Shardul Amarchand Mangaldas advised lead managers on Bharat Forge’s ₹2,000 crore qualified institutional placement, facilitating swift capital raising via equity issuance.
Shardul Amarchand Advises Lead Managers on Bharat Forge ₹2,000 Crore QIP
Bharat Forge Limited has completed a Qualified Institutional Placement (QIP) of equity shares aggregating approximately ₹2,000 crore. The placement allows the company to raise capital from institutional investors without public disclosures, under the SEBI (ICDR) Regulations, 2018.
Shardul Amarchand Mangaldas & Co advised the lead managers—Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited. The deal was led by partners Nikhil Naredi and Devi Prasad Patel, with support from Harini Jambunathan and others.
The legal services included due diligence, drafting of placement documents, investor Q&A, coordination with registrars, and ensuring compliance with stock exchange listing norms. The QIP route is preferred for speed and confidentiality, and eligibility conditions under Regulation 22(2) of ICDR were satisfied by Bharat Forge’s track record and market capitalization.
For practitioners, this transaction reinforces the continued relevance of QIPs as an efficient capital-raising mechanism for established listed companies, especially in volatile market conditions where public offerings may be less predictable.
