AMIC Forging IPO: AMIC Forging Limited IPO Details

AMIC Forging IPO: In the dynamic world of investments, Initial Public Offerings (IPOs) continue to captivate the attention of both seasoned investors and newcomers to the stock market. One such IPO that has been making waves in the financial world is the AMIC Forging IPO. Set to open for subscription on November 29, 2023, and closing on December 1, 2023, this fresh issue of 27.62 lakh shares is set to raise Rs 34.80 crores. In this blog, we will delve into the details of the AMIC Forging IPO, including its price band, reservation, objectives, financial performance, and much more.

Also See: AMIC Forging IPO GMP

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AMIC Forging IPO Details

Here’s a snapshot of the key details regarding the AMIC Forging IPO:

ParameterInformation
IPO DateNovember 29, 2023 – December 1, 2023
Basis of AllotmentDecember 6, 2023
Listing DateDecember 11, 2023
Face Value₹10 per share
Price Band₹121 to ₹126 per share
Lot Size1000 Shares
Total Issue Size2,762,000 shares (aggregating up to ₹34.80 Cr)
Fresh Issue2,762,000 shares (aggregating up to ₹34.80 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE SME
Shareholding pre-issue7,726,410
Shareholding post-issue10,488,410
Market Maker portion139,000 shares

Also See: Upcoming IPO in India

AMIC Forging IPO Reservation

The allocation of shares in the AMIC Forging IPO will be distributed among various investor categories as follows:

  • QIB (Qualified Institutional Buyers): Not more than 50.00% of the Net Offer
  • Retail Investors: Not less than 35.00% of the Offer
  • NII (High Net Worth Individuals): Not less than 15.00% of the Offer

AMIC Forging IPO Lot Size

Investors interested in the AMIC Forging IPO can bid for a minimum of 1000 shares and in multiples thereof. Below is a table depicting the minimum and maximum investment for both retail investors and HNIs (High Net Worth Individuals):

ApplicationLotsSharesAmount
Retail (Min)11000₹126,000
Retail (Max)11000₹126,000
HNI (Min)22,000₹252,000

Also Read: How to Open a Demat Account on Groww

AMIC Forging IPO Promoter Holding

The promoters of AMIC Forging Limited include Mr. Girdhari Lal Chamaria, Mr. Anshul Chamaria, Ms. Manju Chamaria, and Ms. Rashmi Chamaria. Their shareholding in the company is set to change with the IPO as follows:

  • Share Holding Pre-Issue: 78.38%
  • Share Holding Post-Issue: 57.74%

AMIC Forging IPO Objectives

The funds raised through the AMIC Forging IPO will be utilized for the following purposes:

  1. Setting up of Manufacturing Facility: To expand and enhance their manufacturing capabilities.
  2. Working Capital Requirements: To support day-to-day operations and growth.
  3. General Corporate Purposes: For any other business-related expenses and opportunities.

Financial Performance

AMIC Forging Limited has demonstrated remarkable growth in its financial performance over the years. As per restated consolidated financial data:

  • Revenue increased by an impressive 63.65% between the financial year ending on March 31, 2023, and March 31, 2022.
  • Profit after tax (PAT) witnessed an extraordinary rise of 1031.78% during the same period, reflecting the company’s financial health and potential.

Also Read: All IPO Details

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets6,367.846,107.993,163.871,622.07
Revenue2,979.3211,683.017,138.822,643.37
Profit After Tax359.94980.0186.5956.27
Net Worth2,338.431,983.75767.28680.69
Reserves and Surplus2,252.581,897.90696.21609.62
Total Borrowing287.37385.171,071.32436.50
Amount in ₹ Lakhs
Line Graphs

About AMIC Forging Limited

Incorporation and Background: Founded in 2007, AMIC Forging Limited, previously known as Kali Mata Forging Private Limited, has established itself as a prominent player in the forging industry. The company specializes in the manufacturing of forged components that cater to a diverse range of industries.

Product Portfolio: AMIC Forging Limited manufactures precision machined components such as Rounds, Shafts, Blanks, and complete finished engineering spare parts. These components are essential in various industries, including Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar, and more. The company’s products are manufactured in various materials, including carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.

Infrastructure: The company’s manufacturing facilities are well-equipped, with a forging unit that includes a 6 M/ton capacity Electro Hydraulic Hammer and a 1 M/ton capacity Pneumatic Hammer. These machines are complemented by Manipulators, Overhead Cranes, Jib Cranes, and oil-fired furnaces, all designed to support the forging process. Additionally, AMIC Forging boasts a Heat Treatment Plant with temperature-controlled furnaces and a machine shop equipped with various machines necessary for the manufacturing process.

Also Read: IPO Subscription Status Live Today

AMIC Forging IPO Registrar

For all inquiries related to the AMIC Forging IPO, you can contact the registrar:

Bigshare Services Pvt Ltd

AMIC Forging IPO Lead Manager(s)

The lead manager for the AMIC Forging IPO is Gretex Corporate Services Limited.

AMIC Forging IPO Timeline

Mark your calendars with the key dates for the AMIC Forging IPO: [(Tentative Schedule)]

  • IPO Opens: Wednesday, November 29, 2023
  • IPO Closes: Friday, December 1, 2023
  • Basis of Allotment: Wednesday, December 6, 2023
  • Initiation of Refunds: Thursday, December 7, 2023
  • Credit of Shares to Demat: Friday, December 8, 2023
  • Listing Date: Monday, December 11, 2023
  • Cut-off time for UPI mandate confirmation: 5 PM on December 1, 2023

In conclusion, the AMIC Forging IPO offers investors an opportunity to participate in the growth story of a company with a strong track record, impressive financial performance, and a diversified product portfolio. Before investing, it’s essential to conduct thorough research, consider your financial goals, and consult with financial experts to make informed investment decisions. As the IPO market continues to evolve, staying informed is key to unlocking opportunities and achieving your investment objectives.

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