The Ganga Forging date has been confirmed from June 29, 2018 and ended on July 3, 2018.
Ganga Forging Developers IPO is a fixed price issue of Rs 5.00 crores. The price is ₹21 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹126,000.
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Bidding Dates
June 29-July 3
Price Range
₹21 per share
Face Value
₹10 per share
GMP
₹6.80
Ganga Forging IPO GMP
The Ganga Forging IPO GMP is ₹6.80.
IPO Overview
Ganga Forging (GFL) IPO is a Rs 5.00 crore fixed price issuance. The IPO bidding for Ganga Forging (GFL) began on June 29, 2018 and closed on July 3, 2018. On Friday, July 6, 2018, the Ganga Forging (GFL) IPO allotment was completed. On July 11, 2018, the shares were listed on the NSE SME. The IPO price for Ganga Forging (GFL) is 21 per share. A lot size of 6000 shares is required for an application. Retail investors must make a minimum investment of ₹126,000.
The manufacturing facilities are well-equipped with the necessary facilities, such as machinery and other handling equipment, to ensure a smooth manufacturing process. There are 68 full-time employees on the company’s payroll.
Ganga Forging IPO Details
| IPO Date | June 29, 2018 to July 3, 2018 |
| Listing Date | July 11, 2018 |
| Face Value | ₹10 per share |
| Price | ₹21 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 2,382,000 shares (aggregating up to ₹5.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 126,000 shares |
Ganga Forging Company Financials
| 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 | |
Ganga Forging (GFL) IPO Timeline
| IPO Open Date | Friday, June 29, 2018 |
| IPO Close Date | Tuesday, July 3, 2018 |
| Basis of Allotment | Friday, July 6, 2018 |
| Initiation of Refunds | Monday, July 9, 2018 |
| Credit of Shares to Demat | Tuesday, July 10, 2018 |
| Listing Date | Wednesday, July 11, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 3, 2018 |
Company Profile
“Ganga Forging Limited,” situated in Gujarat, was founded in 1988 and specialises in the production of closed die forged products for the automotive and non-automotive markets. The automotive industry manufactures products for commercial vehicles, passenger cars, three-wheelers, two-wheelers, and tractors. Electric power transmission, dairy equipment manufacture, agriculture, gear and gearbox, crankshafts, connecting road, heavy engineering industries, hubs and flanges are all part of the non-automotive market. With a presence in the
majority of allied products in this business, the Company serves a diverse spectrum of consumers. The company’s current manufacturing facility is outfitted with four Drop Hammers, two automatic power presses, two manual power presses, and four furnaces in the forge shop.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | gangaforging.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | Ganga Forging Limited |
| Phone number | +912827-252208 /252077 |
| Email ID | info@gangaforging.com |
| Website | gangaforging.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
