G G Engineering Limited board approves 38:29 rights issue

The Board of Directors of the Company in their meeting held today i.e Wednesday, July 5, 2023 at the Corporate Office of the Company, have considered and approved the terms of the Rights Issue.

The board approves issue of up to 49,88,20,215 Equity Shares of face value of Rs. 1/- each for an amount aggregating up to Rs. 49.88 Crores.

Right entitlement Ratio - 38 (Thirty-Eight) Equity Shares for every 29 (TwentyNine) Equity Shares held by the Eligible Equity Shareholders of the Company as on the record date with the right to renounce.

Right Issue Period

Right Issue Opening Date - Thursday, July 20, 2023
Last Date for On Market Renunciation of Rights Entitlement - Wednesday, July 26, 2023
Right Issue Closing Date - Monday, July 31, 2023

The Outstanding Equity Shares prior to the Rights Issue was 38,06,78,585 Equity shares of Re. 1/- each and Outstanding Equity Shares post Right Issue (assuming full subscription) will increase to 87,94,98,800 Equity shares of Re. 1/- each.

The record date for the purpose of determining the shareholders entitled for Rights Issue is fixed as Tuesday, 11 July, 2023.

Source : Equity Bulls

Keywords

GGEngineering FundRaising RightsIssue RecordDate 38For29