Ganga Forging Limited IPO

Add to Calendar 2018-06-29 12:00 AM 2018-07-03 12:00 AM Asia/Kolkata Ganga Forging Limited IPO Ganga Forging Limited India

Ganga Forging Limited was established as ‘Ganga Forging Private Limited’ under the provisions of the Companies Act, 1956, on 29th December 1988 in Gujarat.  It is currently involved in forging industry and is engaged in the manufacturing of the closed die forged products serving automotive as well as non- automotive divisions.

Date of Establishment: Ganga Forging Limited was established as a private limited company under the name of ‘Ganga Forging Private Limited’ on 29th of December 1988 under the provision of the Companies Act 1956 by Registrar of Companies, Gujarat. It was incorporated as a Public Limited Company on 30th October 2017 and the name was reformed to ‘Ganga Forging Limited’ and a fresh Certificate of Incorporation was issued to them by the Registrar of Companies, Ahmedabad, Gujarat.

Promoters of Ganga Forging Limited: Mr. Hiralal Tilva and Mr. Rakesh Patel are the promoters of Ganga Forging Limited.

Products and Services offering: Ganga Forging Limited currently manufactures closed die forged products which are served to automotive and non-automotive sectors.  Mainly automotive sectors include manufacturing of products served to commercial vehicle, three wheelers, two wheelers, passenger car and tractor. Non automotive sectors include dairy equipment manufacturing, agricultural, gear and gearbox, heavy engineering industry, electric power transmission, connecting road, crank shafts, hubs and flanges.

Customer segments: The Ganga Forging Limited has a presence in most of the allied products in the industry, therefore there customer segments has diversified range of customers that they serve. Their customers in the segments mainly include Amul Industries Pvt. Ltd, Mosdorfer India Pvt. Ltd, Steel Overseas, Star Techno Engineers besides others.

Objects of Ganga Forging Limited IPO: The objectives of Ganga Forging Limited IPO are

- To finance setting up of Closed Die Forging manufacturing facility.

- Corporate General Expenses.

Companies Financials:

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Issue Detail

  • Issue Open: Jun 29, 2018
  • Issue Close: Jul 03, 2018
  • Issue Type: Fixed Price Issue IPO
  • Face Value: Rs 10 Per Equity Share
  • Price Band: Rs 21 Per Equity Share
  • Bid Lot:6000 Shares
  • Minimum Order Quantity:6000 Shares
  • Listing At: NSE SME
  • Issue Size: • Rs 5.00 Cr

Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Others Total
Shares Offered / Reserved - 1,128,000 1,128,000 - - 2,256,000
Day 1 - Jun 29, 2018IST - 834000 984000 - - 1818000
Day 2 - Jul 02, 2018IST - 834000 1566000 - - 2400000
Day 3 - Jul 03, 2018IST - 948000 3162000 - - 4236000

Listing Day Trading Information

Issue Price - Rs 21.00
Open - Rs 21.10
Low - Rs 21.00
High - Rs 21.30
Last Trade - Rs 21.20
Volume - 486,000

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