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Ganga Forging (GFL) IPO is a fixed price issue of Rs 5.00 crores.
Ganga Forging (GFL) IPO bidding started from June 29, 2018 and ended on July 3, 2018. The allotment for Ganga Forging (GFL) IPO was finalized on Friday, July 6, 2018. The shares got listed on NSE SME on July 11, 2018.
Ganga Forging (GFL) IPO price is ₹21 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹126,000.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Ganga Forging (GFL) IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Ganga Forging (GFL) IPO RHP for detailed information.
| IPO Date | June 29, 2018 to July 3, 2018 |
| Listing Date | July 11, 2018 |
| Face Value | ₹10 per share |
| Price | ₹21 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 2,382,000 shares (aggregating up to ₹5.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,565,331 |
| Share holding post issue | 7,947,331 |
| Market Maker portion | 126,000 shares |
Ganga Forging (GFL) IPO offers 2,508,000 shares. 1,128,000 (44.98%) to NII, 1,128,000 (44.98%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 126,000 (5.02%) |
| Other Shares Offered | 1,128,000 (44.98%) |
| Retail Shares Offered | 1,128,000 (44.98%) | Other Shares Offered | 126,000 (5.02%) |
| Total Shares Offered | 2,508,000 (100%) |
Ganga Forging (GFL) IPO opens on June 29, 2018, and closes on July 3, 2018.
| IPO Open Date | Friday, June 29, 2018 |
| IPO Close Date | Tuesday, July 3, 2018 |
| Basis of Allotment | Friday, July 6, 2018 |
| Initiation of Refunds | Monday, July 9, 2018 |
| Credit of Shares to Demat | Tuesday, July 10, 2018 |
| Listing Date | Wednesday, July 11, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 3, 2018 |
Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹126,000 |
| Retail (Max) | 1 | 6000 | ₹126,000 |
| Lot Size Calculator | |||
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]
Considering Inconsistency in financial track record and aggressive pricing, there is no harm in giving this issue a miss. (Avoid)
Read detail review...The Ganga Forging (GFL) IPO is subscribed 1.78 times on July 3, 2018 5:00:00 PM. 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 (times) |
|---|---|
| Other | 0.84 |
| Retail | 2.80 |
| Others | 1.00 |
| Total | 1.78 |
| Listing Date | July 11, 2018 |
| BSE Script Code | |
| NSE Symbol | GANGAFORGE |
| ISIN | INE691Z01015 |
| Final Issue Price | ₹21 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹21.00 |
| ₹21.10 |
| ₹21.00 |
| ₹21.30 |
| ₹21.20 |
Ganga Forging Limited
Plot No 1 SNO 298 & 30
Rajkot Gondal N H, Veraval (Shapar)
Rajkot, Gujarat, 360 024
Phone: +912827-252208 /252077
Email: info@gangaforging.com
Website: http://www.gangaforging.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gangaforging.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Check our SME IPO Guide 
Ganga Forging (GFL) IPO is a SME IPO of 2,382,000 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 Shares.
The IPO opens on June 29, 2018, and closes on July 3, 2018.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Ganga Forging (GFL) IPO opens on June 29, 2018 and closes on July 3, 2018.
Ganga Forging (GFL) IPO lot size is 6000 Shares, and the minimum amount required is ₹126,000.
You can apply in Ganga Forging (GFL) IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Ganga Forging (GFL) 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 (GFL) IPO allotment status.
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IPOANALYSIS| Link | Bookmark |July 11, 2018 12:46:27 PM