Bharat Forge to raise Rs 500 cr via NCDs

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.