Advance Technoforge IPO

The Advance Technoforge SME IPO is open between 27 Jul 2026 and 29 Jul 2026, offered at an issue price of ₹95 per share, and is set to list on BSE. The IPO seeks to raise ₹24.03 crore. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,28,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹22.8 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward purchase and installation of machinery for manufacturing of precision machine components at the existing premises (including gst) (₹6.08 crore), alongside part funding of working capital requirements (₹5 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2024, Advance Technoforge reported revenue of ₹26.01 crore and a net profit of ₹1.35 crore. Revenue declined from ₹31.56 crore in FY2022 to ₹26.01 crore in FY2024 (-18.0%). Net worth stood at ₹8.28 crore at the end of FY2024.

Peer comparison

The offer document names listed peers including Forge Auto International Limited and Tirupati Forge Limited, with a median peer P/E of about 51.5×.

Promoters

The promoters of the company are Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya and Kajal Alpesbhai Moliya. Promoter holding stands at 100% before the issue and comes down to 71.99% after listing.

Grey market premium (GMP)

In the unofficial grey market, Advance Technoforge shares are quoted at a premium of ₹0 implying an expected listing around ₹95, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Advance Technoforge IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Advance Technoforge

Incorporated in 2013, Advance Technoforge Limited (ATL) is engaged in the manufacturing and supplying of the forged and precision machined parts with coatings and treatments, serving industries like automotive, valves, pumps, construction, and more. With 20+ years of experience the company manufactures the qualified product lines cto global original equipment manufacturers-OEMs in Automotive, oil and gas industries, earth moving equipment, Railway etc. Products: Tow Hook Assembly - A robust component designed for securing vehicles, made from alloy steel with a polished and plated finish, suitable for US electric SUVs. Retainer Plate - A structural part used in material lifting equipment, crafted from durable carbon steel for strength and reliability. Cross Member - Provides support in material lifting equipment, made from carbon steel to ensure stability and durability under heavy loads. Connecting Rod - A key part in automotive engines, designed from carbon steel to withstand high stress and provide optimal performance. Boden (End Cap) - Used in hydraulic applications, made from carbon steel for durability and effective sealing in hydraulic systems. As of 24 February 2025, the company has 136 employees as on engaged in manufacturing, marketing, administration, financial, legal and other activities of the Company. Competitive Strengths: Experienced Promoters and Senior Management Integrated Manufacturing Facility with diversified product portfolio Large-scale Manufacturing Capabilities Long-Standing Relationship with Interested Parties