Forge Auto International Limited
Bookbuilding IPO · NSE
- Price band
- ₹102 - ₹108
- Lot size
- 1,200 shares
- Issue amount
- ₹31.1 cr
- Total subscription
- 49.35×
- Opens
- 26 Sept 2024
- Closes
- 30 Sept 2024
- Allotment
- 1 Oct 2024
- Listing
- 4 Oct 2024
Offer at a glance
Issue overview
- Issue size
- 28,80,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,22,400
- Fresh issue
- ₹31.1 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,29,600
- Issue type
- Bookbuilding IPO
- Shares before issue
- 80,40,000
- Shares after issue
- 1,09,20,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 1,200 | ₹1,29,600 |
| HNI | 2 | 2,400 | ₹2,59,200 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 5.91 | 118.95 |
| RETAIL | 10.34 | 640.74 |
Financial performance
Company financials
In Lakhs · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 10.21 | 7.58 | 4.04 |
| ROE | 35.76 | 32.78 | 21.53 |
| ROCE | 17.6 | 24.82 | 18.43 |
| RONW | 32.14 | 29.89 | 19.33 |
| PRE IPO(PE) | 12.98 | 0 | 0 |
| POST IPO(PE) | 17.63 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Forge Auto International Limited, incorporated in 2001, is engaged in the engineering and manufacturing of forged and precision-machined components for automotive and non-automotive sectors, producing items like forks, flange yokes, ball studs, gear blanks, stub axle assemblies, and components for agriculture, hydraulic and striking tools. The company has shown strong growth, with revenue rising from ₹10,951.99 lakhs in FY 2021 to ₹17,664.85 lakhs in FY 2023, posting a 27% CAGR. With a forging capacity of 20,000 MT and a machining capacity of 2.5 million units, Forge Auto holds key certifications such as ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007, IATF 16949:2016, and ZED GOLD, and as of March 31, 2024, it had 366 permanent employees.
Strengths
- Diversified Products & Integrated Manufacturing: Wide range of forged and precision-machined parts for both automotive and non-automotive sectors, backed by strong forging and machining capabilities.
- Strong Client Relationships: Long-term partnerships with key customers support stable growth and repeat business.
- Experienced Leadership: Led by seasoned promoters and a skilled management team, enabling strategic expansion and operational efficiency.
Risk factors
- Customer Concentration: Revenue depends on a few key customers, and there are no long-term contracts in place — losing any major buyer could impact performance.
- No Binding Purchase Orders: Lack of firm agreements or price commitments increases the risk of customers shifting to competitors.
- Supplier Dependence: Heavy reliance on a few steel suppliers without guaranteed contracts may lead to supply disruptions and affect production.
Promoters
Parmod Gupta
Rajan Mittal
Registrar & documents
Lead manager
Hem Securities Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Village Mangarh, KoharaMachhiwara Road, Ludhiana,-, 141001
+91- 8999999195
[email protected]Company website ↗Understanding FORGEAUTO IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.