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Bharat Forge to raise Rs 500 crore via NCDs

The company's board has discussed and approved the issuance of 5,000 listed, rated, unsecured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis, Bharat Forge said in a regulatory filing.

July 29, 2020 / 02:13 PM IST
 
 
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Auto components major Bharat Forge on Wednesday said its board has approved proposal to raise Rs 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 Rs 10 lakh each aggregating to Rs 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.
PTI
first published: Jul 29, 2020 02:05 pm

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