Metalic Technoforge IPO
smelistedAbout the company
Incorporated in 2016, Metalic Technoforge is engaged in manufacturing closed-die forged and precision-machined components. The company supplies a wide range of complex and safety-critical products like rings, ball studs, gear blanks, gears, coupling assemblies and other engineered components. These products are supplied to original equipment manufacturers (OEMs) operating across automotive as well as industrial sectors. The company’s customer base includes manufacturers of passenger vehicles, commercial vehicles, tractors, agricultural equipment, hydraulic systems, construction machinery and general engineering products. Manufacturing is carried out using carbon steel, alloy steel, stainless steel and selected non-ferrous metals such as aluminium, brass and copper, depending on customer specifications. The manufacturing facility is located at Rajkot, Gujarat and consists of four units spread across nearly 5,969 square metres. The company has installed a 1 MW captive solar power plant spread over around 4 acres in Surendranagar, Gujarat. The plant currently meets ~40% to 60% of the company's electricity requirement, helping reduce dependence on conventional power sources and lowering operating costs to improve energy efficiency. Farm equipment and off-highway vehicles contributed the largest share of revenue at 29.6%, followed by general engineering at 21.5% and oil & gas at 12.00% in FY26. Exports accounted for 35.4% of total revenue, with Germany being the largest overseas market. Gujarat remained its largest domestic market, contributing nearly half of total revenue in FY26. Repeat customers contributed ₹85.13 crore (89.1%) of revenue from operations, while new customers contributed ₹10.41 crore or 10.9% in FY26. The largest supplier supplied for 25.8% of total purchases, while the top ten suppliers accounted for 68.1% of procurement in FY26.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 23 Jul | ₹3 | ₹80 | +3 |
| 22 Jul | ₹0 | ₹77 | 0 |
| 21 Jul | ₹0 | ₹77 | 0 |
| 20 Jul | ₹0 | ₹77 | 0 |
| 19 Jul | ₹0 | ₹77 | 0 |
| 18 Jul | ₹0 | ₹77 | 0 |
| 17 Jul | ₹0 | ₹77 | 0 |
| 16 Jul | ₹0 | ₹77 | 0 |
Strengths
- State-of-the-art integrated manufacturing facility with forging, heat treatment, machining, and die manufacturing capabilities.
- Diversified product portfolio serving automotive, agricultural equipment, construction machinery, hydraulic equipment, marine, and general engineering sectors.
- Strong quality assurance and quality control processes that support long-term customer relationships.
- Healthy order book with a mix of domestic and international OEM customers, providing revenue visibility.
- Experienced management team with long-standing customer relationships and growing export presence.
- Strong profitability and return ratios supported by high manufacturing capacity utilization.
Risks
- Significant revenue concentration in Gujarat, Maharashtra, and Uttar Pradesh, making the business vulnerable to regional slowdowns.
- Dependence on a limited number of key customers could impact revenue if major clients reduce orders.
- Reliance on a limited number of raw material suppliers exposes the company to supply disruptions and steel price volatility.
- Capital-intensive manufacturing business requiring continuous investment in plant, machinery, and working capital.
- Subject to environmental, safety, and other regulatory compliance requirements, with non-compliance potentially affecting operations.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed21 Jul 2026Bidding starts for all investor categories
IPO Closes
Completed23 Jul 2026Last day to place your bid
Basis of Allotment
Completed24 Jul 2026Share allotment finalised
Refund Initiation
Completed24 Jul 2026Refunds credited for non-allottees
Credit to Demat
Completed27 Jul 2026Allotted shares credited to demat account
Listing on Exchange
Completed28 Jul 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1600 | ₹123,200 | 1 | ₹123,200 | 1 lot only |
| HNI | 2 | 3200 | ₹246,400 | 2 | ₹246,400 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 3,355,705 | 25 | 0 | 0.00x | 100% |
| NII | 15% | 1,006,711 | 7.5 | 895,973 | 0.89x | 100% |
| Retail | 35% | 2,348,993 | 17.5 | 1,409,396 | 0.60x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
