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

CategoryOfferedAppliedTimes
QIB5472001101360020.13
NIB4104002417640058.91
RETAIL9576005932800061.95
Total19152009451800049.35
Retail Apps49440© 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
About

Forge Auto International IPO Details

Issue Size2,880,000 shares
(aggregating up to ₹31.10 Cr)
Fresh Issue2,880,000 shares
(aggregating up to ₹31.10 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue8,040,000
Share holding post issue10,920,000
Market Maker portion146,400 shares
Hem Finlease

Forge Auto International IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net Issue
Retail Shares OfferedNot less than 35.00% of the Net Issue
NII (HNI) Shares OfferedNot less than 15.00% of the Net Issue

Key Performance Indicator

KPIMar-24Mar-23Mar-22
ROE35.76%32.78%21.53%
ROCE17.60%24.82%18.43%
RONW32.14%29.89%19.33%
EPS
(basic)
10.217.584.04
P/E
Pre IPO
12.98
P/E
Post IPO
17.63

Company Financials

Forge Auto International Limited Financial Information (Restated Consolidated)

Period EndedMar-24Mar-23Mar-22
Assets10,148.678,274.295,677.94
Revenue18,157.3017,764.4313,400.28
Profit After Tax668.88496.29264.34
Net Worth2,020.881,660.351,367.73
Reserves and Surplus1,276.88
Total Borrowing4,0463,183.202,620.16
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.

Lead Manager(s)

Hem Securities Limited

Strength

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.

Weakness

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.

Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html