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Metalic Technoforge IPO
Price Band
₹72.0–77.0
Issue Size
₹49.96 Cr
Lot Size
1,600 shares
Min Investment
₹246,400
2 LOTS MIN
GMP
+₹6.0 (7.79%)
Issue Price
₹77.0
Subject to Sauda
₹7300
Paid only if allotted
Metalic Technoforge IPO AI Summary
- Metalic Technoforge IPO is listed on NSE SME in the Industrial Products sector.
- Price band: ₹72.0–₹77.0 per share, lot size 1,600 shares (min. investment ₹246,400, 2 lots minimum).
- Subscription window: 21 Jul–23 Jul 2026, listing on 28 Jul 2026.
- Current GMP is +₹6.0 (7.79%), an estimated listing price of ₹83 — unofficial and can change daily.
Metalic Technoforge Ltd. is set to launch its IPO with a price band of ₹72.0 to ₹77.0, aiming to raise approximately ₹49.96 Cr. The company has shown strong revenue and profit growth in recent years, and the IPO has garnered significant interest, with overall subscription at 8.47 times as of 23rd July 2026.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
8.47x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
4.58x
|
4.58x |
| NII (HNI) |
17.07x
|
17x ✓ |
| ↳ bNII (>₹10L) |
20.82x
|
21x ✓ |
| ↳ sNII (<₹10L) |
9.60x
|
9.60x |
| Retail (RII) |
7.00x
|
7.00x |
| Total | 8.47x | 8.47x |
Auto-updated every 5 min · As of 23rd Jul 2026 18:56
Metalic Technoforge IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+7.79%
Est. Listing
₹83.0
Updated: 28 Jul 2026 07:15
GMP Trend (Last 12 Days)
About the Company
Incorporated in October 2016, Metalic Technoforge Ltd. manufactures closed-die forged and precision-machined components. The company's product portfolio includes complex, safety-critical forged and precision-machined products such as big and small rings, ball studs, gear blanks with broaching, gears, coupling assemblies, and other critical components for various industries. The company serves domestic and global OEMs across automotive and non-automotive sectors. Automotive OEMs include manufacturers of automobiles, tractors, and commercial vehicles. Non-automotive OEMs include manufacturers of agricultural equipment, hydraulic equipment, construction machinery, and general engineering products. The company's manufacturing unit is situated in Rajkot, Gujarat. As of March 01, 2026, the Company had an order book of approximately ₹ 2,447.06 lakhs. As of February 28, 2026, the company had 188 personnel at its manufacturing units and registered office.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 92.09 | 65.10 | 33.67 |
| Total Income | 97.98 | 75.64 | 51.50 |
| Profit After Tax | 12.36 | 9.03 | 4.26 |
| EBITDA | 21.95 | 16.08 | 7.29 |
| NET Worth | 33.42 | 17.40 | 7.72 |
| Reserves and Surplus | 15.92 | 16.40 | 7.37 |
| Total Borrowing | 31.78 | 27.97 | 10.81 |
Key Ratios
EPS
₹7.07
NAV
₹19.10
ROE
48.66%
ROCE
30.38%
RoNW
37%
P/B Value
4.03
P/E Ratio
10.9
Market Cap
₹184.68 Cr
PAT Margin
12.94%
Debt/Equity
0.95
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Paramount Speciality Forgings Limited | 28.57 | 7.57% | 14.93 | 2.16 | 2.16 |
| Tirupati Forge Limited | 10.53 | 4.72% | 135.43 | 0.51 | 0.51 |
| Amic Forging Ltd | 197.6 | 13.31% | 66.91 | 26.78 | 26.78 |
| Metalic Thermoforminge Ltd This IPO | 19.1 | 37% | — | 7.12 | 7.12 |
Promoters
Gajipara Keyur Dhirajlal, Trambadiya Dhaval Vrajlal, Vadodariya Satish Rameshbhai, Kapadiya Vipul K, Rupapara Jay Rameshbahi, Gajipara Ronakkumar Mansukhbhai, Ekta Satish Vadodariya
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 Funding of capital expenditure requirements of the Company towards setting up of the proposed Manufacturing Unit IV and upgradation of existing units at manufacturing facility in Rajkot, Gujarat 30.81 2 Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company. 6.72 3 General Corporate Purpose 5.94 4 Issue Expenses 6.49 Total 49.96
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹51.50 Cr in the year ending 31 Mar 2024, increasing to ₹75.64 Cr by 31 Mar 2025, and further rising to ₹97.98 Cr by 31 Mar 2026. This shows a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹4.26 Cr for the year ending 31 Mar 2024, which grew to ₹9.03 Cr by 31 Mar 2025, and reached ₹12.36 Cr by 31 Mar 2026. This indicates a positive trend in profitability across the periods.
Valuation
The company's EPS is ₹7.07, and at the issue price of ₹77.0, this implies a P/E ratio of approximately 10.9. In comparison, peers are trading at P/E ratios ranging from 14.93 to 135.43.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the expected listing price of an IPO on the stock exchange, compared to its issue price. A positive GMP indicates that investors anticipate a higher listing price, while a negative GMP suggests the opposite. It is important to note that GMP is not a guarantee of actual listing gains.
Subscription Demand
As of 23rd July 2026, the IPO was subscribed 8.47 times overall. The breakdown shows that the Qualified Institutional Buyers (QIB) category was subscribed 4.58 times, Non-Institutional Investors (NII) at 17.07 times, and Retail Individual Investors (RII) at 7.0 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance. It's essential to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs with high volatility or those that have not yet established a consistent track record of profitability.
IPO Timeline, Explained
The IPO opens for subscription on 21st July 2026 and closes on 23rd July 2026. Allotment of shares is expected on 24th July 2026, with the listing date set for 28th July 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors, including market sentiment and demand for the stock. Investors should be prepared for the possibility of price fluctuations on the listing day.
This evaluation is generated from Metalic 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 Metalic Technoforge IPO GMP today?
Metalic Technoforge IPO GMP today is +₹6.0 (7.79%), indicating an estimated listing price of ₹83. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Metalic Technoforge IPO?
The price band of Metalic Technoforge IPO is ₹72.0–₹77.0 per share.
When does Metalic Technoforge IPO open and close?
Metalic Technoforge IPO opens on 21 July 2026 and closes on 23 July 2026.
When does Metalic Technoforge IPO list on the stock exchange?
Metalic Technoforge IPO listed on 28 July 2026 at ₹83.0.
What is the lot size for Metalic Technoforge IPO?
The lot size for Metalic Technoforge IPO is 1600 shares, requiring a minimum investment of ₹246,400 (2 lots).
What is the price band for the Metalic Technoforge IPO?
The price band for the Metalic Technoforge IPO is ₹72.0 to ₹77.0.
What is the minimum investment required?
The minimum investment required is ₹246,400, which corresponds to a lot size of 1600 shares.
When does the IPO open and close?
The IPO opens on 21st July 2026 and closes on 23rd July 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
When is the listing date for the IPO?
The listing date for the IPO is set for 28th July 2026.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
21 Jul 2026
Close
23 Jul 2026
Allotment
24 Jul 2026
Listing
28 Jul 2026
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