Balu Forge Industries (BFIL) has announced a fund-raise of Rs. 496.80 crore in a combination of preferential issue of equity shares and fully convertible warrants to strengthen its manufacturing capacity and capability to play its role in making India atmanirbhar or self-reliant in defence, railways and aerospace sector and turning the vision of Viksit Bharat into reality.
The board of BFIL has approved an issue of 45,00,000 equity shares of face value of Rs. 10 each at a premium price of Rs. 350 per equity share aggregating up to Rs. 162,00,00,000 by way of preferential issue to the non-promoter public category investors. The board has also approved an issue of 63,00,000 fully convertible warrants to the non-promoter public category investors and 30,00,000 fully convertible ...
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