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Ganga Forging IPO is a fixed price issue of ₹5.00 crores. The issue is entirely a fresh issue of 0.24 crore shares of ₹5.00 crore.
Ganga Forging IPO bidding started from Jun 29, 2018 and ended on Jul 3, 2018. The allotment for Ganga Forging IPO was finalized on Jul 6, 2018. The shares got listed on NSE SME on Jul 11, 2018.
Ganga Forging IPO price is ₹21.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,26,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,52,000.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company is Pantomath Stock Brokers Pvt.Ltd..
Refer to Ganga Forging IPO RHP for detailed Information.
| IPO Date | June 29, 2018 to July 3, 2018 |
| Listing Date | July 11, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹21 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 23,82,000 shares (aggregating up to ₹5.00 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (aggregating up to ₹0.2646 Cr) |
| Net Offered to Public | 22,56,000 shares (aggregating up to ₹4.74 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 55,65,331 shares |
| Share Holding Post Issue | 79,47,331 shares |
Ganga Forging (GFL) IPO offers total 23,82,000 shares. Out of which 11,28,000 (47.36%) allocated to NII, 11,28,000 (47.36%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,26,000 (5.29%) |
| NII (HNI) Shares Offered | 11,28,000 (47.36%) |
| Retail Shares Offered | 11,28,000 (47.36%) |
| Total Shares Offered | 23,82,000 (100.00%) |
Ganga Forging IPO opens on June 29, 2018, and closes on July 3, 2018.
| IPO Open Date | Fri, Jun 29, 2018 |
| IPO Close Date | Tue, Jul 3, 2018 |
| Tentative Allotment | Fri, Jul 6, 2018 |
| Initiation of Refunds | Mon, Jul 9, 2018 |
| Credit of Shares to Demat | Tue, Jul 10, 2018 |
| Tentative Listing Date | Wed, Jul 11, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jul 3, 2018 |
Investors can bid for a minimum of 6,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,26,000 |
| Retail (Max) | 1 | 6,000 | ₹1,26,000 |
| HNI (Min) | 2 | 12,000 | ₹2,52,000 |
Incorporated in 1988, Gujarat based "Ganga Forging Limited is a company engaged in manufacturing of closed die forged products catering to both automotive and non-automotive segment. The automotive segment includes manufacturing of products catering to the commercial vehicle, passenger car, three wheeler, two wheeler, and tractor. The non-automotive segment includes electric power transmission, dairy equipment manufacturing, agricultural, gear and gearbox, crankshafts, connecting road, heavy engineering industries, hubs, and flanges. With a presence in most of the allied products in this industry, the Company caters to wide range of customers.
The existing manufacturing facility of the company is equipped with 4 Drop Hammers, 2 automatic power press, 2 manual power press, 4 furnaces in the forge shop. The manufacturing facilities are well equipped with required facilities including machinery, other handling equipment to facilitate the smooth manufacturing process.
The company has 68 permanent employees on its payroll.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 1,514.46 | 1,345.33 | 1,202.73 | 1,708.34 | 858.33 | |
| Total Revenue | 1,779.17 | 1,769.45 | 1,557.19 | 1,695.99 | 1,556.93 | |
| Profit After Tax | 48.49 | 25.26 | 46.58 | 60.74 | 32.12 | |
The Objects Of The Issue are-
1. To finance setting up of Closed Die Forging manufacturing facility; and
2. General corporate purposes.
[Dilip Davda] <p><strong>Considering Inconsistency in financial track record and aggressive pricing, there is no harm in giving this issue a miss. (Avoid)</strong></p> Read detail review...
| Listing Date | July 11, 2018 |
| BSE Script Code | |
| NSE Symbol | GANGAFORGE |
| ISIN | INE691Z01015 |
| Final Issue Price | ₹21 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹21.00 |
| Open | ₹21.10 |
| Low | ₹21.00 |
| High | ₹21.30 |
| Last Trade | ₹21.20 |
Ganga Forging Ltd.
Plot No 1 SNO 298 & 30
Rajkot Gondal N H,
Veraval (Shapar),
Rajkot, Gujarat, 360024
Phone: +912827-252208 /252077
Email: info@gangaforging.com
Website: http://www.gangaforging.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: gangaforging.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Ganga Forging IPO is a SME IPO of 23,82,000 equity shares of the face value of ₹10 aggregating up to ₹5.00 Crores. The issue is priced at ₹21 per share. The minimum order quantity is 6000.
The IPO opens on June 29, 2018, and closes on July 3, 2018.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Ganga Forging IPO using UPI as a payment gateway. Zerodha customers can apply in Ganga Forging IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ganga Forging IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ganga Forging IPO opens on June 29, 2018 and closes on July 3, 2018.
Ganga Forging IPO lot size is 6000, and the minimum amount required for application is ₹1,26,000.
You can apply in Ganga Forging IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ganga Forging IPO will be done on Friday, July 6, 2018, and the allotted shares will be credited to your demat account by Tuesday, July 10, 2018. Check the Ganga Forging IPO allotment status.
The Ganga Forging IPO listing date is on Wednesday, July 11, 2018.
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