Ganga Forging Limited has commenced the process for its Rights Issue, opening the subscription period on July 10, 2026. The company aims to raise funds by issuing up to 20,22,03,345 fully paid-up equity shares with a face value of Re. 1 each at a price of ₹1.63 per share. The issue is being offered on a rights basis to eligible equity shareholders in the ratio of 3 rights equity shares for every 2 fully paid-up equity shares held on the record date of July 02, 2026.

The company has confirmed the completion of dispatch for the Letter of Offer dated June 25, 2026, Application Forms, and Rights Entitlement Letters. The dispatch of these materials via email was completed on July 06, 2026, while physical copies were sent via Speed Post on the same date. Rights Entitlements have been credited to the demat accounts of eligible shareholders under ISIN INE691Z20015 as of July 06, 2026.

Issue Schedule

The Rights Issue schedule outlines key dates for shareholders, including the opening and closing of the issue and the renunciation period. The Board retains the right to extend the issue period by up to 30 days from the opening date.

Application Process

Applications for the Rights Issue must be made mandatorily through the Application Supported by Blocked Amount (ASBA) process. Shareholders can submit applications either physically at designated branches of Self-Certified Syndicate Banks (SCSBs) or electronically via the SCSB websites. In cases where shareholders do not receive the application form, they may apply on plain paper, provided they have an Indian address, though such applicants will not be entitled to renounce their Rights Entitlements.

The company has established a separate demat suspense escrow account for Rights Entitlements related to shares held in physical form, those in the Investor Education and Protection Fund (IEPF), or shares belonging to shareholders with frozen demat accounts. Eligible shareholders in these categories must submit relevant documents to the company or registrar by July 15, 2026, to facilitate the transfer of entitlements to their demat accounts. Failure to provide these details will result in the lapse of the entitlements.

Listing and Registrar Details

The existing equity shares of Ganga Forging Limited are listed on the National Stock Exchange of India Limited (NSE). The company has received in-principle approval from the NSE for the listing of the Rights Equity Shares. MUFG Intime India Private Limited has been appointed as the Registrar to the Issue to manage the subscription process and address investor grievances.

Ganga Forging Limited has submitted the Letter of Offer to the National Stock Exchange of India Limited (NSE) and the Securities and Exchange Board of India (SEBI) for its rights issue of 20,22,03,345 fully paid-up equity shares. The issue aims to raise ₹32.96 crore at a price of ₹1.63 per share, including a premium of ₹0.63 over the face value of Re.1. The rights entitlement ratio is fixed at 3 Rights Equity Shares for every 2 fully paid-up Equity Shares held by eligible shareholders as on the record date of July 02, 2026.

Rights Issue Details

The rights issue is scheduled to open on July 10, 2026, and close on July 20, 2026. The on-market renunciation period for Rights Entitlements (REs) will run from July 10 to July 15, 2026. The company has secured in-principle approvals from the NSE via a letter dated February 16, 2026. The issue proceeds are intended for repayment of loans availed for the solar power project and railway clip manufacturing activities, capital expenditure, and meeting working capital requirements.

Regulatory Compliance

The board approved the issuance in accordance with the Companies Act, 2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Letter of Offer was approved by the Board of Directors on June 25, 2026, and submitted to the exchanges on June 27, 2026. The company has arranged with NSDL and CDSL for the credit of Rights Entitlements (REs) in dematerialized form under the ISIN INE691Z20015. The outstanding equity shares are expected to increase from 13,48,02,230 prior to the issue to 33,70,05,575 post-issue, assuming full subscription.