Metalic Technoforge was incorporated on October 04, 2016. The company manufactures closed die forged and precision-machined components, including safety-critical products for automotive and industrial applications. It supplies a diverse range of components to domestic and global OEMs across sectors such as automobiles, tractors, construction equipment, agriculture, and general engineering
| Bidding Dates |
|---|
| 21 Jul 2026 - 23 Jul 2026 |
| Subscription |
|---|
| 7.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,30,400 | 2 | 2 | 1600 | 6.5 M | ₹72 - ₹77 | 61 % | ₹467.1 M - ₹499.6 M | RHP DOC |
Metalic Technoforge IPO SUBSCRIPTION STATUS
23 Jul '26Metalic Technoforge IPO overall subscription rate was 7.95 times the total available shares
Metalic Technoforge IPO retail subscription rate was 9.29 times in the retail segment
Metalic Technoforge IPO non-institutional investor subscription rate was 23.19 times in the non-institutional investor category
Metalic Technoforge IPO Qualified Institutional Bidder subscription rate was 2.43 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Jul 2026 (Day 3) | 9.29x | 23.19x | 2.43x |
22 Jul 2026 (Day 2) | 1.52x | 1.31x | 0.25x |
21 Jul 2026 (Day 1) | 0.78x | 0.39x | - |
Metalic Technoforge FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 95.5 | 12.4 | -1.0 | -4.5 | 23.0% |
| FY25 | 74.4 | 9.0 | 1.9 | -13.5 | 21.6% |
| FY24 | 50.9 | 4.3 | 2.0 | -3.7 | 14.3% |
Metalic Technoforge IPO SUBSCRIPTION STATUS DETAILS
Metalic Technoforge had 6.5 M shares on offer
Metalic Technoforge IPO offer price was in the range ₹72 - ₹77
Metalic Technoforge IPO minimum Investment was ₹230400
Metalic Technoforge IPO issue size was ₹ 467.1 M - ₹ 499.6 M
Metalic Technoforge had a minimum lot size of 1600 Shares per application
Metalic Technoforge NUMBER OF SHARES ON OFFER
Metalic Technoforge IPO IMPORTANT DATES
| Issue Open Date | 21 Jul 2026 |
| Issue close Date | 23 Jul 2026 |
| Allotment Date | 24 Jul 2026 |
| Refund Date | 27 Jul 2026 |
| Demat Account Credit Date | 27 Jul 2026 |
| Listing Date | 28 Jul 2026 |
| Listing on Exchange(s) | NSE |
| Metalic Technoforge Allotment Status | Exchange/ Registrar |
Metalic Technoforge IPO subscription opened on 21 Jul 2026, and closed on 23 Jul 2026
IPO allotment for Metalic Technoforge was finalized on Friday, 24 Jul 2026
IPO listing for Metalic Technoforge was on NSE on Tuesday, 28 Jul 2026
Metalic Technoforge IPO LISTING GAINS
| Issue Price (adjusted) | 77.0 |
| Listing Open Price | 87.0 |
| Listing Close Price | 83.0 |
| Listing Gain% | 13.0% |
| Current Gain% | 43.3% |
Metalic Technoforge 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Metalic Technoforge Ltd. | 110.4 | 264.7 | 21.4 | 0.6 | 2.7 | 37 | 13.4 | 98 | 29.5 | 12.4 | 37 | 5.2 | 37 |
| 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 |
Metalic Technoforge INFORMATION ON IPO ISSUE
About Metalic Technoforge
Metalic Technoforge was incorporated on October 04, 2016. The company manufactures closed die forged and precision-machined components, including safety-critical products for automotive and industrial applications. It supplies a diverse range of components to domestic and global OEMs across sectors such as automobiles, tractors, construction equipment, agriculture, and general engineering
Object of the Issue
- Funding of capital expenditure requirements of the company towards setting up of the proposed manufacturing unit IV and upgradation of existing units at manufacturing facility in Rajkot, Gujarat
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company
- General corporate purposes
Metalic Technoforge - PROMOTERS
| Name |
|---|
| Gajipara Keyur Dhirajlal |
| Trambadiya Dhaval Vrajlal |
| Vadodariya Satish Rameshbhai |
| Kapadiya Vipul K |
| Gajipara Ronakkumar Mansukhbhai |
| Rupapara Jay Rameshbhai |
| Ekta Satish Vadodariya |
Metalic Technoforge - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Gajipara Keyur Dhirajlal | Chairman & Managing Director |
| Trambadiya Dhaval Vrajlal | Whole Time Director |
| Ekta Satish Vadodariya | Non-Executive Non-Independent Director |
| Mitul Bharatkumar Kalavadia | Non-Executive Independent Director |
| Mayur Ashok Rughani | Non-Executive Independent Director |
Metalic Technoforge Book Running Lead Manager
Smart Horizon Capital Advisors Private Limited
director@shcapl.com
Metalic Technoforge Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Metalic Technoforge Strengths
Diversified product portfolio
The company manufactures forged and precision-machined components for automotive and industrial sectors, including agriculture, construction, hydraulics, commercial vehicles, and general engineering. It also produces customized components for OEMs and continues to expand its product portfolio to serve a wider range of industries
Quality assurance & control
The company follows stringent quality control processes, with testing at multiple manufacturing stages to ensure compliance with customer specifications. Its certified manufacturing facilities and advanced testing capabilities help deliver high-quality products backed by required quality certifications and test reports
Client relationship
The company has built long-term customer relationships through consistent product quality and repeat orders across diverse industrial sectors. It continues to expand its customer base and product offerings, supporting sustained growth in both domestic and export markets
Metalic Technoforge Risks
Operational risks
The company's operations rely heavily on the efficient performance of its manufacturing machinery and technology to ensure product quality and timely deliveries. Any equipment failure, maintenance delays, or inability to adopt new technologies could disrupt production, increase costs, and adversely affect its business and financial performance
Depend on third-party vendors
The company relies on third-party vendors, job workers, and testing laboratories for certain manufacturing and quality control processes without long-term agreements. Any disruption, delays, or quality issues from these service providers could affect production schedules, customer deliveries, and financial performance
Liability risks
The company is exposed to product liability risks, including defects, customer claims, product rejections, and replacement obligations. Any significant quality issues could lead to financial losses, legal disputes, reputational damage, and loss of future business
IPO FAQs
The promoters of the company are Gajipara Keyur Dhirajlal, Trambadiya Dhaval Vrajlal, Vadodariya Satish Rameshbhai, Kapadiya Vipul K, Gajipara Ronakkumar Mansukhbhai, Rupapara Jay Rameshbhai and Ekta Satish Vadodariya.
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 72.0 - 77.0.
The IPO application opens on Jul 21, 2026 and closes on Jul 23, 2026.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 230,400.0, the maximum value for this IPO is Rs 246,400.0.
This IPO will be allotted on Jul 24, 2026.
The refund will be credited to your account on Jul 27, 2026.
The allotted shares will be credited to your demat on Jul 27, 2026.
Metalic Technoforge Ltd.’s shares listed on the stock exchanges on Jul 28, 2026.