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 |
