Ganga Forging Limited Finalizes Rights Issue Allotment; Paid-up Equity Capital Increases
Ganga Forging Limited (GFL) announced the successful completion of the allotment for its rights issue shares, marking a significant increase in the company’s paid-up equity capital. The board of directors approved the allotment on July 21, 2026, based on applications received under the pre-approved Rights Issue structure.The Company allotted 20,22,03,345 fully paid-up Equity Shares to eligible shareholders at an issue price of Rs 1.63 per Rights Equity Share. The allotment was executed against a total reception of valid applications for 24,20,39,870 equity shares.
The rights issue offered up to 20,22,03,345 shares at an issue price of Rs 1.63 per share, which included a premium of Re 0.63 per share. The issuance was structured to aggregate up to Rs 3295.91 Lakhs.
The successful completion of the rights issue has resulted in a substantial increase in Ganga Forging Limited's paid-up equity share capital. Prior to the allotment, the company held 13,48,02,230 fully paid-up equity shares with a capital base of Rs 13,48,02,230. Following the Rights Issue, the company now possesses 33,70,05,575 fully paid-up equity shares, increasing its total paid-up equity capital to Rs 33,70,05,575.
The key financial transitions resulting from the rights issue are detailed below:
| Metric | Before Rights Issue Allotment | After Rights Issue Allotment |
|---|---|---|
| Paid-up Equity Capital | Rs 13,48,02,230 | Rs 33,70,05,575 |
| Number of Shares | 13,48,02,230 | 33,70,05,575 |
This strategic financing move expands the company’s capital base through the Rights Issue.
GANGAFORGE Stock Price Movement
On Tuesday, shares of Ganga Forging Limited edged higher to settle at ₹1.93, climbing 0.52% in the session. The equity saw a traded volume of 336,004 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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