IPO Details

Bidding Dates

29 Nov '23 - 01 Dec '23

Minimum Investment

₹126,000 / 1 Lots ( 1000 Shares )

Price Range

₹121 to ₹126 Per Share

Maximum Investment

₹126,000 / 1 Lots ( 1000 Shares )

Retail Discount

Not Applicable

Issue Size

₹34.80 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Nov 29, 2023

IPO Closing Date

Dec 1, 2023

Basis of Allotment

Dec 6, 2023

Initiation of Refunds

Dec 7, 2023

Credit of Shares to Demat

Dec 8, 2023

Listing Date

Dec 11, 2023

Cut-off time for UPI mandate confirmation

Dec 1, 2023

IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Nov 29, 2023

 3.53x 4.02x 6.65x 5.20x

Day 2Nov 30, 2023

 7.43x 20.90x 35.09x 24.16x

Day 3Dec 1, 2023

 91.43x 589.27x 273.01x 289.05x

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 91.43
Non-Institutional Buyers 589.27
Retail Investors 273.01
Total 289.05

About AMIC Forging Limited

AMIC Forging Limited operates as a prominent player in the forging industry, specialising in producing precision-machined components tailored to customer specifications and international standards. The company serves various industries, including Heavy Engineering, Steel, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement, Sugar, and related sectors.

  1. Product Portfolio:

    With a focus on manufacturing various forging components in compliance with international standards such as AISI, BS, IS, and DIN, AMIC Forging Limited produces commonly used items like Rounds, Shafts, and Blanks, as well as complete finished engineering spare parts like Gear Couplings, Hubs, Rounds, Flanges, and various engineering spares according to customer specifications. The materials employed in production encompass carbon steel, alloy steel, stainless steel, nickel, and tool alloys.

  2. Manufacturing Facility:

    AMIC Forging Limited operates a forging unit with a 6 M/ton Electro Hydraulic Hammer, a 1 M/ton Pneumatic Hammer, and supporting equipment. The facility includes three Overhead Cranes, Jib Cranes, and three temperature-controlled oil-fired furnaces.
    AMIC Forging Limited boasts a well-established design centre featuring cutting-edge 3D software and a team of highly trained technicians, ensuring the company's ability to deliver innovative and bespoke solutions to its clientele.

Industry Outlook

  1. India's manufacturing sector is a magnet for foreign investments, with projections indicating a potential value of $1 trillion by 2025.
  2. The implementation of the Goods and Services Tax (GST) makes India an attractive common market, boasting a GDP of $2.5 trillion and a population of 1.32 billion, drawing significant investor interest.
  3. Government initiatives like SAMARTH Udyog Bharat 4.0 aim to enhance manufacturing competitiveness, aligning with the development of industrial corridors and smart cities, creating a favourable environment for companies like AMIC Forging Limited to thrive.

AMIC Forging Limited IPO Details

AMIC Forging Limited IPO Date

The IPO of AMIC Forging Limited is open for subscription from November 29, 2023 to December 1, 2023.

AMIC Forging Limited IPO's Price Band

AMIC Forging Limited’s IPO is a fresh issue IPO of up to ₹2800 crore. It is a book-building issue. The price range is set to ₹113 to ₹119 per share.

AMIC Forging Limited IPO's Lot Size

The lot size for AMIC Forging Limited’s IPO is 126 shares with a minimum investment of ₹14,994.

AMIC Forging Limited IPO's Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Setting up of Manufacturing Facility: AMIC Forging Limited is venturing into a foundry set up to meet the rising demand for premium ingots. The required financing of ₹2,235.20 lakh will be sourced from net proceeds based on feasibility reports from industry-leading furnace manufacturers.
  2. Working Capital Requirements: The company, acknowledging its working capital intensity, plans to allocate ₹750.00 lakh from the net proceeds to address the projected ₹1,567.64 lakh working capital needs for FY 2023-2024. The remainder will be met through internal accruals.
  3. General Corporate Purposes: AMIC Forging Limited's management aims to flexibly allocate the rest of the gross proceeds for diverse corporate purposes. This includes strategic initiatives, partnerships, acquisitions, branding, marketing, and facility enhancements, subject to compliance with the Companies Act.

How To Check the Allotment Status of AMIC Forging Limited’s IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the IPO Section and then to IPO Orders.
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of AMIC Forging Limited

Registered office: 3A, Garstin Place, 2nd Floor, Kolkata – 700001, West Bengal, India

Contact Person: Ms. Neha Fatehpuria (Company Secretary and Compliance Officer)

Phone: +91 33 - 40668190

E-mail: amic@amicforgings.com

Company Financials

Particulars Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 11,683.01 7,138.82 2,643.37
Sales Growth (%) 63.02% 170.06% NA
EBITDA Margin (%) 11.71% 3.08% 5.71%
Profit After Tax (PAT) 980.01 86.59 56.27
PAT Margin (%) 8.46% 1.22% 2.13%
Total Borrowings 385.17 1,071.32 436.50
Cash & Cash Equivalents 9.99 18.48 15.63
Debt to Equity Ratio(x) 0.26 1.37 0.58
Return on Equity (%) 71.25% 11.96% 9.85%
Return on Capital Employed (RoCE) (%) 55.78% 10.31% 10.05%
Earning Per Share (EPS) in absolute ₹ 12.83 1.14 0.75

Know before investing

Strengths

3

  1. Potential benefits from 100% Foreign Direct Investment (FDI) for innovative products and technologies. Opportunities arise from changes in government policies and developments in non-automotive sectors such as railway and defence.

  2. With a diversified product basket catering to various industries, AMIC Forging Limited is strategically positioned to capitalise on evolving market demands and opportunities.

  3. AMIC Forging Limited maintains a competitive edge, not only in terms of product quality but also in competitive bidding, solidifying its position in the market. A well-established marketing and distribution network further enhances the company's reach, ensuring effective penetration into target markets.

Risks

5

  1. The intense competition within the domestic market poses challenges, requiring strategic agility to maintain market share.

  2. High costs and fluctuations in input prices create a potential vulnerability, necessitating prudent financial management.

  3. The company relies on semi, and unskilled labour impacts productivity, requiring targeted interventions to enhance efficiency.

  4. The company faces external threats, including potential disruptions from changes in government policies, variations in raw material quality and pricing, technological shifts, and evolving customer preferences.

  5. While opportunities for export exist, the company is exposed to threats such as cheap imports, particularly from China, and pricing pressure from Original Equipment Manufacturers (OEMs).

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AMIC Forging Ltd IPO FAQs

What is AMIC Forging Limited's IPO?

AMIC Forging Limited IPO is a fresh issue of up to ₹34.80 Crore. It is a book-building issue.

When will AMIC Forging Limited's IPO be allotted?

The AMIC Forging Limited’s shares will be allotted on December 6, 2023.

When will AMIC Forging Limited's IPO open for subscription?

The IPO subscription window for AMIC Forging Limited will open on November 29, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 1000 shares, with a sum of ₹1,26,000.

When will AMIC Forging Limited list on exchanges?

AMIC Forging Limited will be listed on BSE SME. The stock will be listed on December 11, 2023.

How do I check the allotment status of AMIC Forging Limited?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on AMIC Forging Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for AMIC Forging Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for AMIC Forging Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of AMIC Forging Limited using one PAN?

You can submit only one application using your PAN card.