Forge Auto International IPO will open for subscription from 26 September 2024. The company aims for an issue size of ₹31.10 Cr through this IPO.
Company Overview
| Full name | Forge Auto International Limited |
| Sector | Automobile & Ancillaries |
| Industry | Forgings |
| Company Website | https://www.failtd.com/ |
About Company
Forge Auto International is an engineering company specializing in forging and manufacturing complex, safety-critical, precision-machined components, including big rings, small rings, big ball studs, gear blanks with broach, stub axle assemblies, and flange yokes (325 HS). The company serves various sectors, including the auto industry (automobiles, tractors, railways) and non-auto sectors like agriculture, hydraulics, and striking tools. Its customer base consists mainly of domestic and global original equipment manufacturers (OEMs) supplying both the automotive and non-automotive industries.
The company’s revenue from the sale of machined and forged products increased from INR 109.52 crore in Fiscal 2021 to INR 176.65 crore in Fiscal 2023, achieving a CAGR of 27%. This growth reflects the company’s enhanced focus on these products. The company’s manufacturing facility is located in Ludhiana, Punjab. As of June 2024, Forge Auto International has established a forging capacity of 20,000 MTs and a machining capacity of approximately 25 lakh units. In addition to its domestic sales, the company exports products to countries such as France, Germany, Poland, Brazil, Austria, Turkey, and the United States of America. As of 31 March 2024, the company had 366 permanent employees.
The Objectives of the Issue
- To meet Working Capital requirements
- Repayment of specific borrowing availed by the Company
- General Corporate Purpose
Forge Auto International IPO Timetable
| IPO Opening date | 26 September 2024 |
| IPO Closing | 30 September 2024 |
| Basis of Allotment | 01 October 2024 |
| Initiation Refund | 03 October 2024 |
| Credit to Demat Account | 03 October 2024 |
| Listing Date | 04 October 2024 |
Forge Auto International IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹31.10 Cr – 2,880,000 shares |
| Fresh Issue | ₹31.10 Cr – 2,880,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹102 to ₹108 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 146,400 shares |
| Shareholding pre-issue | 8,040,000 |
| Shareholding post-issue | 10,920,000 |
| Listing Exchange | NSE SME |
Forge Auto International Offer Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹129,600 |
| Retail (Max) | 1 | 1200 | ₹129,600 |
| HNI (Min) | 2 | 2,400 | ₹259,200 |
Forge Auto International Offer Documents
Forge Auto International IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 8,18,400 (28.42%) |
| Market Maker Shares Offered | 1,46,400 (5.08%) |
| QIB Shares Offered | 5,47,200 (19%) |
| NII (HNI) Shares Offered | 4,10,400 (14.25%) |
| Retail Shares Offered | 9,57,600 (33.25%) |
| Total Shares Offered | 28,80,000 (100%) |
Forge Auto International Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 132.88 | 176.65 | 180.12 |
| Expenses | 130.26 | 170.71 | 172.28 |
| Net income | 2.64 | 4.96 | 6.69 |
Forge Auto International Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 4.04 | 7.58 | 10.21 |
| PE ratio | – | 9.99 – 10.58 | |
| RONW (%) | 19.33 | 29.89 | 32.14 |
| NAV | 17.01 | 20.65 | 25.88 |
| ROCE (%) | 13.03 | 18.36 | 17.60 |
| EBITDA (%) | 5.41 | 6.39 | 7.62 |
| Debt/Equity | 1.92 | 1.92 | 1.94 |
Company Promoters
- Parmod Gupta
- Rajan Mittal
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.63% |
Forge Auto International Offer GMP Update
Coming Soon
Forge Auto International IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 5,47,200 | 4,10,400 | 9,57,600 | 19,15,200 |
| 30 Sep 2024 | 20.13 | 58.91 | 61.95 | 49.35 |
| 27 Sep 2024 | 7.40 | 6.03 | 14.44 | 10.63 |
| 26 Sep 2024 | 6.55 | 2.32 | 4.33 | 4.53 |
Forge Auto International IPO Allotment Status
Forge Auto International IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Forge Auto International IPO Listing Details
| Listing Date | 04 October 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
| High | |
| Last Trade |
Forge Auto International IPO Lead Manager(s)
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 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 Contact Details
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
Forge Auto International IPO FAQs
What is the Forge Auto International offer size?
Forge Auto International offer size is ₹ 29.38 – 31.10 crores.
What is the Forge Auto International offer price band?
Forge Auto International public offer price is ₹ 102 – 108 per share.
What is the lot size of the Forge Auto International IPO?
Forge Auto International offer a lot size is 1,200 shares.
What is Forge Auto International Offer GMP today?
Forge Auto International IPO GMP today is ₹ 20 per share.
What is the Forge Auto International kostak rate today?
Forge Auto International kostak rate today is ₹ NA per application.
What is Forge Auto International Subject to the Sauda rate today?
Forge Auto International is Subject to the Sauda rate today is ₹ 21,000 per application.
Final thoughts
Forge Auto International IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
