Ganga Forging IPO

Ganga Forging IPOBusiness description - Ganga Forging is a manufacturer in forging industry and is engaged in manufacturing of closed die forged products catering to both automotive and non-automotive segments. Automotive segment includes manufacturing of products catering to commercial vehicle, passenger car, three wheeler, two wheeler and tractor. Non-automotive segment includes electric power transmission, dairy equipment manufacturing, agricultural, gear and gear box, crank shafts, connecting road, heavy engineering industrial, hubs and flanges.

The company is equipped with in-house testing laboratory for checking of raw materials, working in process materials and finished products. The company also complies with Quality Assurance System like ISO and strives to deliver quality products to the customers. Ganga Forging is ISO 9001:2008 certified.

Promoters of Ganga Forging – Hiralal Tilva and Rakesh Patel
Ganga Forging IPO details
Subscription Dates 29 June - 3 July 2018
IPO Price band INR21 per share
Fresh issue 2,382,000 shares (INR5.00 crore)
Offer for sale Nil
Total IPO size 2,382,000 shares (INR5.00 crore)
Minimum bid (lot size) 6,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform
Use of funds
  • To finance setting up of Closed Die Forging manufacturing facility - INR4.60 crore
  • Issue expenses - INR0.40 crore
Ganga Forging's financial performance (in INR lakh)
 FY2013 FY2014 FY2015 FY2016 FY2017 9M FY2018
Total revenue 1,556.9 1,696.0 1,557.2 1,769.4 1,779.2 1,818.5
Total expenses 1,508.1 1,618.0 1,503.3 1,736.7 1,722.6 1,765.9
Profit after tax 32.1 60.7 46.6 25.3 48.5 38.7
Ganga Forging's Contact Details

Ganga Forging Limited
Plot No 1 SNO 298 & 30
Veraval (Shapar)
Rajkot - 360 024

Phone: +91 2827-252208

Ganga Forging IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.76
Day 2 1.01
Day 3 1.73
Ganga Forging Valuation (Latest FY)

Earnings Per Share (EPS): INR1.39

Price/Earnings (P/E) ratio: 15.11

Return on Net Worth (RONW): 12.34%

Net Asset Value (NAV): INR11.23 per share

Registrar of Ganga Forging IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai - 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195

Ganga Forging IPO Allotment Status

Ganga Forging IPO allotment status is now available on Link Intime's website. Click on this link to get allotment status.

Listing performance of Ganga Forging

IPO Opening Date: 29 June 2018

IPO Closing Date: 3 July 2018

Finalisation of Basis of Allotment: 6 July 2018

Initiation of refunds: 9 July 2018

Transfer of shares to demat accounts: 10 July 2018

Listing Date: 11 July 2018

Listing Price on NSE SME: INR21.10 per share (up 0.48% from IPO price)

Closing Price on NSE SME: INR21.30 per share (up 1.43% from IPO price)

Ganga Forging IPO
Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *