Bharat Forge Successfully Completes ₹1,650 Crore Fundraising via QIP
On December 10, 2024, Bharat Forge Limited announced the successful closure of its Qualified Institutional Placement (QIP), raising ₹1,650 crores. This marks a significant milestone for the Pune-based multinational company as it continues its growth trajectory and financial transformation.

The QIP issue closed on December 9, 2024, and was met with an overwhelming response, with demand exceeding 10x the issue size. The issue price was set at ₹1,320 per share, slightly below the SEBI-regulated floor price of ₹1,323.54 per share.

Allocation and Investor Interest
Over 90% of the allocation went to prominent domestic and foreign long-only funds and insurance companies, highlighting strong investor confidence in Bharat Forge's strategic direction and operational performance.

Utilization of Funds
The proceeds from the QIP will be strategically utilized to:

• Repay existing debt, thereby strengthening the company’s financial position.
• Support previously announced inorganic growth initiatives, enabling Bharat Forge to expand its global footprint and diversify its portfolio.

Leadership Perspective
Commenting on the successful fundraising, Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge, stated:
"We are thankful to the existing and new investors for the overwhelming response to the capital raise and for reaffirming their trust in the management. We are committed to delivering enhanced growth and creating value for all stakeholders."

Lead Managers and Legal Advisors
The QIP was managed by:

• Kotak Mahindra Capital Company Limited
• Morgan Stanley India Company Private Limited

Legal advisory services were provided by:

• Khaitan & Co for Bharat Forge
• Shardul Amarchand Mangaldas & Co. and Freshfields Bruckhaus Deringer for the book-running lead managers (BRLMs).

About Bharat Forge
Bharat Forge Limited, a flagship company of the Kalyani Group, is a global leader in high-performance, safety-critical components and solutions. Its offerings span multiple sectors, including:

• Automotive
• Power
• Oil and Gas
• Construction and Mining
• Rail, Marine, Defense, and Aerospace

With a global manufacturing footprint across five countries, Bharat Forge combines metallurgical expertise with cutting-edge engineering to serve its marquee clients worldwide.

Strategic Vision and Growth
The QIP underscores Bharat Forge's commitment to sustainable growth, financial stability, and value creation. By leveraging this capital infusion, the company is well-positioned to enhance its global competitiveness and drive innovation in key sectors.

As Bharat Forge navigates its transformational journey, the fundraising demonstrates its ability to attract top-tier investors and execute growth strategies effectively, reaffirming its position as a market leader in India and beyond.

For further updates, visit the company’s website at www.bharatforge.com.

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