Ganga Forging Limited to launch 3-for-2 rights issue at Rs 1.63 per share
The board approved a rights issue offering three new equity shares for every two held, priced at Rs 1.63 each.
What Ganga Forging announced
Ganga Forging Limited (NSE: GANGAFORGE) informed the stock exchange that its Board of Directors, in a meeting held on 25 June 2026, approved a rights issue of equity shares. The company will offer three new shares for every two shares currently held by existing shareholders, at an issue price of Rs 1.63 per share.
Rights issue details
- Ratio: 3:2 – for every two shares owned, a shareholder can subscribe to three additional shares.
- Issue price: Rs 1.63 per share, which is the price at which the new shares will be allotted to eligible shareholders.
- Eligibility: All existing equity shareholders as on the record date are entitled to participate, maintaining their proportionate ownership.
- Board approval: The resolution was passed on 25 June 2026, and the filing was submitted to NSE on the same day (25 June 2026, 09:00:47 UTC).
- Other terms: The filing does not disclose the total subscription amount, the record date, the subscription period, or any underwriting arrangements.
Key facts at a glance
| Detail | Value |
|---|---|
| Company | Ganga Forging Limited |
| NSE ticker | GANGAFORGE |
| Announcement type | Rights issue (equity) |
| Board meeting date | 25 June 2026 |
| Rights issue ratio | 3 new shares for every 2 existing shares |
| Issue price per share | Rs 1.63 |
| Filing date | 25 June 2026 (09:00:47 UTC) |
| Source | NSE corporate filing (PDF) |
Why this matters for investors
A rights issue is a way for a listed company to raise fresh capital directly from its existing shareholders. By offering shares at Rs 1.63 each, Ganga Forging aims to secure funding while giving current investors the opportunity to preserve their ownership percentage. Participation is optional; shareholders who do not subscribe will see their stake diluted proportionally. The exact amount of capital to be raised remains undisclosed, so investors cannot yet gauge the scale of the financing or its impact on the balance sheet.
Conclusion
Ganga Forging Limited’s board has approved a 3‑for‑2 rights issue at Rs 1.63 per share, filed on 25 June 2026. While the filing confirms the ratio, price, and approval date, it does not provide details on the total raise, subscription timeline, or intended use of proceeds. Shareholders should await further communications for complete terms before deciding on participation.
Frequently asked questions
Related stocks
Source filing: view original