Forge Auto International IPO subscription status started on September 26, 2024, and closed on September 30, 2024. The company aims to raise approximately ₹31.10 crore via this IPO. The retail quota is 35%, and QBI is 50%. The price band is ₹102 to ₹108 per equity share.
The IPO consists of a minimum market lot of 1200 Shares requiring an application amount of ₹129,600. Forge Auto International is an SME IPO that will be listed on the NSE.
Also read: Forge Auto International IPO: Dates, Pricing and Allotment 2024
Table of contents
About Company
Established in 2001, Forge Auto International Limited is an engineering firm specializing in the forging and manufacturing of complex, safety-critical components that are both forged and precision-machined. These components serve the automotive industry, including automobiles, tractors, and railways, as well as the non-automotive sectors like agriculture, hydraulics, and striking tools.
The company caters to a wide range of customers, including domestic and international original equipment manufacturers (OEMs) in both the automotive and non-automotive industries. Its products are utilized across multiple sectors, highlighting its diverse and expansive customer base.
From Fiscal 2021 to Fiscal 2023, Forge Auto International saw a significant increase in revenue from its machined and forged products, growing from ₹10,951.99 lakhs to ₹17,664.85 lakhs. This represents a compound annual growth rate (CAGR) of 27%, underscoring the company’s intensified focus on product innovation and quality. The company’s product lineup includes short and long forks, flange yokes, ball studs, gear blanks, and stub axle assemblies, which are crucial components for commercial vehicles, railway bogies, tractors, agricultural machinery, and sledgehammers.
Moreover, Forge Auto International holds multiple certifications that reflect its commitment to quality, safety, and sustainability. These include ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, OHSAS 18001:2007 for occupational health and safety, IATF 16949:2016 for working with OEMs in the automotive industry, and the ZED GOLD certification from the Government of India for Zero Effect and Zero Defect sustainability standards.
IPOGMP.IN View
We strongly recommend that investors apply for the IPO with a long-term perspective. Furthermore, investors should carefully review the QIB, NII, and retail subscription figures before making an investment decision.
Forge Auto International IPO Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 6.55 | 7.40 | 20.13 |
| NII | 2.35 | 5.87 | 58.55 |
| RII | 4.47 | 15.79 | 61.95 |
| Total | 4.61 | 11.27 | 49.28 |
Forge Auto International IPO Investor Categories
- Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
- Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc
- Retail Individual Investors (RII): Retail Individual Investors or NRIs
- Employee (EMP): Eligible Employees
- Others: Eligible Shareholders
IPOGMP.IN Review for Forge Auto International
- May Apply
Forge Auto International IPO Form
To apply for the Forge Auto International IPO, use ASBA via your bank’s online portal or download and submit IPO forms through your bank or broker.
FAQs
The subscription begins on September 26, 2024, for QIB, NII, and retail investors.
To subscribe, you can choose either ASBA or non-ASBA. Simply apply online through your bank or alternatively submit the form to your broker.
You can visit our portal for hourly updates; additionally, check the official IPO page for live numbers.
Firstly, log in to Zerodha, then go to Portfolio, select the “Forge Auto International” IPO, and submit your bid. Finally, approve via UPI.
Log in to Upstox, select the “Forge Auto International” IPO, submit your bid, and then approve via UPI.
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