Net Profit

₹361.1 crore

₹346 crore

4.4% increase

Bharat Forge Share Price

₹1,379 (Dec 4)

N/A

2.1% increase

QIP Impact On Bharat Forge Share Price

Shares of Bharat Forge ended 2.1% higher at ₹1,379 on December 4, reflecting investor optimism about the QIP’s potential to boost the company’s financial strength. The company expects stable performance in the second half of the fiscal year, focusing on improving profitability across its subsidiaries.

Bharat Forge’s QIP launch marks a significant step towards capital optimisation, with a floor price of ₹1,323.54 offering a structured approach to fund infusion. The Bharat Forge share price has responded positively, indicating investor confidence in the company’s future prospects.

Also read: Bondada Engineering Secures ₹108.9 Crore Order From BREDA

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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