The Metalic Technoforge IPO commenced on Tuesday, 21 July 2026, with the issue priced at ₹72-77 per share and a face value of ₹10 per share. According to reports from Moneycontrol, the IPO will conclude on Thursday, 23 July 2026. As of the first day of trading, the issue has achieved a 33% subscription rate, with investors placing bids for 15.39 lakh equity shares against the total 46.48 lakh shares on offer via 423 applications. The retail portion showed stronger demand at 29% subscription compared to the non-institutional investor (NII) portion at 59% subscription, while qualified institutional buyers have not yet submitted bids.
On July 20, the company successfully mobilized ₹14.16 crore by issuing 18.4 lakh shares to seven anchor investors including Aarth AIF Growth Fund, India Equity Fund, Brescon Opportunities Fund, and Tiger Strategies Fund. The IPO represents a completely fresh issue of 64.88 lakh equity shares, aggregating to approximately ₹50 crore at the upper price band. As reported by Moneycontrol, the company will receive the entire proceeds from the issue as there is no offer for sale (OFS) component. The management plans to utilize ₹30.8 crore from the net proceeds to establish the proposed Manufacturing Unit IV and upgrade existing facilities at its Rajkot manufacturing plant. Additionally, ₹6.72 crore has been earmarked for repayment or prepayment of certain borrowings, with the remaining funds allocated for general corporate purposes. Smart Horizon Capital Advisors serves as the book-running lead manager to the issue.
Established in 2016, Metalic Technoforge specializes in producing closed-die forgings and precision-machined components including rings, ball studs, gears, and coupling assemblies. According to Moneycontrol, the company serves both domestic and international original equipment manufacturers across sectors such as automotive, agricultural equipment, hydraulics, construction machinery, and general engineering. The company currently operates three manufacturing facilities with specialized functions: Unit I handles forging, heat treatment, shot blasting and quality control; Unit II is equipped with machining shop, finished product storage, packaging and dispatch facilities; and Unit III is primarily utilized for raw material storage, cutting, die manufacturing and tooling shop. Incorporated in 2016, the company manufactures closed die forged and precision machined components products like rings, ball studs, gears, coupling assemblies and other critical components for original equipment manufacturers (OEMs) across automotive and non-automotive industries such as agricultural, hydraulic, construction machinery and general engineering products.
The Metalic Technoforge IPO grey market premium (GMP) stands at ₹0, indicating shares are trading at the issue price of ₹77 with no premium or discount in the unofficial market. As reported by investorgain.com, this neutral GMP suggests investor sentiment remains balanced ahead of the official listing. The company's equity shares are proposed for listing on the NSE Emerge platform, with a tentative listing date of 28 July 2026.
