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Awaiting price reaction for this filing.
GG Automotive Gears has received BSE listing approval for 4,90,000 equity shares of face value Rs. 10 each, issued at a premium of Rs. 50 per share (effective price Rs. 60) to the promoters on a preferential basis. These shares, with distinctive numbers from 9500001 to 9990000, were issued pursuant to the conversion of warrants that were previously allotted to the promoters. The total value of the allotment comes to roughly Rs. 2.94 crore. With this listing approval, the promoter group's shareholding in the company will increase, and the company's paid-up equity capital will rise accordingly. The company is now required to file NSDL/CDSDL credit confirmations and any lock-in confirmations with the exchange.
This is a promoter-led warrant conversion rather than fresh dilution from the market, so equity shareholders are not directly impacted on the cash flow side. Expect a marginal increase in the total share count and a small adjustment in EPS going forward, but the move signals promoter confidence and completion of a previously announced preferential structure.