Balu Forge Industries Limited announced a private placement to issue 4,500,000 common shares at an issue price of INR 360 for the gross proceeds of INR 1,620,000,000 and 9,300,000 convertible warrants at an issue price of INR 90 per warrant for the gross proceeds of INR 837,000,000; aggregate gross proceeds of INR 2,457,000,000 on July 16, 2024. The transaction will include participation from new and returning investors VPK Global Ventures Fund Scheme 1" 300,000 shares, Benani Capital Scheme 1 250,000 shares, Perennial Emerging Growth Fund 250,000 shares, Nikhil Vasant Merchant 200,000 shares, Paresh Vasant Merchant 200,000 shares, Maple Leaf Trading and Services Limited 100,000 shares, Ebisu Global Opportunities Fund Limited 1,200,000 shares, Nova Global Opportunities Fund PCC Touchstone 900,000 shares, Preeti Paresh Bhagat 500,000 Shares, G K T Industries Private Limited 300,000 shares, Ovata Equity Strategies Master Fund" 300,000 shares, Jaikaran Jaspalsingh Chandock 1,500,000 warrants, Trimaan Jaspalsingh Chandock 1,500,000 warrants, Ebisu Global Opportunities Fund Limited 4,000,000 warrants, Krisharya Trust 1,000,000 warrants, Rakesh Hasmukhlal Kanabar 1,000,000 warrants, Ovata Equity Strategies Master Fund 200,000 warrants, Harish Vasudevan100,000 warrants. The transaction has been approved by shareholders and is subject to general shareholders to be held on August 9, 2024.