Forge Auto International IPO Details: The Forge Auto International IPO is set to open on September 26, 2024, and will close on September 30, 2024. This is a Book Built Issue, through which the company aims to raise approximately ₹31.10 crores. The offering includes a fresh issue of ₹31.10 crores and an offer for sale of up to [.] equity shares, each with a face value of ₹10.
The price band for the Forge Auto International IPO is between ₹102 and ₹108 per share. The allocation is structured with 35% reserved for retail investors, 50% for qualified institutional buyers (QIB), and 15% for high-net-worth individuals (HNI). Shares are expected to list on the NSE on October 4, 2024, with allotment results available on October 1, 2024.
In its financial performance, the company reported revenues of ₹177.64 crores for 2023, up from ₹134.00 crores in 2022. Additionally, net profit increased to ₹4.96 crores in 2023, compared to ₹2.64 crores the previous year. Given these financial results, long-term investors may find this IPO worth considering.
Forge Auto International IPO Objectives:
The Net Proceeds are proposed to be used in accordance with the details as set forth below:
- To meet Working Capital requirements
- Repayment of specific borrowing availed by the Company
- General Corporate Purpose
Forge Auto International IPO Review (Apply or Not)
- Update soon
Forge Auto International IPO Date & Price Band Details:
| IPO Open Date: | September 26, 2024 |
| IPO Close Date: | September 30, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹102 to ₹108 Per Share |
| Issue Size: | Approx ₹31.10 Crores |
| Fresh Issue: | Approx ₹31.10 Crores |
| Issue Type: | Book Built Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Forge Auto International IPO Lot Size:
The minimum market lot for the Forge Auto International IPO consists of 1,200 shares, requiring an application amount of ₹129,600.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1,200 | ₹129,600 |
| Retail Maximum | 1 | 1,200 | ₹129,600 |
| HNI Minimum | 2 | 2,400 | ₹259,200 |
Forge Auto International IPO Timeline:
The Forge Auto International IPO is set to open on September 26 and will close on September 30. Allotment results will be finalized on October 1, with the IPO expected to list on October 4.
| 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 |
Forge Auto International IPO GMP Today:
GMP for Forge Auto International SME IPO has not started yet. We are updating the GMP information on a daily basis. Please visit us again soon for the latest GMP updates.
Promoters of Forge Auto International IPO
The company is led by promoters Mr. Parmod Gupta and Mr. Rajan Mittal.
About Forge Auto International IPO
Forge Auto International Limited is based in Village Mangarh, Kohara Machhiwara Road, Ludhiana, Punjab, India, 141001. The company specializes in the manufacturing of complex, safety-critical forged and precision-machined components, including both large and small rings, substantial ball studs, gear blanks with broaching, and stub axle assembly flange yokes. Their products serve various sectors, primarily the automotive industry, including automobiles, tractors, and railways, as well as non-automotive sectors like agriculture, hydraulic components, and striking tools.
Customer satisfaction is at the heart of the company’s mission, driving them to manufacture precision machined components tailored to specific client requirements across industries such as tractors, agriculture, railways, automobiles, commercial vehicles, and more. The company has seen significant growth, with revenue from the sale of machined and forged products increasing from ₹109.52 crore in Fiscal 2021 to ₹176.65 crore in Fiscal 2023, reflecting a compound annual growth rate (CAGR) of 27%. This growth underscores their commitment to enhancing product offerings.
With a strategic focus on providing quality products and services, Forge Auto International is dedicated to developing customer-centric innovations and advanced process technologies. Their commitment to client satisfaction has also allowed them to expand their customer base geographically and across diverse industry sectors. The company’s EBITDA margins have shown steady improvement, with figures of 7.01%, 6.28%, and 5.56% in Fiscal 2023, 2022, and 2021, respectively.
Forge Auto International IPO Company Financial Report
The company reported revenue of ₹177.64 crores in 2023 against ₹134.00 crore in 2022. The company reported profit of ₹4.96 crores in 2023 against profit of ₹2.64 crores in 2022.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹109.75 | ₹107.52 | ₹1.61 | ₹53.07 |
| 2022 | ₹134.00 | ₹130.26 | ₹2.64 | ₹56.78 |
| 2023 | ₹177.64 | ₹170.71 | ₹4.96 | ₹82.74 |
| Dec 2023 | ₹135.41 | ₹130.04 | ₹3.62 | ₹91.27 |
Forge Auto International IPO Valuation – FY2024
Check Forge Auto International IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 32.78% |
| ROCE: | 24.82% |
| EBITDA Margin: | 7.01% |
| PAT Margin: | 2.79% |
| Debt to equity ratio: | 1.92 |
| Earning Per Share (EPS): | ₹12.41 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 29.89% |
| Net Asset Value (NAV): | ₹41.51 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Balu Forge Industries Ltd | 9.80 | 33.71 | 16.94 | 53.90 | 559.86 Cr. |
| MM Forging Limited | 55.84 | 21.65 | 16.92 | 326.87 | 1,547.12 Cr. |
| Happy Forging Limited | 26.78 | 45.47 | 15.07 | 171.17 | 1,358.24 Cr. |
| Samrat Forgings Ltd | 5.95 | 53.80 | 9.42 | 63.15 | 162.03 Cr. |
Forge Auto International IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
IPO Lead Managers aka Merchant Bankers
- Hem Securities Limited
Company Address
Forge Auto International IPO Limited
Village Mangarh,
KoharaMachhiwara Road
Ludhiana,-, 141001
Phone: +91- 8999999195
Email: sm@aint.in
Website: http://www.failtd.com/
Forge Auto International IPO FAQs
1. What are the opening and closing dates for the Forge Auto International IPO?
The Forge Auto International IPO will open on September 26, 2024, and close on September 30, 2024.
2. What is the price band for the IPO?
The price band for the Forge Auto International IPO is set between ₹102 and ₹108 per share.
3. What is the minimum investment required?
The minimum market lot for the Forge Auto International IPO is 1,200 shares, requiring an application amount of ₹129,600.
4. When will the allotment results be announced?
Allotment results for the Forge Auto International IPO will be finalized on October 1, 2024.
5. When is the expected listing date?
The shares of Forge Auto International are expected to be listed on the NSE on October 4, 2024.
6. Who are the promoters of Forge Auto International?
The company is promoted by Mr. Parmod Gupta and Mr. Rajan Mittal.
7. What sectors does Forge Auto International cater to?
Forge Auto International manufactures components for various sectors, including the automotive industry (automobiles, tractors, railways) and non-automotive sectors (agriculture, hydraulic components, striking tools).
8. What has been the company’s revenue growth?
The company’s revenue from machined and forged products increased from ₹109.52 crore in Fiscal 2021 to ₹176.65 crore in Fiscal 2023, reflecting a CAGR of 27%.
9. What is the company’s approach to customer satisfaction?
The company prioritizes customer satisfaction by producing precision machined components tailored to specific client needs and continually innovating to enhance their product offerings.
10. How has the company performed financially?
The company’s EBITDA margins have improved over the past three years, with margins of 7.01% in Fiscal 2023, 6.28% in Fiscal 2022, and 5.56% in Fiscal 2021.
