Forging products manufacturer Sanghvi Forging and Engineering Limited is entering into primary market with an Initial Public Offer (IPO) of —- Equity Shares of Rs 10 each. The IPO is opening on 4th May 2011 and the shares will be available for subscription up to 9th May 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 80 – Rs 85 Per Equity Share. The company is likely to raise around Rs 36.90 Crore through the issue at the upper level of price band. 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 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).
Issue Open : 4th Apr 2011 – 9th May 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : —– Equity Shares of Rs 10 each
Issue Size : Rs 36.90 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 80 – Rs 85 Per Equity Share
Minimum Bid Quantity : 70 Shares (Rs. 5950 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2310 Shares (Rs. 196350 with 33 Lots ) @ upper level of price band
Listing At : BSE, 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
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