Bharat Forge board approves proposal 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
- Jul 29, 2020,
- Updated Jul 29, 2020 3:56 PM IST
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.
Also read: Coronavirus effect: Puma foresees unpredictable 2020 after quarterly sales, profits nosedive
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.
Also read: Coronavirus effect: Puma foresees unpredictable 2020 after quarterly sales, profits nosedive