G. G. Automotive Gears Limited announced a private placement 425,000 at an issue price of INR 60 for the gross proceeds of INR 25,500,000 and up to 1,658,833 share warrants at a price of INR 15 per warrant for the gross proceeds of INR 24,882,495 for the gross proceeds of INR 50,382,495 on September 8, 2023. The warrants will be convertible into one equity share at an exercise price of INR 45 per share. The transaction will include participation from new investor, Belkenn Loco Parts Pvt Ltd for 713,833 warrants and returning investor, Bela Gajra for 425,000 equity shares 9,45,000 warrants.

The shares will be issued on preferential basis. The transaction has been approved by the shareholders of the company.