Metalic Technoforge IPO

Metalic Technoforge Limited, incorporated in October 2016, manufactures closed-die forged and precision-machined components for automotive and industrial applications. Its product portfolio includes forged rings, ball studs, gear blanks, gears, coupling assemblies, and other safety-critical engineering components. The company caters to domestic and international OEMs across automotive, agriculture, construction, hydraulic equipment, and general engineering sectors. Its manufacturing facility is located in Rajkot, Gujarat, and is equipped to produce high-precision forged products. As of 1 March 2026, the company had an order book of approximately ₹24.47 crore and employed 188 personnel across its manufacturing units and registered office.

Metalic Technoforge Limited IPO Overview

Metalic Technoforge Limited is launching a Bookbuilding SME IPO comprising an entirely fresh issue of 64,88,000 equity shares, aggregating up to ₹49.96 crore. The IPO opens for subscription on 21 July 2026 and closes on 23 July 2026. The company has fixed the price band at ₹72 to ₹77 per share, with a face value of ₹10 per share. The shares are proposed to be listed on the NSE SME platform on 28 July 2026. The basis of allotment is expected to be finalised on 24 July 2026, while refunds and credit of shares to successful applicants’ demat accounts are scheduled for 27 July 2026. Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the registrar to the issue. Retail investors must apply for a minimum of 3,200 shares, while HNI investors must apply for at least 4,800 shares.

Metalic Technoforge Limited IPO Details

Particulars	Details
IPO Date	21 July 2026 to 23 July 2026
Listing Date	28 July 2026
Face Value	₹10 per share
Issue Price Band	₹72 to ₹77 per share
Lot Size	1,600 Shares
Total Issue Size	64,88,000 shares (aggregating up to ₹49.96 crore)
Fresh Issue	64,88,000 shares (aggregating up to ₹49.96 crore)
Offer for Sale	Nil
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,74,96,400 shares
Share Holding Post Issue	2,39,84,400 shares
Market Maker Portion	3,28,000 shares (aggregating up to ₹3 crore)
Book Running Lead Manager	Smart Horizon Capital Advisors Pvt. Ltd.
Registrar	Bigshare Services Pvt. Ltd.

Metalic Technoforge Limited IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50% of the Net Issue
Retail	Not less than 35% of the Net Issue
NII (HNI)	Not less than 15% of the Net Issue

Metalic Technoforge Limited 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

Metalic Technoforge Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	83.63%
Post-Issue	61.00%

Metalic Technoforge Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹7.12
Price/Earnings (P/E) Ratio	10.81x
Return on Net Worth (RoNW)	51.88%
Net Asset Value (NAV)	₹19.10
Return on Equity (ROE)	71.87%
Return on Capital Employed (ROCE)	31.88%
EBITDA Margin	21.62%
PAT Margin	12.14%
Debt-to-Equity Ratio	1.61

Objectives of the Proceeds

• ₹30.81 crore will be utilised to fund capital expenditure for setting up Manufacturing Unit IV and upgrading existing manufacturing facilities in Rajkot, Gujarat. 

• ₹6.72 crore will be used for the full or partial repayment and/or prepayment of certain outstanding secured borrowings of the company. 

• The remaining proceeds will be utilised for general corporate purposes, including operational, administrative, and strategic business requirements. 

Key Financials (₹ crore)

Particulars	30 Sept 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	76.56	65.10	33.67	21.23
Revenue (Total Income)	43.22	75.64	51.50	47.13
Profit After Tax	5.28	9.03	4.26	1.26
Reserves and Surplus	25.30	16.40	7.37	3.11
Total Borrowings	—	17.17	4.70	2.08

IPO Strengths of Metalic Technoforge Limited

• Manufactures high-precision closed-die forged and precision-machined components for automotive and industrial OEMs. 

• Diversified product portfolio includes forged rings, gears, coupling assemblies, ball studs, and other safety-critical engineering components. 

• Serves both domestic and international OEMs across automotive, agricultural, construction, hydraulic, and engineering sectors. 

• Strategically located manufacturing facility in Rajkot, Gujarat, supports efficient production and timely deliveries. 

• Experienced promoters and management team with strong technical expertise in precision forging and machining. 

• Healthy order book provides revenue visibility and supports future business growth. 

• Focus on quality manufacturing and long-term customer relationships enhances repeat business opportunities. 

Peer Group Comparison

Company Name	EPS (₹)	NAV (₹/Share)	P/E (x)	RoNW (%)	P/BV Ratio
Metalic Technoforge Limited	7.12	19.10	10.81	51.88	4.03
Peer Group
Amic Forging Ltd	26.78	197.60	66.91	13.31	9.09
Tirupati Forge Limited	0.51	10.53	135.43	4.72	6.90
Paramount Speciality Forgings Limited	2.16	28.57	14.93	7.57	1.14