Bharat Forge Limited has received board and shareholder approval to proceed with a Qualified Institutions Placement (QIP). The company’s Investment Committee has approved a floor price of ₹1,947.70 per equity share, determined according to SEBI ICDR Regulations. The preliminary placement document will be filed, and the issue officially opens today, marking a significant step in the company’s capital raising efforts.
Bharat Forge Announces Qualified Institutions Placement
Bharat Forge Limited is moving forward with its planned Qualified Institutions Placement (QIP) of equity shares. This decision follows approvals from the company’s Board of Directors and a subsequent shareholders’ resolution passed via postal ballot. The Investment Committee – Strategic Business has officially considered and approved key aspects of the QIP, signaling progression in the company’s capital-raising strategy.
Key Approvals and Floor Price
Integral to the QIP process, the Committee has approved and adopted the Preliminary Placement Document along with its associated application form. The Issue was officially opened on Thursday, September 17, 2026. A critical element of the placement is the determination of the floor price for the equity shares. The floor price has been set at ₹1,947.70 per Equity Share, calculated based on the pricing formula prescribed under the SEBI ICDR Regulations.
Regulatory Compliance and Next Steps
The ‘Relevant Date’ for the purpose of the Issue, as per Regulation 171(b)(i) of the SEBI ICDR Regulations, is also confirmed as Thursday, September 17, 2026. The floor price of ₹1,947.70 per equity share is in accordance with Regulation 176(1) of the SEBI ICDR Regulations. Bharat Forge has also indicated that it may, at its discretion, offer a discount of not more than 5% on the floor price. The final Issue price will be determined in consultation with the Lead Managers.
The company also noted that the trading window for designated persons had been closed since September 15, 2026, in line with its Insider Trading Code of Conduct, for the purpose of this QIP issue. The information has been made available on the company’s website.
Source: BSE
