The Advance Technoforge initial public offering (IPO) began on Monday, 27 July, and will end on Wednesday, 29 July. The Advance Technoforge IPO price band is ₹95 per equity share, with a face value of ₹10 per share.
Established in 2013, Advance Technoforge Limited (ATL) is engaged in the manufacturing and supply of forged and precision-machined components, including products with specialised coatings and surface treatments. The company serves a diverse range of industries such as automotive, valves, pumps, construction, oil & gas, railways, and earth-moving equipment.
Backed by more than two decades of industry expertise, ATL supplies its products to leading global original equipment manufacturers (OEMs) across multiple industrial sectors, leveraging its engineering capabilities and precision manufacturing processes.
Advance Technoforge IPO GMP today
Advance Technoforge IPO GMP today is +9. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Advance Technoforge share was ₹104 apiece, which is 9.47% higher than the IPO price of ₹95.
Considering the grey market activity observed over the past 6 sessions, the IPO’s GMP is showing an upward trend today, suggesting a positive outlook for the listing. Throughout this timeframe, the GMP fluctuated between a minimum of ₹3.50 and a maximum of ₹9, as noted by experts.
Advance Technoforge IPO subscription status
Advance Technoforge IPO subscription status was 16% on day 1, so far. The retail portion is subscribed 29%, and NII portion has been booked 2%.
The company has received bids for 3,72,000 shares against 24,00,000 shares on offer at 15:07 IST, according to chittorgarh.com
Advance Technoforge IPO details
The Advance Technoforge IPO is a fixed-price issue worth ₹24.03 crore and opened for public subscription today. The IPO comprises entirely a fresh issue of 25 lakh equity shares, with no offer-for-sale (OFS) component.
The Advance Technoforge IPO requires investors to bid for a minimum lot size of 1,200 shares. Retail investors must apply for at least 2,400 shares, translating into a minimum investment of ₹2,28,000.
The company plans to utilise the ₹24.03 crore raised through the IPO to support its expansion and strengthen its financial position. Of the total proceeds, ₹7.19 crore has been earmarked for the purchase and installation of machinery to manufacture precision-machined components, while ₹7.25 crore will be used to meet working capital requirements. Additionally, ₹2.40 crore will be allocated towards the repayment or prepayment of borrowings, ₹3.59 crore for general corporate purposes, and ₹3.60 crore to meet issue-related expenses.
Sun Capital Advisory Services Pvt. Ltd. is the book-running lead manager to the issue, while KFin Technologies Ltd. has been appointed as the registrar.
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