AMIC Forging IPO will open for subscription from 29 November 2023. The company aims for an issue size of ₹34.80 Cr through this IPO.
Company Overview
| Full name | AMIC Forging Limited |
| Sector | Automobile & Ancillaries |
| Industry | Forgings |
| Company Website | https://amicforgings.com/ |
About Company
The company is a manufacturer in the forging industry and is engaged in manufacturing forged components catering to various industries. AMIC Forging manufacture precision machined components as per customer specifications and International standard catering to the requirements of various industry such as Heavy Engineering, Steel Industry, Oil and gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries.
AMIC Forging has expertise in manufacturing different forging components as per international standards like AISI, BS, IS, DIN, etc. Some of the common running components are Rounds, Shafts, Blanks, and complete finished engineering, spare parts e.g. Gear coupling, Hub, Round, Flange, and other all kinds of engineering spares as per customer specifications. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.
The company’s manufacturing facilities have a forging unit with a 6 Metric tonne capacity Electro Hydraulic Hammer along with a 1 Metric tonne capacity Pneumatic Hammer, each hammer runs with the support of a Manipulator with 3 Overhead Cranes, Jib Cranes, 3 oil-fired furnaces (Temperature controlled) with all necessary accessories. Also, it has a Heat Treatment Plant which has an oil bogie hearth automatically controlled furnace with a four-point recording arrangement & temperature graph indicator/recorder with water and oil quenching arrangement. Apart from the above the company also has a machine shop which contains many machines required for manufacturing process.
The Objectives of the Issue
- Setting up of Manufacturing facility.
- Working Capital Requirements.
- General Corporate Purposes.
AMIC Forging IPO Timetable
| IPO Opening date | 29 November 2023 |
| IPO Closing | 01 December 2023 |
| Basis of Allotment | 06 December 2023 |
| Initiation Refund | 07 December 2023 |
| Credit to Demat Account | 08 December 2023 |
| Listing Date | 11 December 2023 |
AMIC Forging IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹34.80 Cr-2,762,000 shares |
| Fresh Issue | ₹34.80 Cr-2,762,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹121 to ₹126 per share |
| Lot size | 1000 Shares |
| Market Maker portion | 139,000 shares |
| Shareholding pre-issue | 7,726,410 |
| Shareholding post-issue | 10,488,410 |
| Listing Exchange | BSE SME |
AMIC Forging IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹126,000 |
| Retail (Max) | 1 | 1000 | ₹126,000 |
| HNI (Min) | 2 | 2,000 | ₹252,000 |
AMIC Forging IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 786,000 (28.46%) |
| Market Maker Shares Offered | 139,000 (5.03%) |
| QIB Shares Offered | 524,000 (18.97%) |
| NII (HNI) Shares Offered | 394,000 (14.27%) |
| Retail Shares Offered | 919,000 (33.27%) |
| Total Shares Offered | 2,762,000 (100%) |
AMIC Forging Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 26.41 | 71.12 | 115.85 | 29.55 |
| Expenses | 25.64 | 70.15 | 103.68 | 24.89 |
| Net income | 0.56 | 0.87 | 9.80 | 3.60 |
AMIC Forging Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.75 | 1.14 | 12.83 |
| PE ratio | – | – | 9.43 – 9.82 |
| RONW (%) | 8.27 | 11.29 | 49.40 |
| NAV | 9.09 | 10.12 | 25.98 |
| ROCE (%) | 10.05 | 10.31 | 55.78 |
| EBITDA (%) | 5.71 | 3.08 | 11.71 |
| Debt/Equity | 0.58 | 1.37 | 0.26 |
Company Promoters
- Mr. Girdhari Lal Chamaria
- Mr. Anshul Chamaria
- Ms. Manju Chamaria
- Ms. Rashmi Chamaria.
AMIC Forging Promoter Holding
| Pre Issue Share Holding | 78.38% |
| Post Issue Share Holding | 57.74% |
AMIC Forging IPO Lead Manager(s)
GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor,
New Bansilal Building, Raja Bahadur Mansion,
9-15, Homi Modi Street, Fort, Mumbai– 400001
Phone: +91 96532 49863
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
AMIC Forging 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
AMIC Forging Contact Details
AMIC FORGING LIMITED
3A, Garstin Place, 2nd Floor,
Kolkata – 700001, West Bengal, India
Phone: 033 – 40668190
E-mail: amic@amicforgings.com
Website: www.amicforgings.com
AMIC Forging IPO Allotment Status
AMIC Forging IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
AMIC Forging IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
