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Bharat Forge Raises –2,000 Crore via QIP; Government of Singapore, ICICI Prudential Among Key Allottees
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CNBC TV18•23-09-2026, 07:54
Bharat Forge Raises –2,000 Crore via QIP; Government of Singapore, ICICI Prudential Among Key Allottees
- •Bharat Forge successfully raised –2,000 crore through a Qualified Institutional Placement (QIP) by allotting 1.05 crore equity shares at –1,890 each.
- •The issue price represents a 5.5% discount to the stock's closing price on Tuesday, September 22.
- •Post-allotment, Bharat Forge's fully paid-up equity share capital increased to –977 crore, comprising 488 crore equity shares.
- •The Government of Singapore was the largest allottee, receiving 17.79 lakh shares, accounting for 16.8% of the total QIP shares.
- •Other significant allottees include ICICI Prudential Funds (10.58 lakh shares), Invesco India (7.4 lakh shares), and various other mutual funds like Axis, Mirae Asset, and DSP.
Key Questions Answered
Bharat Forge raised up to ₹2,000 crore via its qualified institutional placement by issuing 1.05 crore equity shares at an issue price of ₹1,890 per share.
The Government of Singapore was allotted the most equity shares in the QIP, receiving 17.79 lakh shares which accounted for 16.8% of the total QIP shares.
Following the allotment of equity shares in the issue, Bharat Forge's subscribed and fully paid-up equity share capital increased to ₹977 crore, consisting of 488 crore equity shares.
