The IPO of Sanghvi Forging Limited has received a very little response from the investors with the 3rd day subscription figure reached to just 0.16 times on an overall basis. Sanghvi Forging IPO is open on 4th May 2011 and will get closed on 9th May 2011 for subscription. The IPO has managed to get a little bit better response from Non Institutional Investors Category where it overbid by 0.45 times on the 3rd day of subscription. The price band for the issue is Rs 80 at lower level and Rs 85 at upper level. 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 category-wise subscription status of IPO on closing of 3rd day is given below:-
Qualified Institutional Buyers (QIBs) : 0.00 times
Non Institutional Investors : 0.45 times
Retail Individual Investors : 0.27 times
Overall : 0.16 times
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 !