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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.
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.
| 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.
| 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) |
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 |
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 |
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 7/3/2018 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) |
|---|---|
| NII | 0.84 |
| Retail | 2.80 |
| Others | 1.00 |
| Total | 1.78 |
| 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 |
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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/
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.
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 6000 Shares.
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.
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