Sanghvi Forgings & Engineering today said it has fixed a price-band of Rs 80-85 a share for its Rs 37 crore initial public offer.
The public issue is scheduled to open on May 4 and close on May 6, Sanghvi Forgings & Engineering said in a statement.
The company is engaged in the manufacturing and export of forging products for the non-automotive sector.
It said the proceeds of the issue would be mainly used for setting up 15,000 metric tonnes per annum (mtpa) open die forging unit.
Arihant Capital Markets is the book running lead manager to the issue.
The company's profitability has increased from Rs 2.47 crore in FY 2010 to Rs 2.95 crore for the nine months period ended December 31, 2010.
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