Bharat Forge to raise $300 mn

Bharat Forge is planning to raise up to $300 million from the international markets to fund long-term business plans. This was announced in a release issued by the company to the BSE today.

"The meeting also approved a proposal to split the equity share of Rs 10 each into five equity shares of Rs 2 each on a date to be decided by
the board. The board also gave its nod to increase authorised capital to Rs 105 crore from the present Rs 90 crore by issuing 1.5 crore equity shares of Rs 10 each," the release added.

The company has also raised the ceiling on FII limit to 40% of the paid-up capital, the release added.