Forge auto international limited IPO Details: Forge Auto International IPO will open on September 26, 2024, and close on September 30, 2024, with investors having a four-day window to participate. Key details like price band, lot size, and financial health will be disclosed before or during the subscription period.
Forge Auto International Limited Details
Forge Auto International Limited, established in 2001, is a leading engineering company. The company is an engineering firm that specializes in forging and manufacturing complex, safety-critical, precision machined components like big ring, small ring, big ball stud, gear blank with broach, stub axle assembly, and flange yoke 325 HS, catering to various industries like automobiles, tractors, and railways.
Forge auto international limited primary customers are domestic and global OEMs manufacturing for both automotive and non-automotive sectors, used by a diverse base of customers.
Company manufacture precision machined components as per customer specifications and International Standard catering to the requirements of various industry such as tractor, agriculture parts, railways, automobiles, commercial vehicle industry, 5th wheel industry, striking tools, hydraulic parts and castor wheel parts and other related industries.
The company’s revenue from machined and forging product sales increased by 27% from ₹10951.99 lakhs in Fiscal 2021 to ₹17664.85 lakhs in Fiscal 2023, indicating a growing focus on these products.
The company produces various components such as forks, flange yokes, ball studs, gear blanks, and stub axle assemblies for various commercial vehicles, railway bogies, tractors, agricultural equipment, and sledgehammers.
The company’s product range is divided into two categories: automotive sector, which manufactures auto components like tractors and commercial vehicles, and non-automotive sector, which manufactures agricultural, industrial, and striking tools.
The Draft Red Herring Prospectus reveals that the company has a forging capacity of 20000 MTs and a machining capacity of around 25 lakhs units. The manufacturing facility is equipped with various machines such as medium frequency induction heating equipment, CNCs, VMCs, hydraulic surface grinders, HMI screw press, shot blasting machine, electric screw presses, lathe machine, continuous heat treatment furnace, pillar drilling machine, circular saw machine, spectrometer, PMI, ultrasonic washing machine, MPI equipment, rolling machine, 6 drop forge hammers, broaching, laser marking machines, coining presses, testing equipment, standard room, design and engineering, and utility equipment like forklift, EOT crane, transformer, and panels capable of undertaking forging and machining activities.
Forge auto international limited IPO Details
Forge Auto International Limited IPO is a book-built issue of Rs 31.10 crores, featuring a fresh issue of 28.8 lakh shares.
Forge Auto International IPO will open for subscription on September 26, 2024, and close on September 30, 2024. The allotment is expected to be finalized on October 1, 2024, and the tentative listing date is set for October 4, 2024.
Forge Auto International IPO price ranges from ₹102 to ₹108 per share, with a minimum lot size of 1200 shares for retail investors and 2 lots (2,400 shares) for HNI, totaling ₹259,200.
Hem Securities Limited is the book running lead manager for the Forge Auto International limited IPO, Bigshare Services Pvt Ltd is the registrar, and Hem Finlease is the market maker.
For comprehensive details, please refer to Forge Auto International limited IPO RHP.
Forge auto international IPO Details
| Detail | Information |
|---|---|
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | Friday, October 4, 2024 |
| 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 |
| Share Holding (Pre Issue) | 8,040,000 shares |
| Share Holding (Post Issue) | 10,920,000 shares |
| Market Maker Portion | 146,400 shares |
| Market Maker | Hem Finlease |
Forge auto international limited IPO Objective
The Net Proceeds are proposed to be utilized in accordance with the following details:
- To meet Working Capital requirements
- Repayment of certain borrowing availed by our Company, in part or full,
- General Corporate Purpose;
Forge auto international IPO Date
Forge Auto International IPO will open for subscription on September 26, 2024, and close on September 30, 2024.
Here’s a table summarizing the key dates for the Forge Auto International IPO:
| Event | Date |
|---|---|
| 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 |
Forge auto international Price and Lot Size :
Investors have the option to bid for a minimum of 1200 shares and in multiples thereof. The table outlines the minimum and maximum investment amounts and shares by retail investors and HNI in terms of shares.
| Application Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹129,600 |
| Retail (Max) | 1 | 1200 | ₹129,600 |
| HNI (Min) | 2 | 2400 | ₹259,200 |
Forge auto international Limited Financial Information (Restated Consolidated)
Forge Auto International Limited experienced a 2% revenue increase and a 35% rise in profit after tax (PAT) between March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets (₹ Cr) | 10,148.67 | 8,274.29 | 5,677.94 |
| Revenue (₹ Cr) | 18,157.30 | 17,764.43 | 13,400.28 |
| Profit After Tax (₹ Cr) | 668.88 | 496.29 | 264.34 |
| Net Worth (₹ Cr) | 2,020.88 | 1,660.35 | 1,367.73 |
| Reserves and Surplus (₹ Cr) | 1,276.88 | – | – |
| Total Borrowing (₹ Cr) | 4,046.00 | 3,183.20 | 2,620.16 |
Forge auto international key performance indicators
Key Performance Indicators of Forge auto international Company :–
| Key Financial Performance | December 31, 2023 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|
| Revenue from operations (₹ Cr) | 13,456.27 | 17,664.85 | 13,287.85 | 10,951.99 |
| EBITDA (₹ Cr) | 994.01 | 1,238.46 | 834.09 | 609.67 |
| EBITDA Margin (%) | 7.39% | 7.01% | 6.28% | 5.56% |
| PAT (₹ Cr) | 362.22 | 496.29 | 264.34 | 160.56 |
| PAT Margin (%) | 2.68% | 2.79% | 1.97% | 1.46% |
| ROE (%) | 21.09% | 32.78% | 21.53% | 8.17% |
| ROCE (%) | 25.62% | 24.82% | 18.43% | 15.18% |
Forge auto international Ltd IPO Promoter Holding:
The Promoters of our Company are Rajan Mittal and Parmod Gupta.
| Shareholding | Percentage |
|---|---|
| Pre Issue | 100.00% |
| Post Issue | 73.63% |
Forge auto international Contact Details:
Forge Auto International Limited
Village Mangarh,
Kohara Machhiwara Road,
Ludhiana, 141001
Phone: +91-8999999195
Email: sm@aint.in
Website: www.failtd.com
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