Advance Technoforge IPO: Price Band, Lot Size, Financials & Review
Advance Technoforge IPO listed on BSE on Mon, 3 Aug 2026. The issue was subscribed 1.61x overall.
- Open Date
- 27 Jul 2026
- Close Date
- 29 Jul 2026
Last updated
- Issue price
- ₹95
- Lot size
- 1,200 shares
- Min. investment
- ₹2,28,000
- Issue size
- ₹24.03 Cr
- Last GMP
- +₹4
- Subscribed
- 🔥 1.61x
Advance Technoforge IPO details
Advance Technoforge IPO is a ₹24.03 Cr fixed price IPO on the SME segment, listing on BSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Mon, 27 Jul 2026 to Wed, 29 Jul 2026. Allotment was finalised on Thu, 30 Jul 2026, and the shares listed on BSE on Mon, 3 Aug 2026.
The issue price is ₹95 per share and the lot size is 1200 shares, so the minimum retail application is ₹2,28,000. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,28,000).
KFin Technologies Limited is the registrar, and Sun Capital Advisory Services (P) Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Advance Technoforge IPO GMP before listing was +₹4 (+4.21% against the upper price band of ₹95), implying an estimated listing price of ₹99. Across 10 days of tracking, GMP ranged from +₹3 (31 Jul) to +₹9 (25 Jul).
| Last GMP | +₹4 |
|---|---|
| GMP vs upper band | +4.21% |
| Estimated listing price | ₹99 |
| Highest (25 Jul) | +₹9 |
| Lowest (31 Jul) | +₹3 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Advance Technoforge IPO day-wise GMP.
Subscription
Day-wise subscription →Advance Technoforge IPO was subscribed 1.61x overall: QIB 0.00x, NII 0.53x and retail 2.68x.
| Category | Subscribed |
|---|---|
| QIB | 0.00x |
| NII | 0.53x |
| Retail | 2.68x |
| Total | 1.61x |
Final figures at the close of bidding on 29 Jul 2026. Category-wise bids, application-wise breakup and allotment chances are on the Advance Technoforge IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Non-Institutional | 12,00,000 | 50.00% |
| Retail Investors | 12,00,000 | 50.00% |
| Total | 24,00,000 | 100.00% |
Advance Technoforge IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,28,000 |
| Retail (Max) | 2 | 2,400 | ₹2,28,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,42,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹95, the issue is priced at 15.22x pre-issue earnings and 21.16x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 51.48x (2 companies).
Promoter holding falls from 100.00% before the issue to 71.99% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹6.24 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 15.22x |
| EPS (post-issue) EPS on the enlarged share capital | ₹4.49 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 21.16x |
| Promoter holding (pre-issue) | 100.00% |
| Promoter holding (post-issue) | 71.99% |
Advance Technoforge Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income fell from ₹51.16 Cr to ₹50.73 Cr, and profit after tax rose from ₹2.7 Cr to ₹4.06 Cr. The PAT margin for 31 Mar 2026 was 8.00%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 46.92 | 39.51 | 28.65 |
| Total Income | 50.73 | 51.16 | 48.24 |
| Profit After Tax | 4.06 | 2.70 | 1.70 |
| EBITDA | 8.35 | 5.52 | 3.86 |
| Net Worth | 13.38 | 9.56 | 6.93 |
| Reserve & Surplus | 7.19 | 3.13 | 6.44 |
| Total Borrowings | 17.29 | 17.51 | 11.19 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2024 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 30.33 | 28.20 | 24.62 |
| ROCE % | 22.52 | 17.63 | 17.77 |
| Debt / Equity | 1.29 | 1.83 | 1.62 |
| RoNW % | 30.33 | 28.20 | 24.62 |
| Pat Margin % | 8.11 | 5.32 | 3.55 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Advance Technoforge Ltd | 10 | 15.22 | 6.24 | 6.24 | 30.33% | 20.59 |
| Tirupati Forge Ltd | 2 | 93.56 | 0.51 | 0.51 | 5.24% | 10.53 |
| Forge Auto International Ltd | 10 | 9.39 | 9.91 | 9.91 | 17.00% | 63.23 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Including GST) |
| 2 | Part Funding of working capital requirements |
| 3 | General Corporate purposes |
About Advance Technoforge Limited
Advance Technoforge Limited (ATL), incorporated in 2013, is a leading manufacturer and supplier of forged and precision-machined components with advanced surface coatings and treatments. The company serves a diverse range of industries, including automotive, oil & gas, valves, pumps, construction equipment, material handling, earthmoving machinery, and railways.
Backed by over 20 years of industry experience, ATL specializes in manufacturing high-quality engineered components that meet stringent international quality standards. The company supplies its products to global Original Equipment Manufacturers (OEMs) across the automotive, oil & gas, earthmoving equipment, railway, and other industrial sectors.
Product Portfolio
- Tow Hook Assembly: A high-strength alloy steel component designed for vehicle recovery and towing applications. It features a polished and plated finish and is specifically engineered for use in U.S. electric SUVs.
- Retainer Plate: A precision-engineered carbon steel component used in material lifting equipment, offering superior strength, durability, and operational reliability.
- Cross Member: A structural carbon steel component that provides essential support and stability in material handling and lifting equipment, ensuring dependable performance under heavy loads.
- Connecting Rod: A critical automotive engine component manufactured from high-grade carbon steel, designed to withstand high mechanical stress while delivering optimal engine performance.
- Boden (End Cap): A carbon steel component used in hydraulic systems, providing effective sealing, durability, and reliable performance in demanding hydraulic applications.
As of 24 February 2025, Advance Technoforge Limited employed 136 personnel across its manufacturing, marketing, administration, finance, legal, and other support functions, enabling the company to maintain efficient operations and deliver high-quality products to its global customer base.
Promoters
- Nilesh Shambhubhai Moliya
- Pradipbhai Bhikhabhai Vora
- Daxaben Nileshbhai Moliya
- Kajal Alpesbhai Moliya
Contact details
Advance Technoforge Ltd.
Sr. No.121, Plot No.1 to 6, At& Po. Padavala Road,
Opp. Eaterflow Piping System,
Veraval Shapar, Lodhika
Rajkot, Gujarat, 360024
Tel: +91 9825368310
Email:cs@advancetechforge.com
Website:https://www.advancetechforge.com/
Advance Technoforge IPO FAQs
- What is the Advance Technoforge IPO price band?
- Advance Technoforge IPO is a fixed price issue at ₹95 per share.
- What is the Advance Technoforge IPO lot size and minimum investment?
- The Advance Technoforge IPO lot size is 1200 shares. The minimum retail investment is ₹2,28,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares), costing ₹2,28,000.
- When was Advance Technoforge IPO open for subscription?
- Advance Technoforge IPO was open for subscription from Mon, 27 Jul 2026 to Wed, 29 Jul 2026.
- What is the Advance Technoforge IPO subscription status?
- Advance Technoforge IPO was subscribed 1.61x overall: QIB 0.00x, NII 0.53x and retail 2.68x. Day-wise and category-wise figures are on the subscription page.
- What was the Advance Technoforge IPO GMP before listing?
- The last Advance Technoforge IPO GMP before listing was +₹4 (+4.21% against the upper price band of ₹95), implying an estimated listing price of ₹99. Across 10 days of tracking, GMP ranged from +₹3 (31 Jul) to +₹9 (25 Jul). GMP is an unofficial grey market indicator and can change quickly.
- What is the Advance Technoforge IPO allotment date?
- The Advance Technoforge IPO basis of allotment was finalised on Thu, 30 Jul 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Advance Technoforge IPO listing date?
- Advance Technoforge IPO listed on BSE on Mon, 3 Aug 2026.
- Is the Advance Technoforge IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Advance Technoforge IPO?
- The registrar for the Advance Technoforge IPO is KFin Technologies Limited, and the book running lead manager is Sun Capital Advisory Services (P) Ltd.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.