The Rs 36.9-crore initial public offering of Sanghvi Forging and Engineering, a forging products manufacturer, has opened for subscription. RR Financial Consultants has recommended subscribing the issue for long term gains, citing great prospects ahead in future, in its research report.
The report says, "Company has business experience of 20 years in manufacturing and marketing of Stainless Steel Forged and Machined Subtends, Forged Flanges, Forged Fittings and CNC Machined Forged Parts & Automobile Components in India. The company has a strong and proven track record while delivering products to its customers."
"Company has an average fundamental with a strong asset base.
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