The company, in an exchange filing on Tuesday, said its board’s investment committee approved the allotment of 1.05 crore equity shares of face value ₹2 to eligible qualified institutional buyers at the issue price of ₹1,890, which aggregated to ₹2,000 crore.
Bharat Forge’s issue price for the QIP is at a discount of 5.5% to the stock’s closing price on Tuesday.
Post the allotment of equity shares in the issue, the subscribed and fully paid-up equity share capital of Bharat Forge is now increased to ₹977 crore consisting of 488 crore equity shares compared to the previous ₹956 crore comprising 478 crore equity shares of ₹2 each, the exchange filing said.
The Government of Singapore was allotted the most equity shares amounting to 17.79 lakh or 16.8% of the total QIP shares.
Meanwhile ICICI Prudential Large and Mid Cap Fund, ICICI Prudential Multi Cap Fund and ISIF Active Asset Allocator Long-Short Fund were allotted a cumulative of 10.58 lakh shares or 10% each of the total QIP shares.
Two custodian mutual funds of Invesco India were allotted a total of 7.4 lakh shares or 7% equity.
| Allottee | No. of shares allotted | Percentage of allotted shares |
| Government of Singapore | 17.79 lakh | 16.80% |
| ICICI Prudential Life Insurance Company | 5.82 lakh | 5.5% |
| Societe General – ODI | 5.66 lakh | 5.35% |
| ICICI Prudential Funds (Multiple funds) | 10.58 lakh | 10% |
| Invesco India (Two funds) | 7.4 lakh | 7% |
| Axis Mutual Fund Trustee (Multiple Schemes) | 5.82 lakh | 5.5% |
| Mirae Asset (Multiple Schemes) | 5.82 lakh | 5.5% |
| DSP (Multiple Schemes) | 5.8 lakh | 5.48% |
Bharat Forge had launched the 2,000 crore QIP at a floor price of ₹1,851 per share on September 17, 2026.In an interaction with CNBC-TV18 on August 10, Baba Kalyani of Bharat Forge had said that the board had taken an enabling resolution to raise funds as growth in new areas, high margin businesses, will require resources in the future.
As the company’s growth momentum is very strong, Baba Kalyani had added that they will need to build capabilities to take care of it.
Shares of Bharat Forge ended the previous session 1.7% higher at ₹2,001.4 apiece. The stock has declined 1.9% in the past month, but has gained nearly 37% this year, so far.
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