- Issue price
- ₹95per share
- Issue size
- ₹24.03 Cr25,29,600 shares
- Face value
- ₹10per equity share
- Lot size
- 2,400 sharesMin. ₹2.28 L at the upper price
- OpensMon, 2026
- ClosesWed, 2026
- AllotmentFri, 2026Refunds and Demat credit same day
- ListingMon, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Fixed price, fresh issue
- Fresh issue
- 25,29,600 shares (₹24.03 Cr)
- Offer for sale
- None
- Total issue
- 25,29,600 shares (₹24.03 Cr)
- Market maker portion
- 1,29,600 shares
- Face value
- ₹10
- Listing at
- BSE SME
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail47.4%
- NII47.4%
- Market maker5.1%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 12,00,000 | 50.00% | 50% |
| Non-institutional investors (NII) | 12,00,000 | 50.00% | 50% |
| Market maker | 1,29,600 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹95 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 2 | 2,400 | ₹2.28 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2026, pre-issue- EPS (basic)
- ₹6.24
- P/E (FY 2026 at issue price)
- 15.22×
- RoNW
- 30.33%
- NAV per share (As at 31 March 2026)
- ₹20.59
- NAV per share (After issue at ₹95)
- ₹41.78
- EBITDA margin
- 16.69%
- PAT margin
- 8.11%
- ROCE
- 22.52%
- Debt to equity
- 1.29
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 50.05 | 50.70 | 47.96 |
| Total income | 50.73 | 51.16 | 48.24 |
| EBITDA | 8.35 | 5.52 | 3.86 |
| Profit after tax | 4.06 | 2.70 | 1.70 |
| Net worth | 13.38 | 9.56 | 6.93 |
| Reserves and surplus | 7.19 | 3.13 | 6.44 |
| Total assets | 46.92 | 39.51 | 28.65 |
| Total borrowing | 17.29 | 17.51 | 11.19 |
12 months vs 12 months: revenue −1.3%, profit after tax +50.5%.
Source: ProspectusUpdated
About the company
The company manufactures forged steel and precision machined components in carbon, alloy and stainless steel for OEMs in automotive, earth moving, oil and gas, general engineering and railway sectors. Its operations are based at a factory in Rajkot, Gujarat, and it has been operating since its incorporation in 2013.
- Incorporated
- 2013
- Industry
- Forging and Precision Machining
- CIN
- U28111GJ2013PLC076316
- Website
- advancetechforge.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Promoters (Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya, Kajal Alpeshbhai Moliya, Shraddhaben Pradipbhai Vora) collectively | 72.00% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Purchase and installation of plant and machinery for precision machine components at the existing premises | 7.19 |
| Part funding of working capital requirements | 7.25 |
| Repayment or prepayment of certain borrowings | 2.40 |
| General corporate purposes | 3.59 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Advance Technoforge LimitedIssuer | ₹6.24 | 15.22× | 30.33% | ₹20.59 |
| Tirupati Forge Limited | ₹0.51 | 93.56× | 5.24% | ₹10.53 |
| Forge Auto International Limited | ₹9.91 | 9.39× | 17.00% | ₹63.23 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Manufacturing capacity of 6,000 MT per year with an additional line under way that is planned to raise capacity to 7,250 MT.
- Certifications include IATF 16949, ISO 9001 and PED, supporting supply to automotive and pressure-equipment customers.
- Revenue, EBITDA and profit after tax grew over FY 2024 to FY 2026.
- Long-standing relationships with OEM customers in several industries.
- Promoters have long experience in the business.
Risks
- About 64% of FY 2026 revenue came from the top 10 customers, and the loss of any major customer could hurt results.
- Revenue fell in FY 2026 after a major customer cut orders following US tariffs on India.
- Relies on a few steel suppliers without fixed supply contracts, exposing it to supply and price volatility.
- Capacity utilisation of the existing forging capacity was about 50% in FY 2026.
- No public market exists for the shares yet, and the post-listing price may differ from the issue price.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹95) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Advance Technoforge IPO open and close?
According to the Prospectus, the issue opens on Monday, 27 July 2026 and closes on Wednesday, 29 July 2026.
What is the Advance Technoforge IPO price band?
The final issue price is ₹95 per share.
What is the lot size of the Advance Technoforge IPO?
One lot is 2,400 shares, which is ₹2.28 L at ₹95 per share.
Where will Advance Technoforge shares list?
On BSE SME. The tentative listing date is Monday, 3 August 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Advance Technoforge IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 31 July 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹7.19 Cr for purchase and installation of plant and machinery for precision machine components at the existing premises, ₹7.25 Cr for part funding of working capital requirements, ₹2.4 Cr for repayment or prepayment of certain borrowings, ₹3.59 Cr for general corporate purposes.
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