Space industry
Bharat Forge closes ₹2,000 crore institutional equity placement
The manufacturer’s transaction adviser identifies proposed defence-equipment spending. Its documented ISRO supply work does not establish a space-specific allocation.
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Bharat Forge closed a ₹2,000 crore qualified institutions placement on September 22, 2026, and approved share allotments to institutional buyers, NDTV Profit reported. The Pune-based manufacturer issued 10,582,010 equity shares at ₹1,890 each.
Shardul Amarchand Mangaldas & Co., legal counsel to the placement’s lead managers, separately disclosed the transaction on September 24. It identified Kotak Mahindra Capital, Morgan Stanley India and Nomura as lead managers, and recorded that the final placement document was filed with India’s two main stock exchanges on September 22.
Bharat Forge has a documented space-supply business alongside its other manufacturing operations. In its April–September 2025 employee newsletter, the company reported supplying forgings to the Indian Space Research Organisation since 2011, with components produced at Mundhwa and Baramati.
The adviser said part of the proceeds was proposed for capital expenditure on defence-equipment capabilities. Its announcement does not identify an allocation to space manufacturing.
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The manufacturer’s transaction adviser identifies proposed defence-equipment spending. Its documented ISRO supply work does not establish a space-specific allocation. Read the full report: https://www.spaceexploration.in/news/bharat-forge-qip-close #SpaceExplorationNews #SpaceNews #SpaceIndustry
