Gujarat-based Metalic Technoforge, a forging and precision-machined components manufacturer, will open its maiden public issue for subscription next week with a price band of ₹72-77 per share. According to latest reports, the company is raising nearly ₹50 crore via initial public offering of 64.88 lakh shares at the upper price band. The IPO will open for public subscription between July 21 and July 23, while the anchor book will be launched for a day on July 20. The lot size is set at 1,600 shares with a minimum investment of approximately ₹2.46 lakh at the upper price band, making it accessible to both retail and institutional investors. As per IPO Ji, investors can bid for a minimum of 3,200 shares and in multiples thereof, with the company's equity shares proposed to be listed on the NSE SME platform on July 28.
Incorporated in October 2016, Metalic Technoforge manufactures closed die forged and precision-machined components including rings, ball studs, gears, and coupling assemblies. The company caters to domestic and global original equipment manufacturers across the automotive, farm equipment, hydraulic, construction machinery and general engineering industries. Currently, the company operates its business through three manufacturing units used for forging, heat treatment, shot blasting, quality control, storage of finished products, packaging and dispatch, raw material storage, cutting, die manufacturing and tooling shop. The production facility is located in Rajkot, Gujarat, where the company employed 188 persons as of February 28, 2026. The company's promoters include Gajipara Keyur Dhirajlal, Trambadiya Dhaval Vrajlal, Vadodariya Satish Rameshbhai, Kapadiya Vipul K, Rupapara Jay Rameshbahi, Gajipara Ronakkumar Mansukhbhai and Ekta Satish Vadodariya.
According to the company's IPO filing, Metalic Technoforge intends to spend ₹30.8 crore of proceeds from the net issue for setting up of the proposed manufacturing unit IV and upgradation of existing units at manufacturing facility in Rajkot. The remaining ₹6.72 crore will be utilized for repaying loans, while the rest of the funds will be used for general corporate purposes. As reported by IPO Ji, the funding will cover capital expenditure requirements for setting up the proposed Manufacturing Unit IV and upgradation of existing units at the manufacturing facility in Rajkot, Gujarat, along with full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company.
Smart Horizon Capital Advisors has been appointed as the merchant banker for managing the Metalic Technoforge IPO. According to IPO Ji, this would be the second IPO in the SME segment opening next week after Gulf Lloyds (India). The company's entry into the public markets represents a significant milestone for the Gujarat-based manufacturer in the precision engineering sector. The IPO is priced as a book-built issue with no recorded Grey Market Premium (GMP) currently available. The company's financial performance shows assets of ₹76.56 crore as of March 2025, with revenue of ₹43.22 crore and profit after tax of ₹5.28 crore for the same period. As per IPO Ji, the valuation snapshot shows P/E ratio N/A, EPS ₹/-, P/B ratio N/A, RoNW %, and market cap details.
