Forge Auto International Limited IPO
NSE SMEListed On: Jan 4, 2025 at ₹ 113.0
₹ 259200 /2400 Shares
*Min Investment
26 Sep, 2024
Open Date30 Sep, 2024
Close Date01 Oct, 2024
Allotment Date04 Jan, 2025
Listing DateExpected Premium is derived from market rumors and internet sources. It does not reflect the actual IPO listing price or value. Please review the RHP and consult a financial advisor before investing.
Forge Auto International IPO Issue Details
- Issue Price ₹102-108 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 28,80,000 shares(aggregating up to ₹31.1 crore)
- Fresh Share 28,80,000 shares(aggregating up to ₹31.1 crore)
- Listing at NSE SME
- List Price 113.0
- Listing Date 2025-01-04
- Lead Manager Hem Securities Limited
- Registrar Bigshare Services Pvt Ltd
Market Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1200 | ₹1,29,600 |
| Retail(max) | 1 | 1200 | ₹1,29,600 |
| NII (min) | 2 | 2400 | ₹2,59,200 |
Forge Auto International IPO Reservation
Forge Auto International IPO offers total 28,80,000 shares. Out of which 5,47,200 (19%) allocated to QIB, 4,10,400 (14.25%) allocated to NII,9,57,600 (33.25%) allocated to RII, NA (NA%) allocated to employees and 8,18,400 (28.42%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,18,400 (28.42%) | |
| Market Maker Shares Offered | 1,46,400 (5.08%) | |
| QIB Shares Offered | 5,47,200 (19%) | |
| NII (HNI) Shares Offered | 4,10,400 (14.25%) | |
| Retail Shares Offered | 9,57,600 (33.25%) | |
| Total Shares Offered | 28,80,000 (100%) |
Forge Auto International IPO Documents
Forge Auto International IPO Details
Forge Auto International Limited IPO is an SME IPO, priced at ₹102-108 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 28,80,000 equity shares, aggregating up to ₹31.1 crores..
The IPO bidding window is open from Sep 26, 2024 to Sep 30, 2024. The allotment is expected to be finalized on Oct 1, 2024, and the tentative listing date is Jan 4, 2025.
The minimum lot size for retail investors is 1200 shares, with a minimum investment of ₹1,29,600. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,59,200.
Hem Securities Limited is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Hem Finlease Private Limited will act as the market maker for this issue.
Forge Auto International IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 547,200 / 410,400 | 957,600 | 1,915,200 |
Day 1 26-09-24 06:00 PM | 6.55 / 2.35 x | 4.47 x | 4.61 x |
Day 2 27-09-24 06:00 PM | 7.40 / 5.87 x | 15.79 x | 11.27 x |
Day 3 30-09-24 06:00 PM | 20.13 / 58.55 x | 61.95 x | 49.35 x |
Forge Auto International Valuations
Forge Auto International Company Financials
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 10,148.67 | 8,274.29 | 5,677.94 |
| Revenue | 18,157.3 | 17,764.43 | 13,400.28 |
| Profit After Tax | 668.88 | 496.29 | 264.34 |
| Net Worth | 2,020.88 | 1,660.35 | 1,367.73 |
| Reserves & Surplus | 1,276.88 | N/A | N/A |
| Total Borrowing | 4,046.00 | 3,183.2 | 2,620.16 |
About Forge Auto International Company
Incorporated in 2001, Forge Auto International Limited is an engineering company that forges and manufactures complex, safety-critical, forged, and precision-machined components for the auto industry (automobiles, tractors, railways) and non-auto sectors (agriculture parts, hydraulic parts, striking tools).
The company serves its customers, which include original equipment manufacturers from the domestic and international sectors engaged in the manufacturing of automotive as well as non-automotive products. The products used in a number of industries cater to a diversified customer base.
Revenue from sales of machined and forging products of the company has increased to Rs 17664.85 lakhs in Fiscal 2023 from Rs 10951.99 lakhs of Fiscal 2021. This registers a CAGR of 27% and indicates that the company has now begun to focus more upon its products.
The company produces short and long forks, flange yokes, ball studs, gear blanks, and stub axle assemblies for commercial vehicles, railway bogies, tractors, agricultural equipment, and sledgehammers.
The company is certified with the following standards: ISO 9001:2015 quality management systems, ISO 14001:2015 environmental management systems, OHSAS 18001:2007 occupational health and safety management systems, IATF 16949:2016 for business with OEMs manufacturing components in the automotive industry, and ZED GOLD by the Government of India for sustainability with Zero Effect and Zero Defect.
As of March 31, 2024, there are 14 employees in house sales and marketing.
As of March 31, 2024, the total permanent employees were 366 in different departments.
Forge Auto International - Promoter(s)
Parmod Gupta
Rajan Mittal
Pre Issue Share Holding : 100%
Post Issue Share Holding : 73.63%
Forge Auto International IPO - Issue Objectives
To meet Working Capital requirements
Repayment of specific borrowing availed by the Company
General Corporate Purpose
Forge Auto International IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Forge Auto International Limited | 10.21 | 10.21 | 25.88 | 12.98 | 32.14 | 4.32 | Restated |
| Balu Forge Industries Limited | 9.8 | 9.74 | N/A | 81.87 | 16.94 | N/A | Standalone |
| MM Forging Limited | 55.94 | 55.94 | N/A | 10.34 | 17.11 | N/A | Standalone |
| Happy Forgings Limited | 26.78 | 26.75 | N/A | 45.32 | 15.07 | N/A | Standalone |
| Samrat Forgings Ltd | 5.95 | 5.95 | N/A | 62.34 | 9.42 | N/A | Standalone |
Notes:
- The EPS, NAV, RoNW and total Income of our Company are taken as per the Restated Financial Statement for the Financial Year 2023-24.
- NAV per share is computed as the closing net worth divided by the weighted average number of paid up equity shares as on March 31, 2024.
- RoNW has been computed as net profit after tax divided by closing net worth.
- Net worth has been computed in the manner as specifies in Regulation 2(1) (hh) of SEBI (ICDR) Regulations, 2018.
Contact Details
Forge Auto International
Village Mangarh, KoharaMachhiwara Road, Ludhiana,-, 141001
+91- 8999999195
Registrar Contact Details
Bigshare Services Pvt Ltd
+91-22-6263 8200
Forge Auto International IPO - FAQs
Ans. Forge Auto International Limited IPO is a SME IPO. The issue is priced at ₹102-108 per equity share. The minimum order quantity is 1200 Shares. The IPO opens on Sep 26, 2024, and closes on Sep 30, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Ans. The Forge Auto International Limited IPO opens on Sep 26, 2024 and closes on Sep 30, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of Forge Auto International Limited IPO is 2,880,000 shares(aggregating up to ₹31.10 Cr).
Ans. The Forge Auto International Limited IPO price band is set between ₹102-108 per equity share.
Ans. To apply for Forge Auto International Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Forge Auto International Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Forge Auto International Limited IPO is Oct 1, 2024.
Ans. The Forge Auto International Limited IPO will be listed on Jan 4, 2025.
Ans. Follow the steps to check the Forge Auto International Limited IPO allotment status online.
