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Advance Technoforge IPO
Price Band
₹
Issue Size
₹24.04 Cr
Lot Size
1,200 shares
Min Investment
₹228,000
2 LOTS MIN
GMP
+₹4.0 (4.21%)
Issue Price
₹95.0
Subject to Sauda
₹3600
Paid only if allotted
Advance Technoforge IPO AI Summary
- Advance Technoforge IPO is listed on BSE SME in the Aerospace & Defense sector.
- Subscription window: 27 Jul–29 Jul 2026, listing on 03 Aug 2026.
- Current GMP is +₹4.0 (4.21%) — unofficial and can change daily.
Advance Technoforge Limited is an SME in the Aerospace & Defense sector, focusing on manufacturing forged and precision machined parts. With a solid financial performance and a strong management team, the company aims to utilize the proceeds from its IPO for growth and operational enhancements.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
1.55x
| Category | Subscription | Status |
|---|---|---|
| NII (HNI) |
0.43x
|
0.43x |
| Retail (RII) |
2.68x
|
2.68x |
| Total | 1.55x | 1.55x |
Auto-updated every 5 min · As of 29th Jul 2026 18:56
Advance Technoforge IPO Grey Market Premium (GMP) Today
GMP
+₹4.0
GMP %
+4.21%
Est. Listing
₹99.0
Updated: 03 Aug 2026 10:00
GMP Trend (Last 12 Days)
About the Company
Incorporated in 2013, Advance Technoforge Limited (ATL) is engaged in the manufacturing and supplying of the forged and precision machined parts with coatings and treatments, serving industries like automotive, valves, pumps, construction, and more. With 20+ years of experience the company manufactures the qualified product lines cto global original equipment manufacturers-OEMs in Automotive, oil and gas industries, earth moving equipment, Railway etc. Products: Tow Hook Assembly - A robust component designed for securing vehicles, made from alloy steel with a polished and plated finish, suitable for US electric SUVs. Retainer Plate - A structural part used in material lifting equipment, crafted from durable carbon steel for strength and reliability. Cross Member - Provides support in material lifting equipment, made from carbon steel to ensure stability and durability under heavy loads. Connecting Rod - A key part in automotive engines, designed from carbon steel to withstand high stress and provide optimal performance. Boden (End Cap) - Used in hydraulic applications, made from carbon steel for durability and effective sealing in hydraulic systems. As of 24 February 2025, the company has 136 employees as on engaged in manufacturing, marketing, administration, financial, legal and other activities of the Company. Competitive Strengths: Experienced Promoters and Senior Management Integrated Manufacturing Facility with diversified product portfolio Large-scale Manufacturing Capabilities Long-Standing Relationship with Interested Parties
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 46.92 | 39.51 | 28.65 |
| Total Income | 50.73 | 51.16 | 48.24 |
| Profit After Tax | 4.06 | 2.70 | 1.70 |
| EBITDA | 8.35 | 5.52 | 3.86 |
| NET Worth | 13.38 | 9.56 | 6.93 |
| Reserves and Surplus | 7.19 | 3.13 | 6.44 |
| Total Borrowing | 17.29 | 17.51 | 11.19 |
Key Ratios
EPS
₹6.24
NAV
₹20.59
ROE
30.33%
ROCE
22.52%
RoNW
30.33%
P/B Value
4.61
P/E Ratio
15.22
Market Cap
₹85.78 Cr
PAT Margin
8.11%
Debt/Equity
1.29
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Diluted |
|---|---|---|---|---|
| Forge Auto International Limited | 63.23 | 17% | 9.39 | 9.91 |
| Tirupati Forge Limited | 10.53 | 5.24% | 93.56 | 0.51 |
| Advance Technoforge Ltd. This IPO | 20.59 | 30.33% | 15.22 | 6.24 |
Promoters
Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya, Kajal Alpesbhai Moliya, Shraddhaben Pradipbhai Vora
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Including GST) 7.19 2 Part Funding of working capital requirements 7.25 3 Repayment / Prepayment of all or certain of borrowings availed by the Company 2.40 4 General Corporate purposes 3.59 5 Issue Expenses 3.60 Total 24.03
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹48.24 Cr in the year ending 31 Mar 2024, increasing to ₹51.16 Cr by 31 Mar 2025, before slightly declining to ₹50.73 Cr in the year ending 31 Mar 2026, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.70 Cr for the year ending 31 Mar 2024, rising to ₹2.70 Cr by 31 Mar 2025, and further increasing to ₹4.06 Cr in the year ending 31 Mar 2026.
Valuation
Advance Technoforge Limited's implied P/E at the issue price is 15.22, priced at roughly 15.22 trailing earnings, versus peers trading at P/E ratios ranging from 9.39 to 93.56.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the price at which shares are being traded in the grey market before they are officially listed on the stock exchange. A positive GMP suggests that the market expects the stock to list at a premium to the issue price.
Subscription Demand
As of 29th July 2026, the IPO has received a total subscription of 1.55 times, with the Retail (RII) category subscribed 2.68 times and the NII (HNI) category subscribed 0.43 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Factors such as the company's growth potential, industry position, and financial health should be considered.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid investing in IPOs like this, which can be more volatile and uncertain.
IPO Timeline, Explained
The IPO opens on 27th July 2026 and closes on 29th July 2026. Allotment of shares is expected to be finalized by 30th July 2026, with the listing date set for 3rd August 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit made when an IPO's shares are sold on the listing day at a higher price than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from Advance Technoforge's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Advance Technoforge IPO GMP today?
Advance Technoforge IPO GMP today is +₹4.0 (4.21%). GMP is an unofficial grey-market indicator and can change daily.
When does Advance Technoforge IPO open and close?
Advance Technoforge IPO opens on 27 July 2026 and closes on 29 July 2026.
When does Advance Technoforge IPO list on the stock exchange?
Advance Technoforge IPO listed on 03 August 2026 at ₹99.0.
What is the lot size for Advance Technoforge IPO?
The lot size for Advance Technoforge IPO is 1200 shares, requiring a minimum investment of ₹228,000 (2 lots).
What is the lot size for this IPO?
The lot size for Advance Technoforge's IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹2,28,000.
What is the issue price of the shares?
The issue price of the shares is ₹95.0.
When does the IPO open and close?
The IPO opens on 27th July 2026 and closes on 29th July 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
27 Jul 2026
Close
29 Jul 2026
Allotment
30 Jul 2026
Listing
03 Aug 2026
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