AMIC Forging was incorporated on June 19, 2007. The company is a manufacturer in the forging industry, engaged in the production of forged components catering to various industries. It specialises in manufacturing precision-machined components according to customer specifications and international standards. These components serve the needs of various industries, including heavy engineering, the steel industry, oil & gas, petrochemicals, chemicals, refineries, thermal power, nuclear power, hydropower, the cement industry, the sugar industry, and other related sectors
| Bidding Dates |
|---|
| 29 Nov 2023 - 01 Dec 2023 |
| Subscription |
|---|
| 268.79x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,21,000 | 1 | 1 | 1000 | 2.8 M | ₹121 - ₹126 | 73.67 % | ₹334.2 M - ₹348.0 M | RHP DOC |
AMIC Forging IPO SUBSCRIPTION STATUS
01 Dec '23AMIC Forging IPO overall subscription rate was 268.79 times the total available shares
AMIC Forging IPO retail subscription rate was 273.01 times in the retail segment
AMIC Forging IPO non-institutional investor subscription rate was 435.86 times in the non-institutional investor category
AMIC Forging IPO Qualified Institutional Bidder subscription rate was 91.43 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
01 Dec 2023 (Day 3) | 273.01x | 435.86x | 91.43x |
30 Nov 2023 (Day 2) | 35.09x | 15.71x | 7.43x |
29 Nov 2023 (Day 1) | 6.63x | 2.97x | 3.53x |
AMIC Forging FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 36.0 | 295.5 | -1.0 | -25.1 | 16.8% |
| FY23 | 98.0 | 1158.5 | 177.8 | 146.7 | 11.7% |
| FY22 | 8.7 | 711.2 | 58.5 | 40.3 | 3.1% |
| FY21 | 5.6 | 264.1 | -21.2 | -23.9 | 5.7% |
AMIC Forging IPO SUBSCRIPTION STATUS DETAILS
AMIC Forging had 2.8 M shares on offer
AMIC Forging IPO offer price was in the range ₹121 - ₹126
AMIC Forging IPO minimum Investment was ₹121000
AMIC Forging IPO issue size was ₹ 334.2 M - ₹ 348.0 M
AMIC Forging had a minimum lot size of 1000 Shares per application
AMIC Forging NUMBER OF SHARES ON OFFER
AMIC Forging IPO IMPORTANT DATES
| Issue Open Date | 29 Nov 2023 |
| Issue close Date | 01 Dec 2023 |
| Allotment Date | 04 Dec 2023 |
| Refund Date | 05 Dec 2023 |
| Demat Account Credit Date | 05 Dec 2023 |
| Listing Date | 06 Dec 2023 |
| Listing on Exchange(s) | BSE |
| AMIC Forging Allotment Status | Exchange |
AMIC Forging IPO subscription opened on 29 Nov 2023, and closed on 01 Dec 2023
IPO allotment for AMIC Forging was finalized on Monday, 04 Dec 2023
IPO listing for AMIC Forging was on BSE on Wednesday, 06 Dec 2023
AMIC Forging IPO LISTING GAINS
| Issue Price (adjusted) | 126.0 |
| Listing Open Price | 239.4 |
| Listing Close Price | 251.3 |
| Listing Gain% | 90.0% |
| Current Gain% | 1439.1% |
AMIC Forging Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AMIC Forging Ltd. | 1939.2 | 2034 | 71.9 | -3.5 | 14.2 | 13.3 | 11.1 | 142.8 | 0.6 | 28.3 | -20.5 | 27 | -20.5 |
| Bharat Forge Ltd. | 2265.2 | 108296.6 | 97.7 | 5.5 | 6.4 | 11.3 | 4.8 | 17010.3 | 10.9 | 1079.7 | 14.7 | 23.2 | 17.7 |
| AIA Engineering Ltd. | 4776 | 44569.8 | 35.1 | 1.8 | 10.1 | 15.8 | 14.9 | 4893.9 | 6 | 1270.2 | 19.7 | 136.1 | 19.7 |
| Indo-MIM Ltd. | 867.4 | 42888.8 | 18.9 | 10.9 | 4320.7 | 28.1 | 533.5 | 25.9 | |||||
| Happy Forgings Ltd. | 1906.2 | 17990.5 | 54.9 | 2.5 | 11 | 14.2 | 11.4 | 1577.1 | 9 | 301.6 | 12.8 | 34.7 | 21.6 |
| Ramkrishna Forgings Ltd. | 726.6 | 13138.1 | 122.9 | -1.6 | 3 | 2.2 | 1 | 4251.2 | 4.7 | 71.8 | -82.7 | 5.9 | -78.7 |
AMIC Forging INFORMATION ON IPO ISSUE
About AMIC Forging
AMIC Forging was incorporated on June 19, 2007. The company is a manufacturer in the forging industry, engaged in the production of forged components catering to various industries. It specialises in manufacturing precision-machined components according to customer specifications and international standards. These components serve the needs of various industries, including heavy engineering, the steel industry, oil & gas, petrochemicals, chemicals, refineries, thermal power, nuclear power, hydropower, the cement industry, the sugar industry, and other related sectors
Object of the Issue
- Setting up of manufacturing facility
- Working capital requirements
- General corporate purposes
AMIC Forging - PROMOTERS
| Name |
|---|
| Girdhari Lal Chamaria |
| Rashmi Chamaria |
| Anshul Chamaria |
| Manju Chamaria |
AMIC Forging Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
AMIC Forging Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
AMIC Forging Strengths
Integrated manufacturing facility
The company continuously strives to maintain the necessary infrastructure and technological upgrades essential for the smooth operation of the manufacturing process and to keep pace with the changing market demand situation
Long-standing relation
The company has successfully built trust and established long-term relationships with its major customers
Quality assurance
The company adheres to the practice of testing its products for the desired quality before dispatch. This includes performing tests such as visual inspection, mechanical tests, insulation resistance tests, operational tests, continuity tests, and temperature & strength tests to ensure quality and safety
AMIC Forging Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, and its directors. Any adverse decision in these proceedings may have a material adverse effect on the business
Capital intensive
The business is capital-intensive, and there has been a significant rise in the estimated working capital requirements for FY24. If the company experiences insufficient cash flows to meet its debt payments and working capital needs, this may adversely affect the operations
Highly competitive industry
The company operates in a highly competitive industry, which may limit its potential for growth
IPO FAQs
The promoters of the company are Girdhari Lal Chamaria, Rashmi Chamaria, Anshul Chamaria and Manju Chamaria.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 121.0 - 126.0.
The IPO application opens on Nov 29, 2023 and closes on Dec 01, 2023.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 121,000.0, the maximum value for this IPO is Rs 126,000.0.
This IPO will be allotted on Dec 04, 2023.
The refund will be credited to your account on Dec 05, 2023.
The allotted shares will be credited to your demat on Dec 05, 2023.
Amic Forging Ltd.’s shares listed on the stock exchanges on Dec 06, 2023.