Forge Auto International Ltd. was incorporated on April 25, 2023. The company specializes in forging and manufacturing complex, safety-critical components, such as rings, ball studs, and gear blanks. It serves various industries, including automotive and agriculture, catering to both domestic and global OEMs.
| Bidding Dates |
|---|
| 26 Sep 2024 - 30 Sep 2024 |
| Subscription |
|---|
| 45.85x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,22,400 | 1 | 1 | 1200 | 2.9 M | ₹102 - ₹108 | 73.63 % | ₹293.8 M - ₹311.0 M | RHP DOC |
Forge Auto International Ltd. IPO SUBSCRIPTION STATUS
30 Sep '24Forge Auto International Ltd. IPO overall subscription rate was 45.85 times the total available shares
Forge Auto International Ltd. IPO retail subscription rate was 82.22 times in the retail segment
Forge Auto International Ltd. IPO non-institutional investor subscription rate was 78.18 times in the non-institutional investor category
Forge Auto International Ltd. IPO Qualified Institutional Bidder subscription rate was 10.68 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
30 Sep 2024 (Day 3) | 82.22x | 78.18x | 10.68x |
27 Sep 2024 (Day 2) | 19.17x | 8.01x | 3.93x |
26 Sep 2024 (Day 1) | 5.75x | 3.08x | 3.48x |
Forge Auto International Ltd. 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 |
| FY24 | 66.9 | 1,801.2 | 84.8 | 45.1 | 7.6% |
| FY23 | 49.6 | 1,766.5 | 43.4 | -4.4 | 6.4% |
| FY22 | 26.4 | 1,328.8 | 28.6 | -23.9 | 5.4% |
Forge Auto International Ltd. IPO SUBSCRIPTION STATUS DETAILS
Forge Auto International Ltd. had 2.9 M shares on offer
Forge Auto International Ltd. IPO offer price was in the range ₹102 - ₹108
Forge Auto International Ltd. IPO minimum Investment was ₹122400
Forge Auto International Ltd. IPO issue size was ₹ 293.8 M - ₹ 311.0 M
Forge Auto International Ltd. had a minimum lot size of 1200 Shares per application
Forge Auto International Ltd. NUMBER OF SHARES ON OFFER
Forge Auto International Ltd. IPO IMPORTANT DATES
| Issue Open Date | 26 Sep 2024 |
| Issue close Date | 30 Sep 2024 |
| Allotment Date | 01 Oct 2024 |
| Refund Date | 03 Oct 2024 |
| Demat Account Credit Date | 03 Oct 2024 |
| Listing Date | 04 Oct 2024 |
| Listing on Exchange(s) | NSE |
| Forge Auto International Ltd. Allotment Status | Exchange |
Forge Auto International Ltd. IPO subscription opened on 26 Sep 2024, and closed on 30 Sep 2024
IPO allotment for Forge Auto International Ltd. was finalized on Tuesday, 01 Oct 2024
IPO listing for Forge Auto International Ltd. was on NSE on Friday, 04 Oct 2024
Forge Auto International Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 108.0 |
| Listing Open Price | 113.0 |
| Listing Close Price | 109.3 |
| Listing Gain% | 4.6% |
| Current Gain% | 7.5% |
Forge Auto International Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Forge Auto International Ltd. | 116.2 | 126.8 | 10.3 | 0.5 | 17.7 | 6.3 | 271.9 | 12.3 | 11.3 | ||||
| Solar Industries India Ltd. | 18650 | 168764 | 100.6 | 2.6 | 17.2 | 26.7 | 15.4 | 9965.7 | 30.9 | 1677.6 | 38.7 | 185.4 | 38.7 |
| PTC Industries Ltd. | 19076 | 28599.7 | 281.6 | 4.2 | 47.4 | 6.7 | 5.2 | 643.3 | 88 | 101.6 | 66.4 | 67.7 | 66.4 |
| Inox India Ltd. | 1954.7 | 17741.5 | 69.6 | 8 | 11 | 23.1 | 12.8 | 1632.3 | 21.2 | 257.9 | 14.1 | 28.1 | 8.7 |
| Precision Wires India Ltd. | 413.8 | 7564.6 | 48.7 | 0.7 | 1.4 | 20.1 | 6.9 | 5463.4 | 35.4 | 155.3 | 72.4 | 8.5 | 72.4 |
| Kennametal India Ltd. | 3308.6 | 7271.7 | 52.5 | 1.5 | 5.4 | 13.8 | 10.6 | 1184.7 | 6.6 | 102.9 | -6.9 | 63 | 35.9 |
Forge Auto International Ltd. INFORMATION ON IPO ISSUE
About Forge Auto International Ltd.
Forge Auto International Ltd. was incorporated on April 25, 2023. The company specializes in forging and manufacturing complex, safety-critical components, such as rings, ball studs, and gear blanks. It serves various industries, including automotive and agriculture, catering to both domestic and global OEMs.
Object of the Issue
- To meet working capital requirements
- Repayment of certain loans availed by the company
- General corporate purposes
Forge Auto International Ltd. - PROMOTERS
| Name |
|---|
| Rajan Mittal |
| Parmod Gupta |
Forge Auto International Ltd. Lead Manager of the Issue
HEM SECURITIES LIMITED
ib@hemsecurities.com
Forge Auto International Ltd. Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Forge Auto International Ltd. Strengths
Integrated manufacturing operations
In its early years, the company focused on tractor parts, later expanding to heavy and light vehicle parts and agricultural and railway components. In 2021, it added hydraulic components and industrial goods to meet rising demand both in India and abroad
Quality assurance and standards
The company believes quality is essential for a positive consumer experience and long-term customer loyalty. This commitment to quality has been the foundation for expanding and diversifying its product portfolio since its inception
Forge Auto International Ltd. Risks
Dependent on limited customers
The company relies on a small number of customers for its revenue, so losing any of them could significantly harm its business operations and financial stability
Absence of formal agreements/ commitments
The company has no binding agreements with customers for purchases or pricing. If customers choose competitors, it could negatively impact the business
Dependent on a few suppliers
The company relies on a few suppliers for steel and has no formal agreements with them. Any supply issues or price increases could negatively impact the business
IPO FAQs
The promoters of the company are Rajan Mittal and Parmod Gupta.
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 102.0 - 108.0.
The IPO application opens on Sep 26, 2024 and closes on Sep 30, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 122,400.0, the maximum value for this IPO is Rs 129,600.0.
This IPO will be allotted on Oct 01, 2024.
The refund will be credited to your account on Oct 03, 2024.
The allotted shares will be credited to your demat on Oct 03, 2024.
Forge Auto International Ltd.’s shares listed on the stock exchanges on Oct 04, 2024.