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Forge Auto International Limited IPO, GMP, Details, Price, And Review
Forge Auto International Limited, it’s an engineering company. It is engaged in forging and manufacturing of complex and safety-critical, forged and precision machined components like the small rings, big rings, gear blank with the broach, big ball studs, flange yoke 325 HS, and stub axle assembly, thereby catering to the needs of varied industry sectors like,
The company is primarily focused on serving its domestic customers as well as the global original equipment manufacturers (“OEMs”) who remain engaged in manufacturing for the automotive sector and the nonautomotive sector, the results of which are used across varied industries and diversified customer bases.
- ● Issue Size: ₹31.10 crores
- ● Issue Type: Fresh issue of 28.8 lakh shares
- ● Price Band: ₹102 to ₹108 per share
- ● Minimum Lot Size: 1200 shares
- ● Subscription Period:
- ○ Opening Date September 26, 2024
- ○ Closing Date: September 30, 2024
- ● Book Running Lead Manager: Hem Securities Limited
- ● Registrar: Bigshare Services Pvt Ltd
- ● Market Maker: Hem Finlease
Forge Auto International IPO Overview
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Forge Auto International Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 04-10-2024 | 108 | 15 (13.89%) | 04-Oct-2024 12:25 |
| 03-10-2024 | 108 | 15 (13.89%) | 03-Oct-2024 12:50 |
| 01-10-2024 | 108 | 15 (13.89%) | 01-Oct-2024 12:10 |
| 30-09-2024 | 108 | 25 (23.15%) | 30-Sep-2024 12:20 |
| 28-09-2024 | 108 | 25 (23.15%) | 28-Sep-2024 12:10 |
| 27-09-2024 | 108 | 36 (33.33%) | 27-Sep-2024 12:20 |
| 26-09-2024 | 108 | 30 (27.78%) | 26-Sep-2024 12:35 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Forge Auto International IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹102 to ₹108 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,880,000 shares (aggregating up to ₹31.10 Cr) |
| Fresh Issue | 2,880,000 shares (aggregating up to ₹31.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 8,040,000 |
| Shareholding post issue | 10,920,000 |
| Market Maker portion | 146,400 shares Hem Finlease |
Forge Auto International IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, September 26, 2024 |
| IPO Close Date | Monday, September 30, 2024 |
| Basis of Allotment | Tuesday, October 1, 2024 |
| Initiation of Refunds | Thursday, October 3, 2024 |
| Credit of Shares to Demat | Thursday, October 3, 2024 |
| Listing Date | Friday, October 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 30, 2024 |
Forge Auto International Limited IPO 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 Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Forge Auto International IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.63% |
Company & Financials
Forge Auto International Limited was incorporated in the year 2001. As an engineering company, the company have been forging and manufacturing some safety-critical, complex, precision-machined, and forged components for the auto industry and the non-auto sectors.
Forge Auto International Limited serves customers, including global and domestic original equipment manufacturers (OEMs) engaged in producing for the non-automotive and automotive sectors. The company's products are used by a diverse customer base from varied industries.
- As part of its manufacturing line, the below-mentioned are manufactured by the company,
- ● Short and Long Forks
- ● Flange Yokes
- ● Ball Studs
- ● Gear Blanks, and
- ● Stub Axle Assemblies
These manufactured products are then used in commercial vehicles, tractors, railway bogies, agricultural equipment, and sledgehammers.
- Furthermore, the company has been certified with standards including,
- ● ISO 9001:2015 for the quality management systems
- ● ISO 14001:2015 for environmental management systems
- ● OHSAS 18001:2007 for occupational health as well as safety management systems
- ● IATF 16949:2016 for doing business with varied automotive industry OEMs manufacturing components
- ● ZED GOLD by the Government of India for sustainability with Zero Defect and Zero Effects.
-
Competitive Strength:
- ● The company's manufacturing facility has an installed capacity of 20,000MT for forging and 25 lakh units for the machining section.
- ● The company's long-standing relationship with its customers is maintained through a commitment to quality, prompt payments, timely delivery, and adaptability.
- ● Obtained Government of India certifications for sustainability with zero effect and zero defects for the manufacturing facility.
Forge Auto International Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 10,148.67 | 8,274.29 | 5,677.94 | |||||||||||||||||||||||||||||||||||||
| Revenue | 18,157.3 | 17,764.43 | 13,400.28 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | 668.88 | 496.29 | 264.34 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 2,020.88 | 1,660.35 | 1,367.73 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,276.88 | |||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 4,046 | 3,183.2 | 2,620.16 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 35.76% |
| ROCE | 17.60% |
| Debt/Equity | 1.94 |
| RoNW | 32.14% |
| P/BV | 4.17 |
| PAT Margin (%) | 3.71 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.32 | 6.13 |
| P/E (x) | 12.98 | 17.63 |
Objectives of Forge Auto International IPO
The Net Proceeds from the issue of the shares have been proposed to be used for:
Forge Auto International IPO Review
The company is in the business of manufacturing complex and safety-critical, forged and precision machined components for auto, agri and other sectors. It posted steady growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears fully priced. Investors may park moderate funds for the long term.
FAQs for Forge Auto International IPO
-
Which IPO is being launched by Forge Auto International?
The company is launching an SME IPO that will be listed on the NSE. It is expected to raise ₹31.10 Crores through the issue that’s priced at ₹102 to ₹108 per equity share.
-
When does the subscription for Forge Auto International IPO open?
The subscription for the QIB, NII, and Retail Investors opens on September 26, 2024, and closes on September 30, 2024.
-
What is Forge Auto International IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is the issue size of Forge Auto International IPO?
₹31.10 crores is Forge Auto International IPO issue size.
-
What is the Price Band for Forge Auto International IPO?
₹102 to ₹108 is the Price Band for Forge Auto International IPO.
-
What is the lot size of Forge Auto International IPO?
1200 Shares with ₹129,600 amount is the lot size.
-
What is the Allotment date for Forge Auto International IPO?
October 1, 2024, is the allotment date for Forge Auto International IPO.
-
What is the listing date for the Forge Auto International IPO?
October 4, 2024, is the listing date for Forge Auto International IPO. The IPO will be listed on the NSE.
-
What is Forge Auto International current GMP?
The current GMP of Forge Auto International is 15 (13.89%).
RHP:
RHP of Forge Auto International Limited IPO
DRHP:
DRHP of Forge Auto International Limited IPO
-
Which IPO is being launched by Forge Auto International?
The company is launching an SME IPO that will be listed on the NSE. It is expected to raise ₹31.10 Crores through the issue that’s priced at ₹102 to ₹108 per equity share.
-
When does the subscription for Forge Auto International IPO open?
The subscription for the QIB, NII, and Retail Investors opens on September 26, 2024, and closes on September 30, 2024.
-
What is Forge Auto International IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is the issue size of Forge Auto International IPO?
₹31.10 crores is Forge Auto International IPO issue size.
-
What is the Price Band for Forge Auto International IPO?
₹102 to ₹108 is the Price Band for Forge Auto International IPO.
-
What is the lot size of Forge Auto International IPO?
1200 Shares with ₹129,600 amount is the lot size.
-
What is the Allotment date for Forge Auto International IPO?
October 1, 2024, is the allotment date for Forge Auto International IPO.
-
What is the listing date for the Forge Auto International IPO?
October 4, 2024, is the listing date for Forge Auto International IPO. The IPO will be listed on the NSE.
-
What is Forge Auto International current GMP?
The current GMP of Forge Auto International is 15 (13.89%).
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