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Sanghvi Forging & Engineering Ltd IPO (Sanghvi Forging IPO) Detail

May 4, 2011 - May 9, 2011

Sanghvi Forging IPO is a book built issue of Rs 36.90 crores.

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 ₹80 to ₹85 per share. The minimum lot size for an application is 70 Shares. The minimum amount of investment required by retail investors is ₹5,950.

Arihant Capital Markets Ltd is the book running lead manager of the Sanghvi Forging IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Sanghvi Forging IPO RHP for detailed information.

Sanghvi Forging IPO Details

IPO Date May 4, 2011 to May 9, 2011
Listing Date May 23, 2011
Face Value ₹10 per share
Price Band ₹80 to ₹85 per share
Lot Size 70 Shares
Total Issue Size4,341,195 shares
(aggregating up to ₹36.90 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue8,351,072
Share holding post issue12,692,000

Sanghvi Forging IPO Reservation

Sanghvi Forging IPO offers 4,612,525 shares. 2,306,262 (50.00%) to QIB, 691,879 (15.00%) to NII, 1,614,384 (35.00%) to RII. 23,062 RIIs will receive minimum 70 shares and (sNII) and (bNII) will receive minimum 2,380 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered2,306,262 (50.00%)NA
NII (HNI) Shares Offered691,879 (15.00%)
Retail Shares Offered1,614,384 (35.00%)23,062
Total Shares Offered4,612,525 (100%)

Sanghvi Forging IPO Lot Size

Investors can bid for a minimum of 70 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 70 ₹5,950
Retail (Max) 33 2310 ₹196,350
Lot Size Calculator

Sanghvi Forging IPO Promoter Holding

The promoters of the Company are:

1. Mr. Babulal Sanghvi
2. Mr. Jayanti Sanghvi
3. Mr. Naresh Sanghvi
4. Mr. Vikram Sanghvi

Share Holding Pre Issue 86.28%
Share Holding Post Issue

About Sanghvi Forging & Engineering Ltd

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.

Company Financials

ParticularsFor the year/period ended (in Rs. Lacs)
31-Dec-1031-Mar-1031-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income2,932.712,889.832,952.832,387.181,965.931,398.81
Profit After Tax (PAT)295.39251.82231.70252.35185.01107.00

Key Performance Indicator

Objects of the Issue (Sanghvi Forging IPO Objectives)

The object of the issue are:

1. 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, Waghodia District Vadodara;
2. To meet the requirement of margin money for working capital for the New Project;
3. To meet the pre-operative expenses including Issue expenses;
4. To achieve the benefits of listing on the stock exchanges.


Sanghvi Forging IPO Subscription Status (Bidding Detail)

The Sanghvi Forging IPO is subscribed 1.30 times on May 9, 2011 5:00:00 PM. The public issue subscribed 2.93 times in the retail category, 0.00 times in the QIB category, and 1.82 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB0.00
NII1.82
Retail2.93
Total1.30

Sanghvi Forging IPO Grading

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.'

Sanghvi Forging IPO Prospectus

Sanghvi Forging IPO Rating

283
4.1
Rating:Rated 4.1 stars
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Sanghvi Forging IPO Listing Details

Listing Date May 23, 2011
BSE Script Code 533411
NSE Symbol SANGHVIFOR
ISIN INE263L01013
Final Issue Price ₹85 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹85.00
₹85.00
₹85.00
₹116.50
₹111.75
NSE
₹85.00
₹88.00
₹86.50
₹116.80
₹112.00

Check IPO Performance…

Sanghvi Forging & Engineering Ltd Contact Details

Sanghvi Forging & Engineering Ltd
Sanghvi Forging & Engineering Ltd
224/6-7 GIDC Industrial Estate,
Waghodia - 391760, Gujarat, India
Phone: +91-2668-263020/262201
Email: cs@sanghviforge.com
Website: http://www.sanghviforge.com

Sanghvi Forging IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: sanghvi@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Sanghvi Forging IPO - Buy or Not

Sanghvi Forging IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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Sanghvi Forging IPO FAQs

Sanghvi Forging IPO is a main-board IPO of 4,341,195 equity shares of the face value of ₹10 aggregating up to ₹36.90 Crores. The issue is priced at ₹80 to ₹85 per share. The minimum order quantity is 70 Shares.

The IPO opens on May 4, 2011, and closes on May 9, 2011.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Sanghvi Forging IPO opens on May 4, 2011 and closes on May 9, 2011.

Sanghvi Forging IPO lot size is 70 Shares, and the minimum amount required is ₹5,950.

You can apply in Sanghvi Forging 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 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 May 23, 2011.
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Sanghvi Forging IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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61 Comments

61. CHD |   Link |  Bookmark |May 25, 2011 8:24:48 PM (1100+ Posts, 500+ Likes)
SANGHVI DOING WONDERS ..... !!!

ANOTHER GRAVITA . WHERE WILL IT END UP ?
60. Durai Raj,Tirupur |   Link |  Bookmark |May 23, 2011 9:57:42 PM (300+ Posts)
Sanghvi, seems to have a Second innings Tomorrow....
59. GOOD BROKER |   Link |  Bookmark |May 23, 2011 5:58:49 PM
so of the members in the forum who say that the expects guide us and we earned an lot from them then what was the reason that they have not recomended the share of shangavi forging non inst 1.8 times and retail 2.9 times
most of freinds shorted it and got trapped rs 85 closed at rs 113
markets were down but sanghvi up
58. ARCHIT SHAH |   Link |  Bookmark |May 23, 2011 3:14:25 PM
I THINK IN THIS IPO OPERATOR TRAPPED IS VERYGOOD.
OPERATOR PLAYED THEIR GAME WELL.
57. KK Natarajan |   Link |  Bookmark |May 23, 2011 3:10:09 PM (500+ Posts)
The moment I revised my stop loss from 95 to 105, as if to touch that, it came from 116, hit my stop loss and then duly went back to 114. My innings in this is now closed.
56. Ravi, Bangalore |   Link |  Bookmark |May 23, 2011 2:59:34 PM (300+ Posts)
56. n kumar

In other words, trader will get another opportunity. Trader should not become emotional & keep on averaging to recover loss.

Purely by number game, I should have gone long when it crossed 96 with a stop at 87 (wide stop-loss). However, I hesitated on seeing broad-market sentiment as well as recent track record of issues.

This is my judgement error.
55. KK Natarajan |   Link |  Bookmark |May 23, 2011 2:47:37 PM (500+ Posts)
On seeing its strength, I bought 50 shares at 90 in the morning. 25 shares sold for 95. For the remaining 25, waiting with trailing stop loss. It seems many have shorted in the morning and short covering may lead to a spurt in price.
54. n kumar |   Link |  Bookmark |May 23, 2011 2:43:52 PM
Ravi,

What do you mean by "Sanghvi Forging 103- Yes. If breaks 100, I would like to short. If not, then, market will not close from today onwards. "
I didn't understand the second part of the statement.
Is it a Typo??
53. Ravi, Bangalore |   Link |  Bookmark |May 23, 2011 2:36:50 PM (300+ Posts)
54. ARCHIT SHAH

Sanghvi Forging 103- Yes. If breaks 100, I would like to short. If not, then, market will not close from today onwards.

This is another overpriced issue. As it is tiny IPO, Operators have cornered & playing. Trader will get another opportunity. I will watch for one week, if it does not break 100 today.
52. ARCHIT SHAH |   Link |  Bookmark |May 23, 2011 1:25:39 PM
Ravi,

Your stoploss 96 hit.
51. Ravi, Bangalore |   Link |  Bookmark |May 23, 2011 12:58:55 PM (300+ Posts)
Sanghvi Movers 93- Sold allotment @ 87.7.

Shorted 300 shares @ 93 with a stop at 96.

I am planning to cover 86, 82 & 76 in phases.
50. CHD |   Link |  Bookmark |May 23, 2011 12:17:56 PM (1100+ Posts, 500+ Likes)
ONLY YESTERDAY I HAD PREDICTED THERE WILL BE FIREWORKS ON LISTING.....
SEE @ 49 ....

CONGRATS ALL YE SMART INVESTORS/ BRAVEHEARTS WHO HAVE MADE MONEY IN THIS IPO .... WHILE SO-CALLED EXPERTS WERE SCARED TO APPLY.
49. Hari prakash |   Link |  Bookmark |May 23, 2011 10:43:47 AM
Experts,
Can any one advise max at wat price we can sell off this share?
48. Rkg |   Link |  Bookmark |May 23, 2011 9:42:21 AM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
sell and run for your life
47. CHD |   Link |  Bookmark |May 22, 2011 3:59:58 PM (1100+ Posts, 500+ Likes)
A VERY SMALL-SIZE IPO .

SOME OPERATOR IS SURE TO TAKE CONTROL.

FIREWORKS EXPECTED ON LISTING DAY .
ALLOTTEES BEWARE !!!
46. SUPERIPO |   Link |  Bookmark |May 22, 2011 1:30:22 PM
SANGHVI FORGING KE LISTING KE DIN INVESTERS CHAHE PARTY KARE YA NA KARE LAKIN MR.BABULAL AND CO. 23 MAY KO SURE PARTY KARENGE.
45. KK Natarajan |   Link |  Bookmark |May 21, 2011 7:21:50 AM (500+ Posts)
46, VK,
Listing is on Monday, the 23rd May.
44. VK |   Link |  Bookmark |May 20, 2011 11:37:53 AM
Hello Friends,
When is Sanghvi listing
43. Chintan Bhinde |   Link |  Bookmark |May 19, 2011 3:43:48 PM
Discount Listing is Sure on the Cards.
Good Luck to all the Allotees
42. rajni gandhi |   Link |  Bookmark |May 19, 2011 2:58:06 PM (400+ Posts)
http://www.bigshareonline.com/IPO/ipostatus.aspx

check alotment status