Metalic Technoforge IPO Day 2 Live: Subscription At 0.43 Times As Retail Interest Improves

Mumbai, July 22: The Metalic Technoforge IPO has entered its second day of bidding, with the NSE SME public issue witnessing gradual investor participation. As of 10:34 AM, the ₹49.96 crore book-built IPO was subscribed 0.43 times, reflecting a modest improvement in demand compared with the opening day.

The public issue opened for subscription on July 21 and will remain available for bidding until July 23. With another full day of bidding still ahead after today, investors will closely watch whether subscription gathers momentum, particularly from institutional investors and high-net-worth applicants.

Retail Investors Continue To Lead Early Bidding

Retail investors have remained the strongest participants in the issue so far.

The Retail Individual Investor (RII) portion was subscribed 0.79 times by the morning update, improving from 0.62 times at the close of the first day. Although the category is yet to be fully subscribed, retail participation has continued to build steadily.

The Non-Institutional Investor (NII) category stood at 0.14 times overall. Within the segment, bNII was subscribed 0.45 times, while sNII reached 0.58 times.

Meanwhile, the Qualified Institutional Buyers (QIB) portion remained unsubscribed, with bids yet to be received in the non-anchor institutional category.

MetalicTechnoforge IPO Subscription Status Today

According to exchange data available at 10:34 AM on July 22, investors had bid for 18,38,400 equity shares against 43,20,000 shares available for subscription.

The latest category-wise subscription stood at:

• QIB (Ex-Anchor): 0.00 times
• NII: 0.14 times
• Retail (RII): 0.79 times
• Overall:0.43 times

The IPO had received 571 applications at the latest update.

Subscription Trend

The issue has seen a slight improvement since bidding began.

• Day 1: 0.37 times
• Day 2 (10:34 AM): 0.43 times

Subscription levels are expected to fluctuate throughout the trading session as more investors place bids. SME IPOs often witness stronger participation during the final day of subscription.

Metalic Technoforge IPO Details

Metalic Technoforge aims to raise ₹49.96 crore through a book-built public issue.

The issue consists of:

• Fresh Issue:61,60,000 equity shares aggregating ₹47 crore
• Market Maker Reservation:3,28,000 equity shares aggregating ₹2.53 crore

The company has fixed the price band at ₹72 to ₹77 per share.

Retail investors can apply for a minimum of 3,200 shares, requiring an investment of ₹2,46,400 at the upper end of the price band. The minimum application size for S-HNI investors is 4,800 shares, while B-HNI investors need to bid for at least 14,400 shares.

The shares are proposed to be listed on the NSE SME platform.

Reservation For Investors

The net issue has been reserved as follows:

• QIB: 49.87%
• Retail Investors: 35.06%
• NII: 15.06%

An additional 3,28,000 shares have been reserved for the market maker.

Important IPO Dates

• IPO Opens: July 21 2026
• IPO Closes: July 23 2026
• Expected Allotment: July 24 2026
• Expected Refunds: July 24 2026
• Expected Credit of Shares: July 27 2026
• Tentative Listing: July 28 2026

About Metalic Technoforge

Metalic Technoforge manufactures precision-engineered forged and machined components used across industries such as automotive, construction equipment, railways, agriculture and industrial engineering. The company supplies both domestic and international customers and focuses on value-added forged products.

Conclusion

Metalic Technoforge IPO has made a measured start, with subscription improving slightly on the second day of bidding. Retail investors continue to account for most of the demand, while participation from non-institutional and institutional investors remains limited. With the issue set to close on July 23, market participants will be watching whether subscription accelerates during the remaining bidding period.

Source:

• https://www.chittorgarh.net/reports/anchor-investor/metalic-technoforge-company_anchor_format-sme-ipo.pdf