News Details
Category : IPO
Headline : Ganga Forging announces launch of initial public offering
Date: 28/06/2018 17:43
Ganga Forging Ltd. has announced public offering of 2382000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 11.00 per share. The gross proceeds of the issue are expected to be Rs 500.22 lakhs.

The company's initial public offer (IPO) will open on Friday, June 29, 2018 and is expected to close on Tuesday, July 3, 2018, subject to customary closing conditions.

The IPO includes a fresh Issue of 2382000 Equity Shares of the Company at an price of Rs 21.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 6000 shares with bids in multiples of 6000.

Ganga Forging Ltd. anticipates using the proceeds of the issue for To finance setting up of Closed Die Forging manufacturing facility General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead manager & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.