The Advance Technoforge IPO officially launched on Monday, July 27, 2026, with the ₹24.03 crore fixed-price issue receiving 23% subscription on its opening day. According to Moneycontrol, the issue comprises 25.29 lakh shares at ₹95 per share, with bids received for 6.01 lakh shares against the total offer. The fixed price issue will close on Wednesday, July 29, 2026, with the company's shares proposed to be listed on the BSE SME platform with a tentative listing date of Monday, August 3, 2026. Investors require a minimum application of 1,200 shares (2,400 shares) at ₹2,28,000 investment, with the grey market premium standing at 9.47% indicating an estimated listing price of ₹104 per share.
The Advance Technoforge IPO is a fixed-price issue worth ₹24.03 crore comprising 25.29 lakh shares at a fixed price of ₹95 per share. As reported by The Economic Times, investors can apply for a minimum lot size of 1,200 shares, requiring a minimum investment of ₹2,28,000 for 2,400 shares. The Gujarat-based machinery components manufacturer, established in 2013, manufactures forged and precision-machined components with specialized coatings and treatments for automotive, valves, pumps, construction, oil and gas, railway, and earth-moving equipment sectors. Sun Capital Advisory Services Pvt. Ltd. serves as the sole book running lead manager while Kfin Technologies Ltd. acts as the registrar. The company reported revenue from operations of ₹50.04 crore and profit after tax (PAT) of ₹4.06 crore in FY26, with 205 employees across manufacturing and other business functions as of June 30, 2026.
The ₹24.03 crore proceeds will be utilized primarily for business expansion and financial strengthening, with ₹7.19 crore allocated for machinery purchase and installation for manufacturing precision machined components at the existing facility, ₹7.25 crore for working capital requirements, ₹2.40 crore for loan repayment, ₹3.59 crore for general corporate purposes, and ₹3.60 crore for issue-related expenses. As reported by Moneycontrol, Nilesh Shambhubhai Moliya, Managing Director of Advance Technoforge Ltd, stated that the IPO proceeds will enable the company to enhance manufacturing capabilities through addition of new machinery and strengthen working capital. The ₹24.03 crore proceeds will be utilized primarily for business expansion and financial strengthening, with ₹7.19 crore allocated for machinery purchase and installation, ₹7.25 crore for working capital requirements, ₹2.40 crore for borrowing repayment, ₹3.59 crore for general corporate purposes, and ₹3.60 crore for issue-related expenses.
The Advance Technoforge IPO represents a significant fundraising initiative for the Gujarat-based machinery components manufacturer, with the 23% subscription on opening day indicating initial market interest. The company operates an integrated manufacturing facility equipped with forging, machining and finishing capabilities, enabling delivery of value-added products that meet stringent quality standards. The promoter and promoter shareholding will dilute to 71.99% from 100% pre-IPO, with 1,29,600 equity shares reserved for subscription by market makers. The company's equity shares will list on BSE's SME platform, providing investors with access to a specialized machinery components manufacturer serving diverse industrial sectors.
