Penny Stock GG Engineering In Focus As Vikasa Global Fund Picks Stake

Vikasa Global Fund PCC-EUBILIA Capital Partners Fund has bought 45,00,000 shares of GG Engineering which is engaged in heavy electrical equipment industry.

The company recently announced that it has bagged an order worth Rs 21 crore for supply of iron raw materials to established industrial houses.

The company is poised to fulfil the orders within 45 days, it said in a statement.

With this, GG Engineering ventures into supply of vital steel products to the infrastructure development sector.

Earlier, GG Engineering had announced the basis of allotment of rights issue shares. Its Rights Issue Committee had approved the allotment of 49,88,20,215 fully paid-up rights equity shares of face value of Re 1 each at a price of Re 1 per rights equity share to the eligible applicants.

"It is an opportunity for shareholders to increase their exposure to the stock at a discount price," the company had said in a statement on BSE.