Advance Technoforge IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Market Lot Size
IPO Reservation
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| NII | 0.14x | 0.18x | 0.53x |
| Retail | 0.37x | 0.81x | 2.68x |
| Total | 0.25x | 0.50x | 1.61x |
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 48.24 | 51.16 | 50.73 |
| Expense | 45.97 | 47.63 | 45.20 |
| Profit (PAT) | 1.70 | 2.70 | 4.06 |
| Total Assets | 28.65 | 39.51 | 46.92 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Advance Technoforge This IPO | 6.24 | - | 30.33 | 20.59 | - |
| Tirupati Forge Limited | 0.51 | 93.56 | 5.24 | 10.53 | 162.48 Cr |
| Forge Auto International Limited | 9.91 | 9.39 | 17.00 | 63.23 | 226.13 Cr |
Promoters & Holding Pattern
Promoters: Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya and Kajal Alpesbhai Moliya
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 25,29,600 | 100.00% |
| Promoter Holding Post Issue | – | 71.99% |
Strengths & Risks
- Solid profit margin — 8.0%.
- Strong return on equity — 30%.
- Revenue fell 1% in the latest reported year.
- Elevated leverage — debt/equity of 1.29.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Advance Technoforge
Advance Technoforge Limited (ATL), started in 2013, is a manufacturer and supplier of closed-die steel forging, upset forging, and ring rolling forging in rough & precision machined condition. Its manufacturing facility is equipped with in-house advanced technologies to manufacture various engineering components. Its product range includes Retainer Plate, Valve Bonnet, Trunnion, Tow-Hook-Assembly, Rod Eye, Lager Flansch, Gland, Cross Member, Bearing Housing, Chain Anchor Weldment, Bearing Housing Flange, connection rod, and many more. From product conceptualization to designing, manufacturing, testing, and validation, Advance Technoforge Limited provides end-to-end solutions. Furthermore, the company has over 20 years of experience in developing products that are high-quality and cost-effective and supplied it to global Original Equipment Manufacturers (OEMs) in industries such as automotive, oil and gas, earth-moving equipment, and railways.
Company Contact Information
Advance Technoforge Ltd., Sr. No.121, Plot No.1 to 6, At& Po. Padavala Road,, Opp. Eaterflow Piping System,, Veraval Shapar, Lodhika, Rajkot, Gujarat, 360024
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Including GST) | 6.08 |
| Part Funding of working capital requirements | 5.00 |
| General Corporate Purpose | - |
Resources & Documents
Advance Technoforge IPO - Quick Take
Advance Technoforge has fixed the issue price at Rs 95 per share for an issue size of Rs 24 crore. The stock listed with a 1.05% discount versus its issue price on August 03, 2026.
The issue is promoted by Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya and Kajal Alpesbhai Moliya with Sun Capital Advisory Services Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Inclu… (Rs 6 crore) and part Funding of working capital requirements (Rs 5 crore).
On fundamentals, the company is posting revenue growth of -0.8%, a profit margin of 8.0%, return on equity of 30.3% in its most recent reported period. Listed peers in this segment include Tirupati Forge Limited (P/E 93.56x) and Forge Auto International Limited (P/E 9.39x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Advance Technoforge IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 4.2%. Of the 50 SME IPOs we have tracked with a final GMP under 10%, 19 listed above, 12 flat and 19 below the issue price; Advance Technoforge listed 1.1% below its issue price.
See the full Advance Technoforge GMP history and trend, or learn how grey market premium works and how reliable it is.
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