AMIC Forging Limited is gearing up for its IPO, scheduled to open on November 29, with plans to raise ₹34.80 crores. The company, a prominent player in the forging industry, specializes in manufacturing precision-machined components tailored to diverse sectors. In the financial year 2023, AMIC Forging reported a substantial revenue of ₹116.83 crores, showcasing a noteworthy growth from ₹71.39 crores in the preceding year, 2022.
The IPO price band has been set between ₹121 and ₹126 per Equity Share, and the company is slated to list on the BSE. The offering, targeted at raising funds through the issuance of 2,762,000 equity shares, has no Offer for Sale (OFS) component, making it a completely fresh issue.
AMIC Forging’s expertise lies in manufacturing various forging components adhering to international standards like AISI, BS, IS, DIN, etc. The product portfolio includes Rounds, Shafts, Blanks, Gear Couplings, Hubs, Flanges, and other engineering spares produced in carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.
The company’s commitment to quality is evident through its integrated processes, incorporating state-of-the-art forging facilities and machining capabilities. With a well-established design centre equipped with the latest 3D software and highly trained technicians, AMIC Forging ensures continuous improvement, upholding high-quality standards and timely delivery.
The IPO subscription window will open on November 29 and close on December 1. Investors can bid for a minimum of 1000 shares and in multiples thereof, with the face value of each equity share at ₹10. The promoters of AMIC Forging Limited are Girdhari Lal Chamaria, Anshul Chamaria, Manju Chamaria, and Rashmi Chamaria.
On December 6, the company is expected to finalize the allocation of shares. December 11 is the tentative listing date on BSE SME. The IPO’s listing will enhance the company’s corporate image and brand name, creating a public market for its equity shares in India.
AMIC Forging Limited has reserved 50% of the shares for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and a minimum of 35% for Retail Investors. The registrar for the IPO is Bigshare Services Pvt Ltd, with Gretex Corporate Services Limited serving as the book-running lead manager. Gretex Share Broking is the market maker for the AMIC Forging IPO.