Metalic Technoforge IPO

The Metalic Technoforge SME IPO is open between 21 Jul 2026 and 23 Jul 2026, offered at a price band of ₹72–77 per share, and is set to list on NSE. The IPO seeks to raise ₹49.96 crore. Retail investors bid in lots of 1600 shares, a minimum application of ₹2,46,400.

Issue structure

The IPO is structured entirely as a fresh issue of ₹47.43 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 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 (₹30.81 crore), alongside full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company. (₹6.72 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Metalic Technoforge reported revenue of ₹97.98 crore and a net profit of ₹12.36 crore. Revenue grew from ₹51.5 crore in FY2024 to ₹97.98 crore in FY2026 (+90.0%). Net worth stood at ₹33.42 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.9× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 14.94× post-issue earnings and 4.03× book value, against a return on net worth of 37% and a debt-to-equity ratio of 0.95. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Amic Forging Ltd and Paramount Speciality Forgings Limited, with a median peer P/E of about 66.9×. The issue's own post-issue P/E works out to 14.94×.

Promoters

The promoters of the company are <p>Gajipara Keyur Dhirajlal, Trambadiya Dhaval Vrajlal, Vadodariya Satish Rameshbhai, Kapadiya Vipul K, Rupapara Jay Rameshbahi, Gajipara Ronakkumar Mansukhbhai, Ekta Satish Vadodariya</p>. Promoter holding stands at 83.62% before the issue and comes down to 61% after listing.

Grey market premium (GMP)

In the unofficial grey market, Metalic Technoforge shares are quoted at a premium of ₹6 implying an expected listing around ₹83, about +7.8% 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.

Subscription

The Metalic Technoforge IPO was subscribed 8.47 times overall. The strongest demand came from non-institutional investors (NII) at 17.07 times, with qualified institutional buyers (QIB) at 4.58× and retail investors at 7×.

Listing performance

Metalic Technoforge listed on 28 Jul 2026 at ₹87, a premium of +13.0% over the issue price of ₹77.

What to weigh

When evaluating the Metalic Technoforge IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories 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 Metalic Technoforge

Incorporated in October 2016, Metalic Technoforge Ltd. manufactures closed-die forged and precision-machined components. The company's product portfolio includes complex, safety-critical forged and precision-machined products such as big and small rings, ball studs, gear blanks with broaching, gears, coupling assemblies, and other critical components for various industries.&nbsp; The company serves domestic and global OEMs across automotive and non-automotive sectors. Automotive OEMs include manufacturers of automobiles, tractors, and commercial vehicles. Non-automotive OEMs include manufacturers of agricultural equipment, hydraulic equipment, construction machinery, and general engineering products. The company's manufacturing unit is situated in Rajkot, Gujarat. As of March 01, 2026, the Company had an order book of approximately ₹ 2,447.06 lakhs. As of February 28, 2026, the company had 188 personnel at its manufacturing units and registered office. &nbsp;