Ganga Forging rights issue draws 120.14% subscription; new shares start trading July 23, 2026
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Ganga Forging completed a rights issue that was oversubscribed by 120.14%, raising ~₹32.96 crore and listing the new shares from July 23, 2026. Q1 FY26 results showed a return to profitability (₹105.82 lakh net profit) despite lower revenue, aided by reduced expenses and exceptional items. The event is largely a routine equity dilution and does not signal a major strategic or capacity shift, limiting broader market relevance.
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Ganga Forging Limited has completed its rights issue, which was subscribed 120.14%, raising about ₹3295.91 lakhs. Trading in the newly issued shares began on July 23, 2026. The company also reported Q1 FY26 revenue of ₹718.50 lakh, down 7.2% year on year, while posting a net profit of ₹105.82 lakh versus a net loss of ₹29.01 lakh a year earlier. It said the fundraising was a routine equity expansion and did not involve changes to its business model, capacity, or major strategy.
