Forge Auto International’s IPO is a book-built issue worth Rs 31.10 crores. The entire issue consists of a fresh offering of 28.8 lakh shares.
The subscription for the Forge Auto International IPO opens on September 26, 2024, and closes on September 30, 2024. The allotment of shares is expected to be finalized on Tuesday, October 1, 2024. Forge Auto International plans to list on the NSE SME, with a tentative listing date set for Friday, October 4, 2024.
Forge Auto International Limited operates in the engineering sector, specifically focusing on the manufacturing of complex, safety-critical, forged, and precision-machined components. They cater to both the automotive industry (including automobiles, tractors, and railways) and non-automotive sectors (such as agriculture parts, hydraulic parts, and striking tools).
The price band for the IPO is set between ₹102 and ₹108 per share. Investors must apply for a minimum lot size of 1,200 shares, requiring a minimum investment of ₹129,600 for retail investors. High-net-worth individuals (HNIs) need to invest in at least 2 lots (2,400 shares), amounting to ₹259,200.
Hem Securities Limited is serving as the book-running lead manager for this IPO, while Bigshare Services Pvt Ltd is the registrar. The market maker for the IPO is Hem Finlease.
Forge Auto International IPO Details:
| Company Name | Forge Auto International Limited |
| Sector | Engineering |
| IPO Type | SME |
| IPO Open date | 26th Sep 2024 |
| IPO Close date | 30th Sep 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Forge Auto International IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 2000 | 1,29,600 |
| HNI (Min) | 2 | 4000 | 2,59,200 |
Forge Auto International IPO Timeline:
| IPO Open Date | 26th Sep 2024 |
| IPO Close Date | 30th Sep 2024 |
| Basis of Allotment | 01st Oct 2024 |
| Refund Initiation Date | 03rd Oct 2024 |
| Shares Credit to Demat | 03rd Oct 2024 |
| Listing Date | 04th Oct 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Forge Auto International’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Engineering Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Forge Auto International and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
