Forge Auto International Limited IPO

NiftyTrader • September 22, 2024

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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

IPO Date	September 26, 2024 to September 30, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹102 to ₹108 per share
Lot Size	1200 Shares
Total Issue Size	2,880,000 shares (aggregating up to ₹31.10 Cr)
Fresh Issue	2,880,000 shares (aggregating up to ₹31.10 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	8,040,000
Shareholding post-issue	10,920,000

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.

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹129,600
Retail (Max)	1	1200	₹129,600
S-HNI (Min)	2	2400	₹259,200

Forge Auto International IPO Objectives

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

To Meet Working Capital Requirements;
Repayment of specific borrowing availed by the Company
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

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	9,127.24	8,274.29	5,677.94	5,306.96
Revenue	13,540.6	17,764.43	13,400.28	10,975.23
Profit After Tax	362.22	496.29	264.34	160.55
Net Worth	1,774.22	1,660.35	1,367.73	1,087.34
Reserves and Surplus	402	1,660.35	1,367.73	1,087.34
Total Borrowing	3,228.63	3,183.2	2,620.16	2,290.98
				Amount in ₹ Lakhs

Forge Auto International IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net Issue
Retail Shares Offered	Not less than 35.00% of the Net Issue
NII (HNI) Shares Offered	Not more than 15% of the Net Issue

Forge Auto International IPO Timeline

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

IPO Open Date	Thursday, September 26, 2024
IPO Close Date	Monday, September 30, 2024
Basis of Allotment	Tuesday, October 1, 2024
Initiation of Refunds	Thursday, October 3, 2024
A credit of Shares to Demat	Thursday, October 3, 2024
Listing Date	Friday, October 4, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 30, 2024