Business 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) | ||||||
| Â 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: +91Â 2827-252208
Email: [email protected]
Website: www.gangaforging.com
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
Email: [email protected]
Website:Â http://www.linkintime.co.in
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)
