Bookbuilding IPO | ₹31 Cr | Listed at NSE SME | Thu, Sep 26, 2024 - Mon, Sep 30, 2024
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 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,29,600 (1200 shares) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Sep 26, 2024
IPO Close
Mon, Sep 30, 2024
Issue Price
₹108 per share
Market Cap (Pre-IPO)
₹117.94 Cr
| IPO Date | 26 to 30 Sep, 2024 |
| Listed on | Fri, Oct 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹102 to ₹108 |
| Issue Price | ₹108 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 28,80,000 shares (agg. up to ₹31 Cr) |
| Reserved for Market Maker | 1,46,400 shares Hem Finlease Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 27,33,600 shares (agg. up to ₹30 Cr) |
| Net Offered to Public | 27,33,600 shares (agg. up to ₹30 Cr) |
| Share Holding Pre Issue | 80,40,000 shares |
| Share Holding Post Issue | 1,09,20,000 shares |
| NSE Symbol | FORGEAUTO |
| ISIN | INE0YKW01013 |
Forge Auto International IPO comprises a total issue size of 28,80,000 shares. The net offer to the public is 27,33,600 shares, after excluding 1,46,400 shares allotted on a firm basis. Of the Net offer 13,65,600 (49.96%) are allocated to QIB, 4,10,400 (15.01%) allocated to NII 9,57,600 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,65,600 | 49.96% | 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 | 15.01% | 14.25% |
| Retail Shares Offered | 9,57,600 | 35.03% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,46,400 | 5.08% | |
| Total Shares Offered | 28,80,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
Forge Auto International IPO raises ₹8.84 crore from anchor investors. Forge Auto International IPO Anchor bid date is September 25, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 25, 2024 |
| Shares Offered | 8,18,400 |
| Anchor Portion (₹ Cr.) | 8.84 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Oct 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 30, 2024 |
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 101.49 | 82.74 | 56.78 |
| Total Income | 181.57 | 177.64 | 134.00 |
| Profit After Tax | 6.69 | 4.96 | 2.64 |
| NET Worth | 20.21 | 16.60 | 13.68 |
| Reserves and Surplus | 12.77 | ||
| Total Borrowing | 40.46 | 31.83 | 26.20 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Working Capital requirements | 19.00 |
| 2 | Repayment of certain borrowing availed by our Company, in part or full | 5.00 |
| 3 | General Corporate Purpose | 4.29 |
| KPI | Mar 31, 2024 |
|---|---|
| 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 (₹) | 8.32 | 6.13 |
| P/E (x) | 12.98 | 17.63 |
| Promoter Holding | 100% | 73.63% |
| Market Cap | ₹117.94 Cr. |
The Forge Auto International IPO is subscribed 49.28 times on September 30, 2024 6:19:59 PM (Day 3). The public issue subscribed 61.95 times in the retail category, 20.13 times in the QIB category, and 58.55 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 20.13 | 5,47,200 | 1,10,13,600 |
| NII* | 58.55 | 4,10,400 | 2,40,30,000 |
| Retail | 61.95 | 9,57,600 | 5,93,28,000 |
| Total | 49.28 | 19,15,200 | 9,43,71,600 |
Total Application : 49,440
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including underwriting commission | 0.57 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.16 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.07 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Statutory Auditor, Legal Advisors and other Professionals | 0.04 |
| 7 | Others, if any (Fees payable for Marketing & distribution expenses, Uploading fees to Sponsor Bank/Banker(s) to the Issue, Selling Commission, Brokerage, Processing Fees*, and Miscellaneous Expenses) | 1.95 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹108.00 |
| Open | ₹113.00 |
| Low | ₹107.35 |
| High | ₹115.00 |
| Last Trade | ₹109.35 |
Lead Manager Reports
Forge Auto International IPO is a SME IPO of 28,80,000 equity shares of the face value of ₹10 aggregating up to ₹31 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Sep 26, 2024, and closes on Mon, Sep 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 Thu, Sep 26, 2024 and closes on Mon, Sep 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 Thu, Oct 3, 2024. Check the Forge Auto International IPO allotment status.
The Forge Auto International IPO listing date is on Fri, Oct 4, 2024.
