Bharat Forge Limited has announced the closure and successful allocation of its Qualified Institutions Placement (QIP). The issue, opened on September 17, 2026, closed on September 22, 2026. A total of 1,05,82,010 equity shares were allocated at an issue price of ₹1,890 per share, with a discount of ₹57.70 to the floor price.
QIP Closure and Allocation
Bharat Forge Limited has officially announced the closure of its Qualified Institutions Placement (QIP) issue. The QIP, which commenced on Thursday, September 17, 2026, concluded on Tuesday, September 22, 2026. This decision was made following the receipt of application forms and funds in the escrow account from eligible Qualified Institutional Buyers (QIBs).
Key Allocation Details
The company’s Investment Committee approved the allocation of 1,05,82,010 Equity Shares. These shares, with a face value of ₹2 each, were allotted at an issue price of ₹1,890.00 per Equity Share. This price represents a discount of ₹57.70 (approximately 2.96%) to the floor price of ₹1,947.70 per Equity Share. The allocation also includes a premium of ₹1,888.00 per Equity Share, determined as per Regulation 176(1) of Chapter VI of the SEBI ICDR Regulations.
Further Approvals
In conjunction with the allocation, Bharat Forge also approved and adopted the Placement Document dated September 22, 2026. Furthermore, confirmations of allocation have been finalized to be sent to eligible QIBs. The company also approved the issuance of refund intimation letters for any bidders entitled to receive a refund.
The meeting of the Committee, where these resolutions were passed, took place today, September 22, 2026, commencing at 10:00 p.m. and concluding at 10:45 p.m.
Source: BSE
