Sanghvi Forging IPO : CARE gives 3 out of 5

by khalid on 01/05/2011 · 1 comment

Forging products manufacturer Sanghvi Forging IPO has got 3 out of 5 by CARE (rating agency) and this rating/grading is ‘Average’ for a forging products manufacturer company. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. Sanghvi Forging & Engineering Limited (SFEL) is engaged in manufacture and marketing of Stainless Steel Forged and Machined Subtends, Forged Flanges, Forged Fittings and CNC Machined Forged Parts & Automobile Components in India. Company has its own Forge Shop, Die Shop, Heat Treatment Shop, CNC based Machine Shop.

The IPO proceeds will be used by Sanghvi Forging & Engineering Limited (SFEL) to finance the cost of setting up 15,000 MTPA open die forging unit, to manufacture proof machined products viz. stepped shafts, bars & hollows, blocks, flanged shafts, gear blanks, forging items etc, to meet the requirement of margin money for working capital for the New Project, to meet the pre-operative expenses including Issue expenses and to achieve the benefits of listing on the stock exchanges.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Sole Book running lead managers (BRLM) to the issue is Arihant Capital Markets Ltd

Registrar of the Issue : Bigshare Services Pvt. Limited, Mumbai

Stay tuned to BelltheBull Blog for more on Sanghvi Forging IPO !

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Open die forgings September 29, 2012

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