IPO Update: SHREE GANESH FORGINGS

SGF has come up with an initial public offer of 50 lakh equity shares of Rs 10 each for cash at a premium of Rs 20 each. The issue is open till May 24, 2005.
At the Offer Price Rs.30 and the EPS of Rs. 5, the offer comes at a P/E of 6.

Considering the current market scenario, the stock is worth considering for applying in the IPO to garner the LISTING gains. However, long term hold in this stock is not advisable. Book your profits within a week of the listing to be on safer side.

Company Info
The company had a total current installed capacity of 15,000 MT per annum. The Company has gone for a major expansion programme and has added 20 ton Counter Blow Hammer and Open Forging facilities which will substantially increase the current installed capacity to nearly 30,000 MT per annum
SGF baosts of customers in the Automotive Industry, Two Wheeler Industry, Earth Moving Industry, Tractor Industry and for Defense application.
The compnay has been incerasing its export pie. It has export customers in USA, Canada, U.K., Ireland, Europe and Middle East markets