Forge Auto International Limited (NSE SME)
Sep 26, 2024 - Sep 30, 2024
| Price | ₹102 - ₹108 |
| Premium | ₹15 |
|---|---|
| Lot size | 1200 |
| Allotment | Oct 1, 2024 |
| Listing | Oct 4, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 129600 | 798 |
| HNI | 2 | 2400 | 259200 | 342 |
Last updated on 30-Sep-2024 17:01:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 547200 | 11013600 | 20.13 |
| NIB | 410400 | 24176400 | 58.91 |
| RETAIL | 957600 | 59328000 | 61.95 |
| Total | 1915200 | 94518000 | 49.35 |
| Retail Apps | 49440 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹8.54 | @8% ₹9.76 | @9% ₹10.98 | @10% ₹12.2 | @11% ₹13.42 | @12% ₹14.64 |
Forge Auto International IPO Details
| Issue Size | 2,880,000 shares (aggregating up to ₹31.10 Cr) |
| Fresh Issue | 2,880,000 shares (aggregating up to ₹31.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,040,000 |
| Share holding post issue | 10,920,000 |
| Market Maker portion | 146,400 shares Hem Finlease |
Forge Auto International IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 35.76% | 32.78% | 21.53% |
| ROCE | 17.60% | 24.82% | 18.43% |
| RONW | 32.14% | 29.89% | 19.33% |
| EPS (basic) | 10.21 | 7.58 | 4.04 |
| P/E Pre IPO | 12.98 | ||
| P/E Post IPO | 17.63 |
Company Financials
Forge Auto International Limited Financial Information (Restated Consolidated)
| Period Ended | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| Assets | 10,148.67 | 8,274.29 | 5,677.94 |
| Revenue | 18,157.30 | 17,764.43 | 13,400.28 |
| Profit After Tax | 668.88 | 496.29 | 264.34 |
| Net Worth | 2,020.88 | 1,660.35 | 1,367.73 |
| Reserves and Surplus | 1,276.88 | ||
| Total Borrowing | 4,046 | 3,183.20 | 2,620.16 |
| Amount in Lakhs | |||
About Company
Forge Auto International Limited, incorporated in 2001, operates in the engineering and manufacturing industry, focusing on producing forged and precision-machined components for both automotive and non-automotive sectors. Its key automotive products include short and long forks, flange yokes, ball studs, gear blanks, and stub axle assemblies, while its non-automotive portfolio covers parts for agriculture, hydraulic tools, and striking tools. The company has demonstrated strong financial growth, with revenues increasing from ₹10,951.99 lakhs in FY 2021 to ₹17,664.85 lakhs in FY 2023, reflecting a robust 27% CAGR. Forge Auto's manufacturing capabilities include a forging capacity of 20,000 MT and a machining capacity of 2.5 million units. The company holds several key certifications, including ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, OHSAS 18001:2007 for occupational health and safety, IATF 16949:2016 for automotive industry standards, and ZED GOLD for sustainability. As of March 31, 2024, it employed 366 permanent staff across various departments.
Hem Securities Limited
Integrated Manufacturing Operations with a Diversified Product Portfolio: Forge Auto International offers a wide range of forged and precision-machined components, serving both automotive and non-automotive sectors, supported by robust forging and machining capacities.
Long-Standing Relationships: The Company has cultivated enduring relationships with key clients in both automotive and industrial sectors, ensuring consistent business growth and stability.
Experienced Promoters and Senior Management Team: Led by seasoned promoters and an experienced management team, Forge Auto benefits from industry expertise and strategic leadership, driving its operational success and market expansion.
Customer Concentration Risk: Forge Auto International relies on a limited number of customers for its revenue, and the loss of one or more could significantly impact its business and financial stability, as there are no long-term agreements in place.
No Binding Purchase Agreements: The Company lacks formal agreements or price commitments from customers, increasing the risk that clients may switch to competitors, potentially affecting business continuity.
Supplier Dependence: The Company relies heavily on a few suppliers for steel, its primary raw material, without definitive supply contracts, posing a risk of supply disruption that could adversely affect operations.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html