G G Engineering Rights Issue will open for subscription from 20 July 2023. the company aims for an issue size of ₹49.88 Crores through this rights Issue.
About the company
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 Leyland & Perkins to 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.
Objectives of the Issue
- To meet the working capital requirements of our Company.
- General Corporate Purposes.
Rights Issue Timetable
| Last Date to buy shares | 10 July 2023 |
| Record Date | 11 July 2023 |
| Credit of Rights Entitlements | 13 July 2023 |
| Bid/Offer Opens On | 20 July 2023 |
| Renunciation of Rights Entitlements | 26 July 2023 |
| Bid/Offer Closes On | 31 July 2023 |
| Deemed Date of Allotment | 03 August 2023 |
| Credit Date | 09 August 2023 |
| Listing Date | 14 August 2023 |
G G Engineering Rights Issue
| Issue Open | Jul 20, 2023 – Jul 31, 2023 |
| Security Name | G G Engineering Limited |
| Issue Size (Shares) | 498,820,215 |
| Issue Size (Amount) | ₹49.88 Crores |
| Issue Price | ₹1 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Full amount of Rs. 1/- per Equity Share payable on application. |
| Entitlement | 38 Rights Equity Share(s) for every 29 fully paid-up Equity Shares held on Record Date |
Company Financials
| 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 |
Rights Issue Documents
Lead Manager(s)
–
Rights Issue Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: ggel.rights@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Company Contact Information
G G Engineering Limited
Off No. 203, 2nd Floor,
Shivam Chambers Coop Soc Ltd. S.V Road,
Goregaon West, Mumbai – 400104
Phone: +91-9315213276
Email: cs.engg@gmail.com
Website: https://ggelimited.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
