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As on : 04-Aug-2026
Corporate News
04-Aug-2026     23:18

Garg Furnace Limited to raise Rs 17.68 crore via warrant issue, Vaneera Garg to remain director

Garg Furnace Limited plans to raise approximately Rs 17.68 crore through a preferential issue of warrants, which will be exercisable for equity shares. The allottees include Davinder Garg, Vaneera Garg, Toshak Garg, Daksh Garg, Securocrop Securities India Private Limited, and others, with Vaneera Garg expected to hold the largest stake post-exercise. Shares issued under the issue will rank equally with existing shares, and warrants and acquired shares will be subject to lock-in periods as per SEBI regulations, alongside a 90-day lock-in for existing promoter holdings. Simultaneously, the company seeks to re-appoint Vaneera Garg, age 59, as a Whole Time Director, with an annual remuneration of Rs 18 lakh. Garg, who is married to Davinder Garg and mother to Toshak Garg, currently holds 17,68,510 equity shares.

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