Forge Auto International Ltd IPO subscribed 4.5 times on first bidding day. Check GMP and Other details
Forge Auto International Ltd is an engineering company specializing in forging and manufacturing safety-critical, precision-machined components for the auto industry (automobiles, tractors, railways) and non-auto sectors (agriculture, hydraulics, tools). It serves both domestic and global OEMs across various industries.
From Fiscal 2021 to 2023, the company’s revenue from machined and forging products grew from ₹10,951.99 lakhs to ₹17,664.85 lakhs, achieving a 27% CAGR. Its products include forks, flange yokes, gear blanks, and more for commercial vehicles, railways, and agriculture.
Forge Auto International Ltd Other Details
| Event/Detail | Date/Information |
|---|---|
| Open Date | 26 Sep, 2024 |
| Close Date | 30 Sep, 2024 |
| Allotment Date | 01 Oct, 2024 |
| Listing Date | 04 Oct, 2024 |
| Issue Price | ₹102-108 per equity share |
| Face Value | ₹10 per equity share |
| Exchange | NSE SME |
| Registrar | Bigshare Services Pvt Ltd |
| Market Lot | 1200 shares (₹129,600/-) |
| Lead Manager | Hem Securities Limited |
| Issue Size | 2,880,000 shares (aggregating up to ₹31.10 Cr) |
| Retail Portion | 35% |
– EPS Pre-IPO: ₹6.17
– EPS Post-IPO: ₹4.42
– P/E Pre-IPO: 17.5
– P/E Post-IPO: 24.42
Forge Auto International Ltd Financials
| Financial Year | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|
| Assets (₹ Lakhs) | 8,274.29 | 5,677.94 | 5,306.96 |
| Revenue (₹ Lakhs) | 17,764.43 | 13,400.28 | 10,975.23 |
| Profit After Tax (₹ Lakhs) | 496.29 | 264.34 | 160.55 |
Read More: Diffusion Engineers subscribed 7 times on the first bidding day . Check GMP & Other details here
Company Pr0motors
- Parmod Gupta
- Rajan Mittal
Issue Objectives
- To meet Working Capital requirements
- Repayment of specific borrowing
- General Corporate Purpose
Forge Auto International Ltd. GMP Today
The current GMP of the company is around Rs.25-30 which is around 24% of the Issue price . It is expected that investors can get a profit of 24% per lot if the stock lists at such GMP price.
Note: The GMP fluctuates on the basis of market demand.
Disclaimer:
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.