Metalic Technoforge IPO: Price Band, Lot Size, Financials & Review
Metalic Technoforge IPO listed on NSE on Tue, 28 Jul 2026. The issue was subscribed 8.55x overall.
- Open Date
- 21 Jul 2026
- Close Date
- 23 Jul 2026
Last updated
- Price band
- ₹72 – ₹77
- Lot size
- 1,600 shares
- Min. investment
- ₹2,46,400
- Issue size
- ₹50 Cr
- Subscribed
- 🔥 8.55x
Metalic Technoforge IPO details
Metalic Technoforge IPO is a ₹50 Cr book-building IPO on the SME segment, listing on NSE. 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 Tue, 21 Jul 2026 to Thu, 23 Jul 2026. Allotment was finalised on Fri, 24 Jul 2026, and the shares listed on NSE on Tue, 28 Jul 2026.
The price band is ₹72 to ₹77 per share and the lot size is 1600 shares, so the minimum retail application is ₹2,46,400. Retail investors can apply for up to 2 lots (3,200 shares, ₹2,46,400).
Bigshare Services Pvt Ltd is the registrar, and Smart Horizon Capital Advisors Private Limited is the book running lead manager.
Subscription
Day-wise subscription →Metalic Technoforge IPO was subscribed 8.55x overall: QIB 4.58x, NII 17.42x and retail 7.00x.
| Category | Subscribed |
|---|---|
| QIB | 4.58x |
| NII | 17.42x |
| └ bNII (above ₹10 lakh) | 21.35x |
| └ sNII (₹2–10 lakh) | 9.60x |
| Retail | 7.00x |
| Total | 8.55x |
Final figures at the close of bidding on 23 Jul 2026. Category-wise bids, application-wise breakup and allotment chances are on the Metalic Technoforge IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Qualified Institutions | 12,32,000 | 28.52% |
| Non-Institutional | 9,28,000 | 21.48% |
| └ BNII | 6,17,600 | 14.30% |
| └ SNII | 3,10,400 | 7.19% |
| Retail Investors | 21,60,000 | 50.00% |
| Total | 43,20,000 | 100.00% |
Metalic Technoforge IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,46,400 |
| Retail (Max) | 2 | 3,200 | ₹2,46,400 |
| S-HNI (Min) | 3 | 4,800 | ₹3,69,600 |
| S-HNI (Max) | 8 | 12,800 | ₹9,85,600 |
| B-HNI (Min) | 9 | 14,400 | ₹11,08,800 |
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 ₹77, the issue is priced at 10.90x pre-issue earnings and 14.94x 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 66.91x (3 companies).
Promoter holding falls from 83.63% before the issue to 61.00% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹7.07 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 10.90x |
| EPS (post-issue) EPS on the enlarged share capital | ₹5.16 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 14.94x |
| Promoter holding (pre-issue) | 83.63% |
| Promoter holding (post-issue) | 61.00% |
Metalic Technoforge Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹75.64 Cr to ₹97.98 Cr, and profit after tax rose from ₹9.03 Cr to ₹12.36 Cr. The PAT margin for 31 Mar 2026 was 12.61%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 92.09 | 65.10 | 33.67 |
| Total Income | 97.98 | 75.64 | 51.50 |
| Profit After Tax | 12.36 | 9.03 | 4.26 |
| Net Worth | 33.42 | 17.40 | 7.72 |
| Reserve & Surplus | 15.92 | 16.40 | 7.37 |
| Total Borrowings | 31.78 | 27.97 | 10.81 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 48.66 | 71.87 | 76.27 |
| ROCE % | 30.38 | 31.88 | 37.01 |
| Debt / Equity | 0.95 | 1.61 | 1.40 |
| RoNW % | 37.00 | 51.88 | 55.21 |
| Pat Margin % | 12.94 | 12.14 | 8.39 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Metalic Thermoforminge Ltd | 10 | — | 7.12 | 7.12 | 37.00% | 19.10 |
| Amic Forging Limited | 10 | 66.91 | 26.78 | 26.78 | 13.31% | 197.60 |
| Tirupati Forge Ltd | 2 | 135.43 | 0.51 | 0.51 | 4.72% | 10.53 |
| Paramount Speciality Forgings Ltd | 10 | 14.93 | 2.16 | 2.16 | 7.57% | 28.57 |
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 | Funding of capital expenditure requirements of the Company towards setting up of the proposed Manufacturing Unit IV and upgradation of existing units at manufacturing facility in Rajkot, Gujarat. |
| 2 | Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company. |
| 3 | General Corporate Purpose |
About Metalic Technoforge Limited
Metalic Technoforge Ltd. was incorporated in October 2016 and is engaged in the manufacturing of closed-die forged and precision-machined engineering components.
The company's product portfolio comprises a wide range of complex, safety-critical components, including large and small forged rings, ball studs, gear blanks with broaching, gears, coupling assemblies, and other precision-engineered products. These components are used across multiple industrial applications and are manufactured to meet stringent quality and performance standards.
Metalic Technoforge Ltd. serves both domestic and international Original Equipment Manufacturers (OEMs) across the automotive and non-automotive sectors. Its automotive customer base includes manufacturers of passenger vehicles, commercial vehicles, and tractors, while its non-automotive customers include manufacturers of agricultural equipment, hydraulic systems, construction machinery, and general engineering products.
The company's manufacturing facility is strategically located in Rajkot, Gujarat, providing efficient access to key industrial markets and supporting its production capabilities.
As of March 1, 2026, Metalic Technoforge Ltd. had an order book valued at approximately ₹2,447.06 lakhs, reflecting a healthy pipeline of business and continued customer demand.
As of February 28, 2026, the company employed 188 personnel across its manufacturing facility and registered office, supporting its manufacturing, operational, and administrative functions.
Promoters
- Mr. Gajipara Keyur Dhirajlal
- Mr. Trambadiya Dhaval Vrajlal
- Mr. Vadodariya Satish Rameshbhai
- Mr. Kapadiya Vipul K
- Mr. Rupapara Jay Rameshbahi
- Mr. Gajipara Ronakkumar Mansukhbhai
- Ms. Ekta Satish Vadodariya
Contact details
Metalic Technoforge Ltd. Address
Sr. No.-129/1 P4(New Survey no. 296), Plot No.-5&6
Padavala Main Road, Opp. Electric Power House, Kot
VillagePadavala, Veraval (Shapar), Kotda Sanghani
Rajkot, Gujarat, 360024
Telephone: +91- 9033332532
Email:investors@metalictechnoforge.com
Website:http://www.metalictechnoforge/
Metalic Technoforge IPO FAQs
- What is the Metalic Technoforge IPO price band?
- The Metalic Technoforge IPO price band is ₹72 to ₹77 per share.
- What is the Metalic Technoforge IPO lot size and minimum investment?
- The Metalic Technoforge IPO lot size is 1600 shares. The minimum retail investment is ₹2,46,400 for one lot at the upper price band. Retail investors can apply for up to 2 lots (3,200 shares), costing ₹2,46,400.
- When was Metalic Technoforge IPO open for subscription?
- Metalic Technoforge IPO was open for subscription from Tue, 21 Jul 2026 to Thu, 23 Jul 2026.
- What is the Metalic Technoforge IPO subscription status?
- Metalic Technoforge IPO was subscribed 8.55x overall: QIB 4.58x, NII 17.42x and retail 7.00x. Day-wise and category-wise figures are on the subscription page.
- What is the Metalic Technoforge IPO allotment date?
- The Metalic Technoforge IPO basis of allotment was finalised on Fri, 24 Jul 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Metalic Technoforge IPO listing date?
- Metalic Technoforge IPO listed on NSE on Tue, 28 Jul 2026.
- Is the Metalic 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 Metalic Technoforge IPO?
- The registrar for the Metalic Technoforge IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Smart Horizon Capital Advisors Private Limited.
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.