Forge Auto International Limited IPO

Forge Auto International Limited  IPO opens on September 26, 2024, and closes on September 30, 2024. The allotment for the Forge Auto International IPO is expected to be finalized on Tuesday, October 1, 2024. Forge Auto International IPO will be listed on NSE SME with a tentative listing date fixed as Friday, October 4, 2024.

Forge Auto International’s IPO price band is set at ₹102 to ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹259,200.

Forge Auto International IPO is a book built issue of Rs 31.10 crores. The issue is entirely a fresh issue of 28.8 lakh shares.

Forge Auto International IPO Details

Forge Auto International IPO Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Forge Auto International IPO Objectives

The Net Proceeds are proposed to be used by the details as set forth below:

1. To Meet Working Capital Requirements;
2. Repayment of specific borrowing availed by the Company
3. General Corporate Purpose.

About Forge Auto International Limited

Founded in 2001, Forge Auto International Limited specializes in forging and manufacturing precision-engineered components for both the automotive and non-automotive sectors, including agriculture and railway applications. The company has seen significant growth, with revenue rising from ₹10,951.99 lakhs in Fiscal 2021 to ₹17,664.85 lakhs in Fiscal 2023, reflecting a 27% CAGR. Forge Auto produces a range of products such as forks, flange yokes, and gear blanks, all compliant with rigorous quality and safety standards, including ISO 9001:2015 and IATF 16949:2016. With a manufacturing capacity of 20,000 MT for forging and 2.5 million units for machining, the company maintains strong relationships with OEMs through its commitment to quality and timely delivery. As of March 31, 2024, Forge Auto employs 366 permanent staff and has an in-house sales and marketing team of 14.

Forge Auto International Limited Financial Information

Forge Auto International IPO Reservation

Forge Auto International IPO Timeline 

Forge Auto International’s IPO opens on September 26, 2024, and closes on September 30, 2024.