Ganga Forging Limited has informed the Exchange regarding Board meeting held on January 06, 2026.
GANGAFORGE · price
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Awaiting price reaction for this filing.
Ganga Forging Limited's Board of Directors met on January 6, 2026, and approved raising funds through a Rights Issue of equity shares (face value Re. 1 each) for an amount not exceeding Rs. 3,300 lakhs (Rs. 33 crore). The shares will be offered to existing eligible equity shareholders as on a record date, which is yet to be notified. The issue is subject to SEBI ICDR Regulations and other statutory approvals, with specific terms such as issue price, entitlement ratio, and payment terms to be decided by the Board in due course. This is a revised filing submitted to correct typographical errors in the earlier outcome announcement.
Existing shareholders will get the first opportunity to subscribe and avoid dilution, but non-subscribers will see their stake reduced. The stock may face short-term pressure due to the dilution overhang until pricing and entitlement ratio are announced.