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Ganga Forging Limited IPO (Ganga Forging (GFL) IPO) Detail

Jun 29, 2018 - Jul 3, 2018

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.

Company Financials

Summary of financial Information (Restated)
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

Objects of the Issue

The Objects Of The Issue are-

1. To finance setting up of Closed Die Forging manufacturing facility; and
2. General corporate purposes.

Ganga Forging (GFL) IPO Details

IPO Date Jun 29, 2018 to Jul 3, 2018
Listing Date Wednesday, July 11, 2018
Face Value ₹10 per share
Price ₹21 per share
Lot Size 6000 Shares
Issue Size2,382,000 shares of ₹10
(aggregating up to ₹5.00 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Company Promoters

The Promoters of the Company are Mr. Hiralal Mahidas Tilva and Mr. Rakesh Chaganlal Patel. The Promoters hold 18,48,715 Equity Shares in aggregate, which is equivalent to 33.22% of the pre-Issue paid-up Equity Share capital of the Company.

Ganga Forging (GFL) IPO Tentative Timetable

Ganga Forging (GFL) IPO opens on Jun 29, 2018, and closes on Jul 3, 2018. The Ganga Forging (GFL) IPO bid date is from Jun 29, 2018 10.00 A.M. to Jul 3, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Tentative Date
Opening Date Jun 29, 2018
Closing Date Jul 3, 2018
Basis of Allotment Jul 6, 2018
Initiation of Refunds Jul 9, 2018
Credit of Shares to Demat Jul 10, 2018
Listing Date Jul 11, 2018

Ganga Forging (GFL) IPO Lot Size

The Ganga Forging (GFL) IPO lot size is 6000 shares. A retail-individual investor can apply for up to 1 lots (6000 shares or ₹126,000).

Application Lots Shares Amount
Retail (Min) 1 6000 ₹126,000
Retail (Max) 1 6000 ₹126,000

Ganga Forging (GFL) IPO Review

Considering Inconsistency in financial track record and aggressive pricing, there is no harm in giving this issue a miss. (Avoid)

Read detail review...


Ganga Forging (GFL) IPO Subscription Status (Bidding Detail)

The Ganga Forging (GFL) IPO is subscribed 1.78 times on Jul 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)

CategorySubscription (times)
NII0.84
Retail2.80
Others1.00
Total1.78

Ganga Forging (GFL) IPO Prospectus

Ganga Forging (GFL) IPO Rating

40
3.5
Rating:Rated 3.5 stars
Vote Here ...

Ganga Forging (GFL) IPO Listing Date

Listing Date Wednesday, July 11, 2018
BSE Script Code
NSE Symbol GANGAFORGE
Listing In
ISIN INE691Z01015
IPO Price ₹21 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
₹21.00
₹21.10
₹21.00
₹21.30
₹21.20

Company Contact Information

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/

Ganga Forging (GFL) IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: gangaforging.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Ganga Forging (GFL) IPO Review

Ganga Forging (GFL) IPO Recommendation Summary

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

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Ganga Forging (GFL) IPO FAQs

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 Jun 29, 2018, and closes on Jul 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 Jun 29, 2018 and closes on Jul 3, 2018.

Ganga Forging (GFL) IPO lot size is 6000 Shares and the minimum order quantity is .

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Ganga Forging (GFL) IPO will be done on Jul 6, 2018, and the allotted shares will be credited to your demat account by Jul 10, 2018. Check the Ganga Forging (GFL) IPO allotment status.

The Ganga Forging (GFL) IPO listing date is on Wednesday, July 11, 2018.
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Ganga Forging (GFL) IPO Message Board

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59 Comments

33. IPOANALYSIS |   Link |Jul 11, 2018 12:46:27 PM
Hi Raj Kumar;. I an holding 12000 allowed shares from.ipo. also added 6000 shares more. I will.keep these for 6 to 8 months
32. RAJAKUMAR |   Link |Jul 11, 2018 10:47:02 AM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Dear IPOANALYSIS
I Sold at 21.10 i exited from this counter.
31. Darsh ipo |   Link |Jul 8, 2018 9:47:22 PM
Any listing gain possible in ganga ?
31.1. IPOANALYSIS |   Link |Jul 10, 2018 8:32:32 PM
tirupati forging issued at 29 rs is now 46 rs

dont think short term. think about long term .
30. RAJAKUMAR |   Link |Jul 7, 2018 11:31:56 AM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Dear IPOANALYSIS
I applied 24k and allotted 24k shares. Today amount debited from my bank account. I applied at 1.45 pm on last day expecting hni will cross 4 or 5 times. But final tally gave surprise for me. HNI portion under subscribed. Now fingers crossed for listing.
30.1. IPOANALYSIS |   Link |Jul 7, 2018 1:14:42 PM
Ok. I am alloted 2 out of 3 applied.
30.2. IPOANALYSIS |   Link |Jul 7, 2018 1:15:29 PM
This has been only sme I applied.
29. IPOANALYSIS |   Link |Jul 4, 2018 1:39:20 AM
dont worry.
If anyone alloted it is a hold for huge long term gain.
i see it similar way as tirupati forge which is given more than 60% returns

29.1. RAJAKUMAR |   Link |Jul 4, 2018 12:54:12 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Dear IPOANALYSIS,
Thank you,
But i am short term investor. I need fund for applying HDFC AMC IPO in shareholder category for my 6 family accounts. I bought one share of HDFC before 14th March in all my family account. I will apply 12th lot in shareholders quota and one lot in retail quota put together the amount will not exceed Rs.2 lakh in all my family accounts.
29.2. IPOANALYSIS |   Link |Jul 4, 2018 1:02:43 PM
Hi Rajkumar,

Has the dates been decalred for HDFC. from what i heard last it has been extended and wont be before 2 weeks

anyway Ganga forging have less chance of going down. Lets , wait for listing
28. RAJAKUMAR |   Link |Jul 3, 2018 5:14:24 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Hni quota full and firm allotment so it is question mark for listing gain.
28.1. IPOANALYSIS |   Link |Jul 3, 2018 6:43:43 PM
Listing gain or not but long term it's good
27. RAJAKUMAR |   Link |Jul 3, 2018 5:12:48 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
HNI 0.84 TIMES
RETAIL 2.63 TIMES
TOTAL 1.64 TIMES.
HNI Quota full and firm allotment. Now Fingers crossed. How listing happens, whether this counter joins or not, last trio (Pantamoth) vasu, Oswal and priti all are listed well.
26. IPOANALYSIS |   Link |Jul 3, 2018 4:27:07 PM
The last forging issue Tirupati forging is almost double issue price.
this one is the only one from the list that might do well from all issues opened

Avoid all others like rudraksh, jakharia fabric etc
25. rahul RII |   Link |Jul 3, 2018 4:12:05 PM
last movement pe pnb asba shows function not awailable show the problm i missed
24. rahul RII |   Link |Jul 3, 2018 3:14:52 PM
This message has been removed by a moderator.
24.1. RAJAKUMAR |   Link |Jul 3, 2018 4:04:33 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
No idea regarding Jakharia. I believe Pantamoth so i applied Ganga
23. rahul RII |   Link |Jul 3, 2018 3:34:09 PM
This message has been removed by a moderator.
23.1. RAJAKUMAR |   Link |Jul 3, 2018 3:48:32 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Dear rahul RII
Retail only subscribing it touches 2 times. But HNI silent today. Time is almost 3 pm. Even then i applied 4th lot one application. Taking risk i applied
22. rahul RII |   Link |Jul 3, 2018 12:16:08 PM
This message has been removed by a moderator.
22.1. RAJAKUMAR |   Link |Jul 3, 2018 1:34:35 PM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Yes. Watching.Waiting.
21. Ashoka |   Link |Jul 3, 2018 1:32:21 PM
Latest subscription fig.pls
21.1. DownriteVJ |   Link |Jul 3, 2018 1:33:53 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
1.11X
20. DownriteVJ |   Link |Jul 3, 2018 1:33:40 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Retail      1.52X
Overall      1.11X
19. AKMP |   Link |Jul 2, 2018 2:44:59 PM
Big avoid
18. khushbir singh |   Link |Jul 2, 2018 12:44:33 PM
Actually SME cos are risky now a days, but since this issue is a small and also having Pantomath in it it could give listing gain, but apply only after seeing the subscription fig on last day at 2 pm.
17. Nirav Babariya |   Link |Jul 2, 2018 4:42:21 AM
Can I apply this ipo?
16. NSEIPO |   Link |Jul 1, 2018 3:24:42 PM
I think small size IPO are better.

SME plate form are meant for such size of companies. And these companies can give better price return compared to large size.
15. jaat boy |   Link |Jun 30, 2018 1:22:31 PM
Kesa h ye ipo koi advise de..????
14. CAMANISH |   Link |Jun 29, 2018 6:39:43 PM
Many of the comment are irrelevant...
we Should discuss on ganga Forging limited......