Auto component maker Bharat Forge today said it will seek shareholders' approval to raise $150 million (nearly Rs 720 crore) by issue of warrants or bonds.
The shareholders would meet on October 1, to consider raising funds of $150 million by issue of warrants or bonds, with or without an option to raise an additional amount if the subscription is fully subscribed, Bharat Forge said in a filing to the Bombay Stock Exchange(BSE).
The company would issue warrants or bonds to potential buyers, the filing added.
Shares of Bharat Forge today closed at Rs 225.80 on the BSE, up 2.98 per cent from the previous close.