Metalic Technoforge IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.48x | 4.58x |
| NII | 0.29x | 0.98x | 17.42x |
| bNII > ₹10L | 0.22x | 1.03x | 21.32x |
| sNII 2-10L | 0.42x | 0.89x | 9.64x |
| Retail | 0.59x | 1.15x | 6.98x |
| Total | 0.33x | 0.86x | 8.54x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 47.13 | 51.50 | 75.64 | 97.98 |
| Expense | 45.39 | 45.58 | 63.05 | 80.35 |
| Profit (PAT) | 1.26 | 4.26 | 9.03 | 12.36 |
| Total Assets | 21.23 | 33.67 | 65.10 | 92.09 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV |
|---|---|---|---|---|
| Metalic Technoforge This IPO | 7.12 | - | 37.00 | 19.10 |
| Amic Forging Limited | 26.78 | 66.91 | 13.31 | 197.60 |
| Tirupati Forge Limited | 0.51 | 135.43 | 4.72 | 10.53 |
| Paramount Speciality Forgings Limited | 2.16 | 14.93 | 7.57 | 28.57 |
Promoters & Holding Pattern
Promoters: Mr. Gajipara Keyur Dhirajlal, Mr. Trambadiya Dhaval Vrajlal, Mr. Vadodariya Satish Rameshbhai, Mr. Kapadiya Vipul K, Mr. Rupapara Jay Rameshbahi, Mr. Gajipara Ronakkumar Mansukhbhai, and Ms. Ekta Satish Vadodariya
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,74,96,400 | 83.62% |
| Promoter Holding Post Issue | 2,39,84,400 | 61.00% |
Strengths & Risks
- Strong institutional (QIB) demand — 4.6x.
- Revenue grew 30% in the latest reported year.
- Solid profit margin — 12.6%.
- Strong return on equity — 49%.
- 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 Metalic Technoforge
Metalic Technoforge Ltd., founded in October 2016, is one of the leading manufacturers of closed-die forged and precision machined components. Its product range comprises safety-critical forged and precision-machined products, including big and small rings, ball studs, gear blanks with broaching, gears, coupling assemblies, and other critical components. Its products cater to national and international OEMs in various automotive and non-automotive sectors. In automotive OEMs, it includes automobiles, tractors, and commercial vehicles. Non-automotive OEMs include manufacturers of agricultural equipment, hydraulic equipment, construction machinery, and general engineering products. Its manufacturing facility is located in Rajkot, Gujarat. As of 2026, Metallic Technoforge had an order book of ₹2,447.06 lakhs.
Company Contact Information
Metalic Technoforge Ltd., Sr. No.-129/1 P4(New Survey no. 296), Plot No.-5&6, Padavala Main Road, Opp. Electric Power House, Kot, VillagePadavala, Veraval (Shapar), Kotda Sanghani, Rajkot, Gujarat, 360024
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| 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 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company. | 6.72 |
| General Corporate Purpose | - |
Resources & Documents
Anchor Investors
Metalic Technoforge IPO - Quick Take
Metalic Technoforge has set a price band of Rs 72–Rs 77 per share for an issue size of Rs 50 crore. The stock listed with a 12.99% gain versus its issue price on July 28, 2026.
The issue is promoted by Mr. Gajipara Keyur Dhirajlal, Mr. Trambadiya Dhaval Vrajlal, Mr. Vadodariya Satish Rameshbhai, Mr. Kapadiya Vipul K, Mr. Rupapara Jay Rameshbahi, Mr. Gajipara Ronakkumar Mansukhbhai, and Ms. Ekta Sati… with Smart Horizon Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards funding of capital expenditure requirements of the Company towards setting up of the proposed Manufacturing Unit IV and… (Rs 31 crore) and full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company (Rs 7 crore).
On fundamentals, the company is posting revenue growth of 29.5%, a profit margin of 12.6%, return on equity of 48.7% in its most recent reported period. Listed peers in this segment include Amic Forging Limited (P/E 66.91x) and Tirupati Forge Limited (P/E 135.43x) — 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 mixed — some indicators read positively and others do not. 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
Metalic 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 7.8%. Of the 47 SME IPOs we have tracked with a final GMP under 10%, 18 listed above, 10 flat and 19 below the issue price; Metalic Technoforge listed 13% above its issue price.
See the full Metalic Technoforge GMP history and trend, or learn how grey market premium works and how reliable it is.
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