Sanghvi Forging IPO : Listing on 23rd May 2011

by khalid on 21/05/2011 · 0 comments

Sanghvi Forging & Engineering Limited (SFEL) has informed the share market (BSE/NSE) that the shares of its recent IPO will list on 23rd May 2011. The IPO was open between 4th May 2011 to 9th May 2011. The price band was Rs 80 to Rs 85 and the Issue Price was fixed at the upper level of price band, Rs 85 per equity share. The company had entered into primary market with an Initial Public Offer (IPO) of Rs 36.90 Crore. 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.

IPO Listing Detail :-
Listing Date: 23rd May 2011
BSE Scrip Code : 533411
Listing In : ‘B’ Group of Securities
ISIN : INE263L01013
Issue Price : Rs. 85.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

The proceeds of the IPO are proposed to be utilized 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 offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (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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