Fixed Price IPO | ₹5 Cr | Listed at NSE SME | Fri, Jun 29, 2018 - Tue, Jul 3, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Jun 29, 2018
IPO Close
Tue, Jul 3, 2018
Issue Price
₹21 per share
Market Cap (Pre-IPO)
₹16.69 Cr
| IPO Date | 29 Jun to 3 Jul, 2018 |
| Listed on | Wed, Jul 11, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹21 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 23,82,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (agg. up to ₹0.2646 Cr) |
| Fresh Issue (Ex Market Maker) | 22,56,000 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 22,56,000 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 55,65,331 shares |
| Share Holding Post Issue | 79,47,331 shares |
| NSE Symbol | GANGAFORGE |
| ISIN | INE691Z01015 |
Ganga Forging IPO comprises a total issue size of 23,82,000 shares. The net offer to the public is 22,56,000 shares, after excluding 1,26,000 shares allotted on a firm basis. Of the Net offer 11,28,000 (50.00%) allocated to NII 11,28,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,28,000 | 50.00% | 47.36% |
| Retail Shares Offered | 11,28,000 | 50.00% | 47.36% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,26,000 | 5.29% | |
| Total Shares Offered | 23,82,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To finance setting up of Closed Die Forging manufacturing facility | 4.60 |
| 2 | General corporate purposes | 0.00 |
The Ganga Forging IPO is subscribed 1.88 times on July 3, 2018 5:00:00 PM (Day 3). The public issue subscribed 2.80 times in the retail category, [.] times in the QIB category, and 0.84 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.84 | 11,28,000 | 9,48,000 |
| Retail | 2.80 | 11,28,000 | 31,62,000 |
| Total | 1.88 | 22,56,000 | 42,36,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 0.35 |
| 2 | Regulatory fees | 0.03 |
| 3 | Marketing and Other Expenses | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹21.00 |
| Open | ₹21.10 |
| Low | ₹21.00 |
| High | ₹21.30 |
| Last Trade | ₹21.20 |
Lead Manager Reports
Ganga Forging IPO is a SME IPO of 23,82,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹21 per share. The minimum order quantity is 6000.
The IPO opens on Fri, Jun 29, 2018, and closes on Tue, Jul 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 Fri, Jun 29, 2018 and closes on Tue, Jul 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 Tue, Jul 10, 2018. Check the Ganga Forging IPO allotment status.
The Ganga Forging IPO listing date is on Wed, Jul 11, 2018.
