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Sanghvi Forging and Engineering IPO opens for subscription

The IPO of Sanghvi Forging and Engineering Limited (SFEL), engaged in the business of manufacture and marketing of stainless steel forged and machined subtends, forged flanges, forged fittings, CNC machined forged parts and automobile components, has opened for subscription from today

The Equity Shares are being offered in a Price Band of Rs.80/- to Rs.85/- per equity share for shares having a Face Value of Rs.10/- each. The proceeds from the Issue are proposed to be utilized for financing the cost of setting up open die forging unit and for meeting working capital requirements for the new project and for pre-operative expenses including issue expenses

Sanghvi Forging and Engineering Limited (SFEL) IPO would remain open for subscription till Monday, May 09, 2011. However, for QIB Category of Investors, Issue closes on Friday, May 06, 2011. Stay tuned to Indian IPO Blog for latest subscription status updates

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