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Forge Auto International IPO is a book build issue of ₹31.10 crores. The issue is entirely a fresh issue of 0.29 crore shares of ₹31.10 crore.
Forge Auto International IPO bidding started from Sep 26, 2024 and ended on Sep 30, 2024. The allotment for Forge Auto International IPO was finalized on Oct 1, 2024. The shares got listed on NSE SME on Oct 4, 2024.
Forge Auto International IPO price band is set at ₹108.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,22,400 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,59,200.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Hem Finlease Pvt.Ltd..
Refer to Forge Auto International IPO RHP for detailed Information.
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | October 4, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹102 to ₹108 per share |
| Issue Price Final | ₹108 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 28,80,000 shares (aggregating up to ₹31.10 Cr) |
| Reserved for Market Maker | 1,46,400 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹1.58 Cr) |
| Net Offered to Public | 27,33,600 shares (aggregating up to ₹29.52 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 80,40,000 shares |
| Share Holding Post Issue | 1,09,20,000 shares |
Forge Auto International IPO offers total 28,80,000 shares. Out of which 13,65,600 (47.42%) allocated to QIB, 5,47,200 (19.00%) allocated to QIB, 4,10,400 (14.25%) allocated to NII, 9,57,600 (33.25%) allocated to RII and 8,18,400 (28.42%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,46,400 (5.08%) |
| QIB Shares Offered | 13,65,600 (47.42%) |
| − Anchor Investor Shares Offered | 8,18,400 (28.42%) |
| − QIB (Ex. Anchor) Shares Offered | 5,47,200 (19.00%) |
| NII (HNI) Shares Offered | 4,10,400 (14.25%) |
| Retail Shares Offered | 9,57,600 (33.25%) |
| Total Shares Offered | 28,80,000 (100.00%) |
Forge Auto International IPO raises ₹8.84 crore from anchor investors. Forge Auto International IPO Anchor bid date is September 25, 2024. Forge Auto International IPO Anchor Investors list
| Bid Date | September 25, 2024 |
| Shares Offered | 8,18,400 |
| Anchor Portion Size (In Cr.) | 8.84 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 30, 2024 |
Forge Auto International IPO opens on September 26, 2024, and closes on September 30, 2024.
| IPO Open Date | Thu, Sep 26, 2024 |
| IPO Close Date | Mon, Sep 30, 2024 |
| Tentative Allotment | Tue, Oct 1, 2024 |
| Initiation of Refunds | Thu, Oct 3, 2024 |
| Credit of Shares to Demat | Thu, Oct 3, 2024 |
| Tentative Listing Date | Fri, Oct 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 30, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,29,600 |
| Retail (Max) | 1 | 1,200 | ₹1,29,600 |
| HNI (Min) | 2 | 2,400 | ₹2,59,200 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2001, Forge Auto International Limited is an engineering company that forges and manufactures complex, safety-critical, forged, and precision-machined components for the auto industry (automobiles, tractors, railways) and non-auto sectors (agriculture parts, hydraulic parts, striking tools).
The company serves its customers, including domestic and global original equipment manufacturers ("OEMs") engaged in manufacturing for both the automotive and non-automotive sectors. Its products are used across various industries by a diverse customer base.
The company's revenue from the sale of machined and forging products increased from ?10951.99 lakhs in Fiscal 2021 to Rs 17664.85 lakhs in Fiscal 2023, reflecting a 27% CAGR, demonstrating its heightened focus on its products.
The company manufactures short and long forks, flange yokes, ball studs, gear blanks, and stub axle assemblies for commercial vehicles, railway bogies, tractors, agricultural equipment, and sledgehammers.
The company is certified with the following standards: ISO 9001:2015 for quality management systems, ISO 14001:2015 for environmental management systems, OHSAS 18001:2007 for occupational health and safety management systems, IATF 16949:2016 for doing business with OEMs manufacturing components in the automotive industry, and ZED GOLD by the Government of India for sustainability with Zero Effect and Zero Defect.
Competitive Strength
As of March 31, 2024, the company has an in-house sales and marketing team of 14 employees.
As of March 31, 2024, the company has 366 permanent employees in various departments.
Forge Auto International Limited's revenue increased by 2% and profit after tax (PAT) rose by 35% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 10,148.67 | 8,274.29 | 5,677.94 |
| Total Income | 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 | |||
The market capitalization of Forge Auto International IPO is ₹117.94 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 35.76% |
| ROCE | 17.60% |
| Debt/Equity | 1.94 |
| RoNW | 32.14% |
| PAT Margin | 3.71% |
| Price to Book Value | 4.17 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 8.32 | 6.13 |
| P/E (x) | 12.98 | 17.63 |
The Net Proceeds are proposed to be used in accordance with the details as set forth below:
[Dilip Davda] 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 long term. Read detail review...
| Listing Date | October 4, 2024 |
| BSE Script Code | |
| NSE Symbol | FORGEAUTO |
| ISIN | INE0YKW01013 |
| Final Issue Price | ₹108 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹108.00 |
| Open | ₹113.00 |
| Low | ₹107.35 |
| High | ₹115.00 |
| Last Trade | ₹109.35 |
Forge Auto International Ltd.
Village Mangarh,
Kohara
Machhiwara Road
Ludhiana, Punjab, 141001
Phone: +91- 8999999195
Email: sm@aint.in
Website: http://www.failtd.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Forge Auto International IPO is a SME IPO of 28,80,000 equity shares of the face value of ₹10 aggregating up to ₹31.10 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 1200.
The IPO opens on September 26, 2024, and closes on September 30, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Forge Auto International IPO using UPI as a payment gateway. Zerodha customers can apply in Forge Auto International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Forge Auto International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Forge Auto International IPO opens on September 26, 2024 and closes on September 30, 2024.
Forge Auto International IPO lot size is 1200, and the minimum amount required for application is ₹1,29,600.
You can apply in Forge Auto International IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Forge Auto International IPO will be done on Tuesday, October 1, 2024, and the allotted shares will be credited to your demat account by Thursday, October 3, 2024. Check the Forge Auto International IPO allotment status.
The Forge Auto International IPO listing date is on Friday, October 4, 2024.
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