The Metalic Technoforge initial public offering (IPO) began on Tuesday, 21 July, and will end on Thursday, 23 July. The Metalic Technoforge IPO price band is ₹72-77 per equity share, with a face value of ₹10 per share.
Established in 2016, Metalic Technoforge produces closed-die forgings and precision-machined components such as rings, ball studs, gears, and coupling assemblies, serving both domestic and international original equipment manufacturers in sectors such as automotive, agricultural equipment, hydraulics, construction machinery, and general engineering.
At present, Metalic Technoforge operates three manufacturing facilities that handle processes including forging, heat treatment, shot blasting, quality control, finished product storage, packaging and shipping, raw material storage, cutting, die manufacturing, and tooling.
Metalic Technoforge IPO GMP today
Metalic Technoforge IPO GMP is ₹0, indicating shares are trading at the issue price of ₹77 with no premium or discount in the grey market, according to investorgain.com.
Metalic Technoforge IPO subscription status
Metalic Technoforge IPO subscription status was 28% on day 1, so far. The retail portion is subscribed 49%, and NII portion has been booked 17%, QIBs portion is yet to receive bids.
The company has received bids for 12,20,800 shares against 43,20,000 shares on offer at 14:38 IST, according to chittorgarh.com
Metalic Technoforge IPO details
The Metalic Technoforge IPO is a completely fresh issue of 64.88 lakh equity shares, aggregating to nearly ₹50 crore at the upper end of the price band. As there is no offer for sale (OFS) component, the company will receive the entire proceeds from the issue.
The company plans to utilise ₹30.8 crore from the net proceeds to set up its proposed Manufacturing Unit IV and upgrade existing facilities at its manufacturing plant in Rajkot. It has also earmarked ₹6.72 crore for the repayment or prepayment of certain borrowings, while the remaining funds will be used for general corporate purposes.
Smart Horizon Capital Advisors is the book-running lead manager to the issue. The company’s equity shares are proposed for listing on the NSE Emerge platform, with a tentative listing date of 28 July.
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