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 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.

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 Opening Date	Jun 29, 2018
IPO Closing Date	Jul 3, 2018
Issue Type	Fixed Price Issue IPO
Face Value	₹10 per equity share
IPO Price	₹21 per equity share
Market Lot	6000 Shares
Min Order Quantity	6000 Shares
Listing At	NSE SME
Issue Size	2,382,000 Eq Shares of ₹10 (aggregating up to ₹5.00 Cr)

Ganga Forging (GFL) IPO Tentative Timetable

The Ganga Forging (GFL) IPO open date is Jun 29, 2018, and the close date is Jul 3, 2018. The issue may list on Jul 11, 2018.

IPO Open Date	Jun 29, 2018
IPO Close Date	Jul 3, 2018
Basis of Allotment Date	Jul 6, 2018
Initiation of Refunds	Jul 9, 2018
Credit of Shares to Demat Account	Jul 10, 2018
IPO Listing Date	Jul 11, 2018

Ganga Forging (GFL) IPO Lot Size

The Ganga Forging (GFL) IPO market 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 (Cut-off)
Minimum	1	6000	₹126,000
Maximum	1	6000	₹126,000

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

The Ganga Forging (GFL) IPO is subscribed 1.78x times on Jul 3, 2018 17:00. The public issue subscribed 2.80x in the retail category, in the QIB category, and 0.84x in the NII category. Check Day by Day Subscription Details (Live Status)

Category	IPO Subscription
NII	0.84x
RII	2.80x
Others	1.00x
Total	1.78x

Ganga Forging (GFL) IPO Prospectus

› Ganga Forging (GFL) IPO DRHP
› Ganga Forging (GFL) IPO RHP

Ganga Forging (GFL) IPO Rating

3.5

Rating:

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 equity share
Face Value	₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume

	NSE SME
IPO Price:	₹21.00
Open:	₹21.10
Low:	₹21.00
High:	₹21.30
Last Trade:	₹21.20
Volume:	486,000

Ganga Forging (GFL) IPO Reviews / Ratings

Dilip Davda - Avoid

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
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

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

Ganga Forging (GFL) IPO Lead Manager(s)

Pantomath Capital Advisors Pvt Ltd

Lead Manager Reports

Ganga Forging (GFL) IPO FAQs

What is Ganga Forging (GFL) IPO?

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 equity 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.
When Ganga Forging (GFL) IPO will open?

The Ganga Forging (GFL) IPO opens on Jun 29, 2018 and closes on Jul 3, 2018.
What is the lot size of Ganga Forging (GFL) IPO?

Ganga Forging (GFL) IPO lot size is 6000 Shares and the minimum order quantity is 6000 Shares.
How to apply for Ganga Forging (GFL) IPO?

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.
When Ganga Forging (GFL) IPO allotment?

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.
When is Ganga Forging (GFL) IPO listing date?

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

Ganga Forging (GFL) IPO Message Board

Ranked Members

33. IPOANALYSIS |Jul 11, 2018 11:46

IPO Guru (1900+ Posts, 1500+ Likes)

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 |Jul 11, 2018 09:47

IPO Guru (1400+ Posts, 1000+ Likes)

Dear IPOANALYSIS
I Sold at 21.10 i exited from this counter.

31. Darsh ipo |Jul 8, 2018 20:47

Any listing gain possible in ganga ?

31.1. IPOANALYSIS |Jul 10, 2018 19:32

IPO Guru (1900+ Posts, 1500+ Likes)

tirupati forging issued at 29 rs is now 46 rs

dont think short term. think about long term .

30. RAJAKUMAR |Jul 7, 2018 10:31

IPO Guru (1400+ Posts, 1000+ 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 |Jul 7, 2018 12:14

IPO Guru (1900+ Posts, 1500+ Likes)

Ok. I am alloted 2 out of 3 applied.

30.2. IPOANALYSIS |Jul 7, 2018 12:15

IPO Guru (1900+ Posts, 1500+ Likes)

This has been only sme I applied.

29. IPOANALYSIS |Jul 4, 2018 00:39

IPO Guru (1900+ Posts, 1500+ Likes)

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 |Jul 4, 2018 11:54

IPO Guru (1400+ Posts, 1000+ 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 |Jul 4, 2018 12:02

IPO Guru (1900+ Posts, 1500+ Likes)

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 |Jul 3, 2018 16:14

IPO Guru (1400+ Posts, 1000+ Likes)

Hni quota full and firm allotment so it is question mark for listing gain.

28.1. IPOANALYSIS |Jul 3, 2018 17:43

IPO Guru (1900+ Posts, 1500+ Likes)

Listing gain or not but long term it's good

27. RAJAKUMAR |Jul 3, 2018 16:12

IPO Guru (1400+ Posts, 1000+ 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 |Jul 3, 2018 15:27

IPO Guru (1900+ Posts, 1500+ Likes)

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 |Jul 3, 2018 15:12

last movement pe pnb asba shows function not awailable show the problm i missed

24. rahul RII |Jul 3, 2018 14:14

This message has been removed by a moderator.

24.1. RAJAKUMAR |Jul 3, 2018 15:04

IPO Guru (1400+ Posts, 1000+ Likes)

No idea regarding Jakharia. I believe Pantamoth so i applied Ganga

23. rahul RII |Jul 3, 2018 14:34

This message has been removed by a moderator.

23.1. RAJAKUMAR |Jul 3, 2018 14:48

IPO Guru (1400+ Posts, 1000+ 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 |Jul 3, 2018 11:16

This message has been removed by a moderator.

22.1. RAJAKUMAR |Jul 3, 2018 12:34

IPO Guru (1400+ Posts, 1000+ Likes)

Yes. Watching.Waiting.

21. Ashoka |Jul 3, 2018 12:32

Latest subscription fig.pls

21.1. DownriteVJ |Jul 3, 2018 12:33

IPO Guru (1200+ Posts, 1100+ Likes)

1.11X

20. DownriteVJ |Jul 3, 2018 12:33

IPO Guru (1200+ Posts, 1100+ Likes)

Retail 1.52X
Overall 1.11X

19. AKMP |Jul 2, 2018 13:44

Big avoid

18. khushbir singh |Jul 2, 2018 11:44

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 |Jul 2, 2018 03:42

Can I apply this ipo?

16. NSEIPO |Jul 1, 2018 14:24

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 |Jun 30, 2018 12:22

Kesa h ye ipo koi advise de..????

14. CAMANISH |Jun 29, 2018 17:39

Many of the comment are irrelevant...
we Should discuss on ganga Forging limited......

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

Company Promoters:

Company Financials:

Objects of the Issue:

Ganga Forging (GFL) IPO Details

Ganga Forging (GFL) IPO Tentative Timetable

Ganga Forging (GFL) IPO Lot Size

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

Ganga Forging (GFL) IPO Prospectus

Ganga Forging (GFL) IPO Rating

Ganga Forging (GFL) IPO Listing Date

Listing Day Trading Information

Ganga Forging (GFL) IPO Reviews / Ratings

Company Contact Information

Ganga Forging (GFL) IPO Registrar

Ganga Forging (GFL) IPO Lead Manager(s)

Ganga Forging (GFL) IPO FAQs

What is Ganga Forging (GFL) IPO?

When Ganga Forging (GFL) IPO will open?

What is the lot size of Ganga Forging (GFL) IPO?

How to apply for Ganga Forging (GFL) IPO?

When Ganga Forging (GFL) IPO allotment?

When is Ganga Forging (GFL) IPO listing date?

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