Bookbuilding IPO | ₹37 Cr | Listed at BSE, NSE | Wed, May 4, 2011 - Mon, May 9, 2011
Sanghvi Forging IPO is a book build issue of ₹36.90 crores. The issue is entirely a fresh issue of 0.43 crore shares of ₹36.90 crore.
Sanghvi Forging IPO bidding started from May 4, 2011 and ended on May 9, 2011. The shares got listed on BSE, NSE on May 23, 2011.
Sanghvi Forging IPO price band is set at ₹85 per share. The lot size for an application is 70. The minimum amount of investment required by an retail is ₹5,950 (70 shares) (based on upper price). The lot size investment for sNII is 34 lots (2,380 shares), amounting to ₹2,02,300, and for bNII, it is 169 lots (11,830 shares), amounting to ₹10,05,550.
Arihant Capital Markets Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Sanghvi Forging IPO RHP for detailed Information.
IPO Open
Wed, May 4, 2011
IPO Close
Mon, May 9, 2011
Issue Price
₹85 per share
Market Cap (Pre-IPO)
₹107.88 Cr
| IPO Date | 4 to 9 May, 2011 |
| Listed on | Mon, May 23, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 |
| Issue Price | ₹85 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 43,41,195 shares (agg. up to ₹37 Cr) |
| Fresh Issue | 43,41,195 shares (agg. up to ₹37 Cr) |
| Share Holding Pre Issue | 83,51,072 shares |
| Share Holding Post Issue | 1,26,92,000 shares |
| BSE Script Code / NSE Symbol | 533411 / SANGHVIFOR |
| ISIN | INE263L01013 |
Sanghvi Forging IPO comprises a total issue size of 43,41,195 shares. Out of which, 21,70,597 (50.00%) are allocated to QIB, 6,51,179 (15.00%) allocated to NII 15,19,419 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 21,70,597 | 50.00% | NA |
| NII (HNI) Shares Offered | 6,51,179 | 15.00% | NA |
| Retail Shares Offered | 15,19,419 | 35.00% | 21,705 |
| Total Shares Offered | 43,41,195 | 100.00% |
Investors can bid for a minimum of 70 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹5,950 |
| Retail (Max) | 33 | 2,310 | ₹1,96,350 |
| S-HNI (Min) | 34 | 2,380 | ₹2,02,300 |
| S-HNI (Max) | 168 | 11,760 | ₹9,99,600 |
| B-HNI (Min) | 169 | 11,830 | ₹10,05,550 |
Incorporated in 1989, Sanghvi Forging & Engineering Limited (SFEL) is engaged in the business of manufacture and marketing of Stainless Steel Forged and Machined Subtends, Forged Flanges, Forged Fittings and CNC Machined Forged Parts & Automobile Components in India. Company has its own Forge Shop, Die Shop, Heat Treatment Shop, CNC based Machine Shop.
SFEL is a supplier to major projects in sectors like Refineries, Petrochemicals, Fertilizers, Nuclear Power plant, Ship Building, Off shore and Auto mobiles. Company has a wide range of client from different sectors including Shell, IOC, HPCL, BPCL, RIL, L&T and Godrej. Company also exports its product to more than 20 countries.
Company has an operational track record of around 20 years. During FY10, SFEL has reported PAT of Rs.2.61 Cr on total income of Rs.29.22 Cr against PAT of Rs.2.50 Cr on total income of Rs.29.55 Cr in FY09. In 9MFY11, SFEL has earned PAT of Rs.3.09 Cr on total income of Rs.26.89 Cr.
| 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 meet the requirement of margin money for working capital for the New Project. | 7.00 |
| 2 | To Part finance the cost of setting up 15,000 MTPA open die forging unit (with single piece forging up to 40 MT) to manufacture proof machined products viz. stepped shafts, bars & hollows, blocks, flanged shafts, gear blanks, forging items etc at G.I.D.C. Industrial. Estate (at plot no. 1401, 1402 & 1403), Waghodia District Vadodara. | 8.25 |
| 3 | To meet the pre-operative expenses including Issue expenses. | 7.00 |
| KPI | |
|---|---|
| RoNW | 20.95% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 86.28% | |
| Market Cap | ₹107.88 Cr. |
The Sanghvi Forging IPO is subscribed 1.3 times on May 9, 2011 5:00:00 PM (Day 4). The public issue subscribed 2.93 times in the retail category, 0 times in the QIB category, and 1.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0 | 23,06,262 | |
| NII | 1.82 | 6,91,879 | |
| Retail | 2.93 | 16,14,384 | |
| Total | 1.3 | 46,12,525 |
CARE has assigned an IPO Grade 3 to Sanghvi Forging & Engineering Ltd. This means as per CARE, company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Sanghvi Forging IPO Grading Report
As per CARE 'The grading draws strength from the experienced promoters and comfortable financial risk profile of SFEL marked by healthy (though fluctuating) profitability margin in the last three years, comfortable liquidity indicators and moderately levered capital structure. The grading also factors in SFEL’s diversified revenue-mix and relatively stable outlook for the end-user industries.'
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Management fee and underwriting and selling commissions | 0.53 |
| 2 | SCSB’s commission | 0.30 |
| 3 | Advertising and marketing expenses | 0.58 |
| 4 | Printing and stationary | 0.65 |
| 5 | Registrar’s fee, legal counsel, IPO grading | 0.70 |
| 6 | Others | 0.25 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹85.00 | ₹85.00 |
| Open | ₹85.00 | ₹88.00 |
| Low | ₹85.00 | ₹86.50 |
| High | ₹116.50 | ₹116.80 |
| Last Trade | ₹111.75 | ₹112.00 |
Lead Manager Reports
Sanghvi Forging IPO is a main-board IPO of 43,41,195 equity shares of the face value of ₹10 aggregating up to ₹37 Crores. The issue is priced at ₹85 per share. The minimum order quantity is 70.
The IPO opens on Wed, May 4, 2011, and closes on Mon, May 9, 2011.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Sanghvi Forging IPO using UPI as a payment gateway. Zerodha customers can apply in Sanghvi Forging IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sanghvi Forging IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sanghvi Forging IPO opens on Wed, May 4, 2011 and closes on Mon, May 9, 2011.
Sanghvi Forging IPO lot size is 70, and the minimum amount required for application is ₹5,950.
You can apply in Sanghvi 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 Sanghvi Forging IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Sanghvi Forging IPO allotment status.
The Sanghvi Forging IPO listing date is on Mon, May 23, 2011.
