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Awaiting price reaction for this filing.
G.G. Automotive Gears Ltd has received trading approval from BSE for 4,90,000 equity shares that were allotted on April 3, 2025 to Promoters upon conversion of 4,90,000 convertible warrants. The shares were issued at Rs. 60 each (Rs. 10 face value plus Rs. 50 premium) on a preferential basis. Trading in these new shares commenced on the exchange from June 6, 2025, with distinctive share numbers 9500001 to 9990000. All 4,90,000 shares are subject to a lock-in period until February 4, 2027, meaning the Promoters cannot sell these shares until that date. The new shares rank equally (pari-passu) with existing shares of the company.
This is a procedural confirmation that newly issued Promoter shares from warrant conversion are now tradable on the exchange. However, with a lock-in until early 2027, there is no immediate dilution risk from these shares hitting the market. Shareholders should note the increased Promoter holding, which signals insider confidence in the company.