₹49.88 Crores | Listing at BSE | Thu, Jul 20, 2023 - Mon, Jul 31, 2023
G G Engineering Limited Rights Issue comprises 49.88 Cr equity shares aggregating to ₹49.88 Cr, offered at an issue price of ₹1 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jul 11, 2023, with the Rights Issue being offered in the entitlement ratio of 38 : 29.
The term of payment is defined as following : Full amount of Rs. 1/- per Equity Share payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Aug 3, 2023.
The Rights Issue opens on Jul 20, 2023, and closes on Jul 31, 2023, with renunciation of Rights Entitlements permitted up to Jul 26, 2023.
The deemed date of allotment is Aug 3, 2023, following which the equity shares are expected to be credited to demat accounts on Aug 9, 2023 and listed at the BSE on Aug 14, 2023.
Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the G G Engineering Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Tue, Jul 11, 2023
Entitlement Ratio
38 : 29
Open Date
Thu, Jul 20, 2023
Close Date
Mon, Jul 31, 2023
Full amount of Rs. 1/- per Equity Share payable on application.
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 18.76 | 15.48 | -0.24 |
| 31-Mar-23 | 116.94 | 110.83 | 7.93 |
| Amount in ₹ Crore | |||
Incorporated in 2006, G G Engineering Limited in the making and delivery of quality sheet metal and heavy steel products. The company specializes in custom-built enclosure sets for no matter stationary or mobile applications.
Best product quality and customer satisfaction is the top priority of the company and they strive to grow and improve their offerings with time.
GG Engineering Ltd (GGEL) is an authorized O.E.A. of Ashok Leylend & Perkins make engines. They manufacture DG Sets in the range of 10 to 2250 KVA.
The company is equipped with all facilities to execute all manufacturing activities such as punching, forming, shearing, bending, fabrication, welding & assembly, etc. The company's major customers include Sonali Electrical Sales & Service, R M S International Private Ltd, Raman General Pvt Ltd, Bondre Associates, ATR Enterprises, Prashant Electricals, Ashok Khandelwal, Kumar & Kumar Associates, Ms. Proviso Group, Gupta Builders and Developers.
The entity is working towards its vision of creating a clean, waste-free environment in India. They aspire to reach each and every city in India and help it have a clean environment.
The Company intends to utilize the Net Proceeds from this Issue towards the following objects:
[Dilip Davda] Though this RI is at par, resultant equity capital will be over 80% of the company’s top line of FY23, posing a capital servicing issue. The promoter’s holding of just around 1.93% is a significant risk. The issue can be treated as “High Risk/No Return” considering the company's financial status and the fund mobilization since going public. This is the second RI from the company in just 12 months period. There is no harm in skipping this risky offer. Read detail review...
G G Engineering Limited
Off No. 203, 2nd Floor,
Shivam Chambers Coop Soc Ltd. S.V Road,
Goregaon West, Mumbai - 400104
Goregaon, Maharashtra, 400104
The G G Engineering Rights Issue 2023 opens on Thu, Jul 20, 2023, and closes on Mon, Jul 31, 2023.
G G Engineering Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Thu, Jul 13, 2023 |
| Last Date for renunciation of Rights Entitlements | Wed, Jul 26, 2023 |
| Issue Opening Date | Thu, Jul 20, 2023 |
| Issue Closing Date | Mon, Jul 31, 2023 |
| Date of Allotment (on or about) | Thu, Aug 3, 2023 |
| Date of Credit (on or about) | Wed, Aug 9, 2023 |
| Date of Listing (on or about) | Mon, Aug 14, 2023 |
You can apply for G G Engineering Rights Issue 2023 in two ways:
Steps to apply for G G Engineering Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for G G Engineering Rights Issue 2023 using Registrar's website (R-WAP)
