Forge Auto International IPO will open on September 26, 2024, and will close on September 30, 2024. Notably, the IPO will follow a Book Built Issue format, with the company aiming to raise approximately ₹31.10 crores. This amount includes a fresh issue of ₹31.10 crores, as well as an offer for sale of an undisclosed number of equity shares, each with a face value of ₹10.
Table of contents
- Forge Auto International IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Lakhs)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- Forge Auto International IPO GMP (Grey Market Premium)
- Forge Auto International IPO Application Form PDF
- Forge Auto International IPO Subscription Status
- Forge Auto International IPO Allotment Status
- IPO Review
- Forge Auto International IPO Registrar
- Forge Auto International IPO Lead Manager
- Forge Auto International Limited Contact
- FAQs
Forge Auto International IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | Forge Auto International Limited |
| Industry | Automotive and Engineering |
| IPO Issue Type | Book Built Issue |
| Open Date | September 26, 2024 |
| Close Date | September 30, 2024 |
| Total Issue Size | ₹31.10 Crores (2,880,000 Equity Shares) |
| Fresh Issue | ₹31.10 Crores (2,880,000 Equity Shares) |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹102 to ₹108 per share |
| Listing on | NSE SME |
| Lot Size | 1200 Shares |
| Offer for Sale | NA |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
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.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | September 26, 2024 |
| IPO Close Date | September 30, 2024 |
| Basis of Allotment | October 1, 2024 |
| Refunds | October 3, 2024 |
| Credit to Demat Account | October 3, 2024 |
| IPO Listing Date | October 4, 2024 |
Financials (₹ in Lakhs)
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹9,127.24 | ₹8,274.29 | ₹5,677.94 |
| Revenue | ₹13,540.6 | ₹17,764.43 | ₹13,400.28 |
| Profit After Tax | ₹362.22 | ₹496.29 | ₹264.34 |
| Net Worth | ₹1,774.22 | ₹1,660.35 | ₹1,367.73 |
| Reserves and Surplus | ₹402 | ₹1,660.35 | ₹1,367.73 |
| Total Borrowing | ₹3,228.63 | ₹3,183.2 | ₹2,620.16 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹129,600 |
| Retail (Max) | 1 | 1,200 | ₹129,600 |
| HNI (Min) | 2 | 2,400 | ₹259,200 |
The objective of the Issue
- To support its working capital needs, the company plans to utilize funds for the repayment of certain borrowings previously taken.
- Additionally, the funds will be allocated towards general corporate purposes to further strengthen its overall operations.
Company Promoters
- Mr. Parmod Gupta
- Mr. Rajan Mittal
Forge Auto International IPO GMP (Grey Market Premium)
Are you curious about the latest Grey Market Premium (GMP) for the Forge Auto International IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including Forge Auto International Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
Forge Auto International IPO Application Form PDF
To download the Forge Auto International IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
Forge Auto International IPO Subscription Status
This IPO subscription kicks off on September 26, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Forge Auto International IPO Allotment Status
To check the Forge Auto International IPO allotment status go to the IPO registrar website Bigshare or go to IPO Allotment.
Furthermore, To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- The company benefits from long-standing relationships with customers across various industries.
- Additionally, its advanced manufacturing facilities and focus on quality and customer satisfaction are key strengths.
- Backed by experienced promoters and strong management, the company also has a solid track record of healthy financial performance.
Risks:
- The company does not have long-term contracts with its customers, and if customers opt to source products elsewhere or manufacture in-house, it could impact business operations.
- Furthermore, demand for the company’s products is closely tied to the growth and trends of its customers’ industries, meaning a decline in its sales could negatively affect its business and financial performance.
- The company depends on a few key suppliers without long-term contracts, and any disruption in supply could negatively impact its operations and finances.
Forge Auto International IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Forge Auto International IPO Lead Manager
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Forge Auto International Limited Contact
FORGE AUTO INTERNATIONAL LIMITED
Village Mangarh, Kohara-Machhiwara Road,
Ludhiana, Punjab, India, 141001
Phone: +91- 8999999195
E-mail: sm@aint.in
Website: www.failtd.com
FAQs
The offer size ranges from ₹29.38 to ₹31.10 crores.
Additionally, The price band is set between ₹102 and ₹108 per share.
The lot size is 1,200 shares.
The allotment date is October 1, 2024.
Furthermore, The IPO will be listed on October 4, 2024, on the NSE.
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