Bharat Forge to raise ₹500 cr via NCDs
1 min read . Updated: 29 Jul 2020, 02:36 PM IST- Bharat Forge Board has permitted the proposal of raising Rs. 500 crore through issuing securities on a placement basis
NEW DELHI : Auto components major Bharat Forge on Wednesday said its board has approved proposal to raise ₹500 crore by issuing securities on a private placement basis.
The company's board has discussed and approved the issuance of 5,000 listed, rated, unsecured, redeemable, non-convertible debentures (NCDs) of face value ₹10 lakh each aggregating to ₹500 crore on a private placement basis, Bharat Forge said in a regulatory filing.
The company, however, did not share details about the reasons for raising the capital.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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