Bharat Forge to raise $75 Mn

Printer Print Email Email
Mumbai: The board of directors of Bharat Forge, the flagship company of the Kalyani group, Wednesday approved a preferential issue of convertible warrants to its promoters to raise 3 billion ($75 Mn).

The proceeds will go to a corpus towards funding its ongoing growth programme in capital goods and non-auto space as well as enhance promoters' stake in the company, according to an announcement Wednesday evening.

Part of the $2.1 billion Kalyani group, Bharat Forge is a leading global full service supplier of forged and machined engine and chassis components. Apart from being a leading chassis component manufacturer, it is also the country's largest exporter of auto components.

It is also engaged in manufacturing a variety of safety and critical components for passenger cars, commercial vehicles and diesel engines, aerospace, power, energy, railways, construction, oil and gas.

Bharat Forge has manufacturing facilities in 12 locations, including four in India, three in Germany, two in China and one each in the U.S., Sweden and Scotland.
Source: IANS
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..
Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..