AMIC Forging Limited IPO is set to launch on 29 November, 2023. The company initiated business operations in the year 2007. It is involved in the business of manufacturing forged components for multiple industries. Company’s product portfolio includes Shafts, Rounds, Blanks, Spare Parts like Gear coupling, Round, Hub, Flange etc. The products manufactured by the company are used in multiple industries like Heavy Engineering, Petrochemicals, OIl and Gas, Steel Industry, Refineries, Chemicals, Nuclear Power, Thermal Power, Cement Industry, Hydro Power, Sugar etc. The manufacturing facility has a forging unit with 1 MT capacity Pneumatic Hammer and 6 MT capacity Electro Hydraulic Hammer.
AMIC Forging Limited IPO DETAILS
AMIC Forging Limited IPO is set to launch on 29 November, 2023. The subscription timeline extends till 1 December, 2023. The size for the IPO is 34.80 Crore Rs. Shares issued through fresh issue mode are worth 34.80 Crore Rs. No shares are issued through offer for sale mode. The lot size is 1000 shares and the price is 121 Rs to 126 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of AMIC Forging Limited IPO
| IPO OPENING DATE | 29 November, 2023 |
| CLOSING DATE FOR IPO | 1 December, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 121 Rs to 126 Rs per share |
| LOT SIZE | 1000 shares |
| MINIMUM ORDER QUANTITY | 1000 shares |
| ISSUE SIZE | 34.08 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 34.80 Crore Rs. |
| LISTING AT | BSE SME |
| LISTING DATE | 11 December, 2023 |
AMIC Forging Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 29 November, 2023 |
| CLOSING DATE FOR IPO | 1 December, 2023 |
| IPO ALLOTMENT DATE | 6 December, 2023 |
| REFUNDS | 7 December, 2023 |
| DEMAT A/C CREDITED ON | 8 December, 2023 |
| IPO LISTING DATE | 11 December, 2023 |
AMIC Forging Limited IPO begins for subscription from 29 November, 2023. The IPO subscription would continue till 1 December, 2023. The allotment status for the shareholders who applied would come on 6 December, 2023. The refunds for the ones who did not get allotment would be initiated on 7 December, 2023. The DEMAT accounts of shareholders would be credited on 8 December, 2023. The listing of the company would be completed on 11 December, 2023.
AMIC Forging Limited IPO : Lead Managers
The lead managers are :
- Gretex Corporate Services Limited
The minimum lot size for the company is decided at 1000 shares. This holding accounts to 126000 Rs.. The maximum lot size is decided at 2000 shares (HNI). This amounts to 252000 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1000 shares | 126000 Rs. |
| Maximum | 2000 shares | 252000 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- IPO money will be used for expansion purposes like setting up of new facilities, purchase of plant and machinery etc.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| Asset | 1622 | 3163 | 6107 |
| Revenue | 2643 | 7138 | 11683 |
| PAT | 56 | 86 | 980 |
AMIC Forging Limited had an asset base of 1622 Lakh Rs in the year 2021 which increased to 3163 Lakh Rs in 2022 and 6107 Lakh Rs in 2023. The revenue of the firm was 2643 Lakh Rs in the year 2021 which increased to 7138 Lakh Rs in the year 2022. This jumped to 11683 Lakh Rs in the year 2023. The profit of the firm was 56 Lakh Rs in 2021 which increased slightly to 86 Lakh Rs. However in 2023 the profit jumped to 980 Lakh Rs.
PROS
- Company’s product portfolio includes Shafts, Rounds, Blanks, Spare Parts like Gear coupling, Round, Hub, Flange etc.
- The products manufactured by the company are used in multiple industries like Heavy Engineering, Petrochemicals, OIl and Gas, Steel Industry, Refineries, Chemicals, Nuclear Power, Thermal Power, Cement Industry, Hydro Power, Sugar etc.
- The manufacturing facility has a forging unit with 1 MT capacity Pneumatic Hammer and 6 MT capacity Electro Hydraulic Hammer.
CONS
- The company works in a highly competitive segment.
AMIC Forging Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the AMIC Forging Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
