Metalic Technoforge IPO is the upcoming NSE SME public issue of Metalic Technoforge Limited, a precision engineering company engaged in the manufacturing of forged and precision-machined metal components. The company develops engineering products that are supplied to customers operating in sectors such as automotive, agriculture, construction equipment, industrial machinery, railways, and other engineering industries.
The company operates an integrated manufacturing facility equipped with forging, machining, heat treatment, finishing, inspection, and quality control capabilities. This integrated manufacturing process helps maintain product consistency while supporting efficient production and timely deliveries.
Metalic Technoforge manufactures a wide variety of engineered metal components using different grades of steel and other alloys based on customer specifications. Its focus on quality, manufacturing efficiency, and precision engineering enables the company to cater to the requirements of both domestic and international customers.
Growing investments in manufacturing, infrastructure development, industrial automation, automotive production, and engineering industries continue to support demand for precision-forged components. However, investors should carefully evaluate the company’s financial performance, business strategy, valuation, industry outlook, and associated risks before making an investment decision.
This article provides complete information about the Metalic Technoforge IPO, including IPO details, issue dates, reservation, lot size, subscription status, GMP, allotment process, listing performance, company profile, financial information, strengths, risks, registrar details, conclusion, and frequently asked questions.
Metalic Technoforge IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Metalic Technoforge IPO |
| Company Name | Metalic Technoforge Limited |
| IPO Status | Upcoming |
| IPO Type | Book Built Issue |
| Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹72 to ₹77 Per Share |
| Issue Size | ₹49.96 Crore |
| Fresh Issue | 64,88,000 Equity Shares |
| Offer for Sale | Nil |
| IPO Open Date | 21 July 2026 |
| IPO Close Date | 23 July 2026 |
| Basis of Allotment | 24 July 2026 |
| Refund Initiation | 27 July 2026 |
| Shares Credited to Demat | 27 July 2026 |
| Listing Date | 28 July 2026 |
| Listing Exchange | NSE SME |
| Lot Size | 1,600 Shares |
| Minimum Investment | ₹1,23,200 |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Smart Horizon Capital Advisors Private Limited |
The IPO consists entirely of a fresh issue of 64,88,000 equity shares with no Offer for Sale component. The company proposes to utilize the funds raised from the public issue primarily for capital expenditure, working capital requirements, and general corporate purposes to support future business expansion and operational growth.
Metalic Technoforge IPO Dates & Timeline
The Metalic Technoforge IPO follows the standard process for an NSE SME book-built public issue. After the subscription period ends, the registrar will finalize the basis of allotment, process refunds for unsuccessful applicants, credit shares to successful investors’ demat accounts, and complete the listing process on the stock exchange.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 21 July 2026 |
| IPO Closing Date | 23 July 2026 |
| Basis of Allotment | 24 July 2026 |
| Initiation of Refunds | 27 July 2026 |
| Credit of Shares to Demat Account | 27 July 2026 |
| Listing Date | 28 July 2026 |
Following the closure of the issue, eligible applications will be processed before the allotment is finalized. Shares allotted to successful applicants will be credited to their demat accounts before listing, while refunds will be initiated for unsuccessful applicants.
Metalic Technoforge IPO Reservation
The Metalic Technoforge IPO follows the reservation structure applicable to SME book-built public issues.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% of the Net Issue |
| Non-Institutional Investors (NII) | Not Less Than 15% of the Net Issue |
| Retail Individual Investors (RII) | Not Less Than 35% of the Net Issue |
| Market Maker | 3,25,600 Equity Shares |
| Employee Reservation | Nil |
The final allotment under each investor category will be completed in accordance with the applicable regulations after the subscription period closes.
Metalic Technoforge IPO Lot Size
The lot size represents the minimum number of shares that an investor must apply for in the IPO. Applications must be submitted in multiples of the prescribed lot size.
| Application Category | Shares | Investment Amount |
|---|---|---|
| Retail (Minimum) | 1,600 | ₹1,23,200 |
| Retail (Maximum) | 1,600 | ₹1,23,200 |
| HNI (Minimum) | 3,200 | ₹2,46,400 |
Retail investors can apply for only one lot under the retail category. Applications exceeding the retail investment limit will be considered under the Non-Institutional Investor (NII) category.
Metalic Technoforge IPO Promoter Holding
The promoter shareholding before and after the public issue is as follows:
| Shareholding | Percentage |
|---|---|
| Promoter Holding Before IPO | 95.73% |
| Promoter Holding After IPO | 69.97% |
The reduction in promoter shareholding after the IPO is due to the issuance of fresh equity shares. However, the promoters will continue to hold a majority stake in the company after the public issue.
Metalic Technoforge IPO GMP
The Grey Market Premium (GMP) indicates the unofficial premium at which IPO shares may trade before listing. GMP changes frequently based on investor sentiment and market conditions.
| Date | IPO Price | GMP | Estimated Listing Price | Estimated Gain |
|---|---|---|---|---|
| Latest GMP | ₹77 | Yet to be Updated | Yet to be Updated | Yet to be Updated |
The GMP is an unofficial market indicator and should not be considered the sole basis for an investment decision. Investors should also evaluate the company’s business fundamentals, financial performance, and valuation before applying for the IPO.
Metalic Technoforge IPO Subscription Status
The Metalic Technoforge IPO will remain open for subscription from 21 July 2026 to 23 July 2026. During the subscription period, investor participation across different categories will be updated regularly.
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Yet to Open |
| Non-Institutional Investors (NII) | Yet to Open |
| Retail Individual Investors (RII) | Yet to Open |
| Total Subscription | Yet to Open |
The subscription data will be updated after the IPO opens and bidding begins across all investor categories.
Metalic Technoforge IPO Allotment Status
The allotment process will begin after the IPO subscription closes. Once the registrar finalizes the basis of allotment, applicants will be able to check their allotment status online.
| Particular | Details |
|---|---|
| IPO Closing Date | 23 July 2026 |
| Basis of Allotment | 24 July 2026 |
| Refund Initiation | 27 July 2026 |
| Shares Credited to Demat Account | 27 July 2026 |
| Registrar | Bigshare Services Private Limited |
| Allotment Status | Yet to be Finalized |
Successful applicants will receive the allotted shares in their demat accounts before the listing date, while refunds will be processed for applicants who do not receive an allotment.
Metalic Technoforge IPO Listing Performance
The equity shares of Metalic Technoforge Limited are proposed to be listed on the NSE SME platform. Since the IPO has not yet been listed, the listing performance will be available after trading commences.
| Particular | Details |
|---|---|
| IPO Price | ₹77 |
| NSE SME Listing Price | Yet to be Listed |
| Listing Gain/Loss | Yet to be Listed |
| Closing Price (Listing Day) | Yet to be Listed |
| Listing Day Return | Yet to be Listed |
The listing performance will depend on investor demand, overall market sentiment, and trading activity on the listing day. The table will be updated once the shares begin trading on the NSE SME platform.
About Metalic Technoforge Limited
Metalic Technoforge Limited is a precision engineering company engaged in manufacturing forged and precision-machined metal components for a wide range of industrial applications. The company serves customers operating in industries such as automotive, agriculture, construction equipment, railways, industrial machinery, and general engineering.
Its manufacturing operations include closed-die forging, machining, heat treatment, shot blasting, surface finishing, inspection, and quality testing. By carrying out multiple production processes within its own facilities, the company maintains greater control over product quality, manufacturing efficiency, and delivery schedules.
Metalic Technoforge produces components in various grades of carbon steel, alloy steel, stainless steel, and other metals based on customer specifications. The company focuses on manufacturing products that meet stringent quality standards while addressing the specific requirements of different industrial sectors.
Business Model of Metalic Technoforge Limited
Metalic Technoforge Limited follows an integrated manufacturing model focused on producing precision-forged and machined components for industrial customers.
The company’s business model is supported by the following key activities:
Manufacturing of Forged Components – The company manufactures forged metal components used in automotive, engineering, agricultural, railway, and industrial applications.
Integrated Production Process – Multiple manufacturing activities, including forging, machining, heat treatment, finishing, inspection, and quality control, are performed within the company’s facilities to ensure consistent product quality.
Customer-Specific Manufacturing – The company manufactures components according to customer drawings, technical specifications, and industry requirements, enabling it to serve diverse engineering applications.
Diversified Industry Presence – Products are supplied to customers across several industries, helping reduce dependence on a single business segment.
Focus on Quality and Operational Efficiency – Continuous emphasis on manufacturing quality, process improvement, and efficient production supports long-term customer relationships and business growth.
Products and Services
Metalic Technoforge Limited manufactures a broad range of forged and precision-machined metal components designed for various engineering applications. The company develops products according to customer specifications and industry standards to meet the performance requirements of different sectors.
Its major products and services include:
- Closed-die forged components.
- Precision-machined metal components.
- Automotive forging components.
- Agricultural equipment components.
- Construction equipment components.
- Railway engineering components.
- Industrial machinery components.
- Carbon steel forged products.
- Alloy steel forged products.
- Stainless steel forged products.
- Heat treatment and surface finishing services.
- Customer-specific engineering solutions.
The company’s diversified product portfolio enables it to serve customers operating across multiple industrial sectors while reducing dependence on a single product category.
Industry Overview
The forging industry plays an important role in supporting manufacturing activities across automotive, agriculture, construction equipment, railways, heavy engineering, industrial machinery, defence, and infrastructure sectors. Forged components are widely used because of their strength, durability, dimensional accuracy, and ability to perform under demanding operating conditions.
Growth in industrial manufacturing, infrastructure development, commercial vehicles, passenger vehicles, railway modernization, and engineering exports continues to create demand for high-quality forged components. At the same time, increasing adoption of advanced manufacturing technologies and precision machining is improving product quality and production efficiency throughout the industry.
Manufacturers with integrated production capabilities, modern machinery, quality assurance systems, and diversified customer relationships are better positioned to benefit from long-term opportunities in the engineering and forging sector.
Metalic Technoforge IPO Financial Information
Metalic Technoforge Limited has reported steady growth in its business operations during the recent financial years. The company’s financial performance reflects growth in revenue and profitability supported by its manufacturing capabilities and expanding customer base.
Statement of Assets, Liabilities and Equity
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Total Assets | 90.47 | 77.64 | 66.15 |
| Total Borrowings | 23.68 | 20.84 | 19.21 |
| Total Liabilities | 35.26 | 31.87 | 29.64 |
| Share Capital | 15.53 | 15.53 | 15.53 |
| Reserves & Surplus | 39.68 | 30.24 | 21.00 |
| Net Worth | 55.21 | 45.77 | 36.53 |
The company’s balance sheet indicates consistent growth in total assets and shareholders’ funds over the reported financial years, reflecting business expansion and improved financial strength.
Statement of Profit and Loss
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue from Operations | 132.84 | 113.92 | 96.51 |
| EBITDA | 20.63 | 16.72 | 13.54 |
| Profit Before Tax (PBT) | 14.76 | 11.24 | 8.93 |
| Profit After Tax (PAT) | 10.94 | 8.36 | 6.61 |
| EBITDA Margin | 15.53% | 14.68% | 14.03% |
| PAT Margin | 8.24% | 7.34% | 6.85% |
The company has reported healthy growth in revenue and earnings during the reported period. The improvement in profitability indicates better operational efficiency and continued growth in manufacturing activities.
Metalic Technoforge IPO Key Financial Ratios
| Financial Ratio | Value |
|---|---|
| Earnings Per Share (EPS) | ₹7.04 |
| Price to Earnings (P/E) Ratio | 10.94x |
| Return on Net Worth (RoNW) | 19.82% |
| Net Asset Value (NAV) | ₹35.55 |
| Return on Capital Employed (ROCE) | 23.67% |
| EBITDA Margin | 15.53% |
| PAT Margin | 8.24% |
| Debt-to-Equity Ratio | 0.43 |
The financial ratios reflect healthy profitability, efficient capital utilization, and a balanced financial position. Investors should consider these indicators together with the company’s business prospects and valuation before making an investment decision.
Objects of the Issue
The company proposes to utilize the net proceeds from the IPO for the following purposes:
- Funding capital expenditure towards the purchase of plant and machinery.
- Meeting working capital requirements.
- Repayment or prepayment of certain borrowings.
- General corporate purposes.
The proposed utilization of the IPO proceeds is intended to strengthen manufacturing capacity, improve operational efficiency, support future business growth, and enhance the company’s overall financial position.
Metalic Technoforge IPO Strengths
Metalic Technoforge Limited has developed manufacturing capabilities in the precision forging industry and serves customers across multiple engineering sectors. Its integrated manufacturing operations and focus on quality support its long-term business growth.
. Integrated Manufacturing Facility – The company carries out forging, machining, heat treatment, surface finishing, inspection, and quality testing within its manufacturing facility. This integrated approach helps maintain product quality, improve operational efficiency, and ensure timely deliveries.
. Diversified Customer Industries – The company supplies forged and precision-machined components to customers operating in automotive, agriculture, construction equipment, railways, industrial machinery, and other engineering sectors. This diversification reduces dependence on any single industry.
. Wide Product Portfolio – Metalic Technoforge manufactures a broad range of forged components using different grades of steel and other alloys to meet varying customer specifications and industrial applications.
. Focus on Product Quality – The company follows established quality control procedures throughout the manufacturing process to ensure that its products meet customer requirements and industry standards.
. Experienced Management Team – The management team has experience in the forging and engineering industry, supporting manufacturing operations, business development, and long-term expansion plans.
. Growing Engineering Industry – Rising investments in infrastructure, manufacturing, industrial automation, transportation, and engineering projects are expected to support long-term demand for forged and precision-engineered components.
Metalic Technoforge IPO Risk Factors
Before investing in the Metalic Technoforge IPO, investors should carefully consider the risks that may affect the company’s future business performance.
. Dependence on Industrial Demand – The company’s business depends on demand from industries such as automotive, construction equipment, agriculture, railways, and industrial engineering. A slowdown in these sectors may affect revenue growth.
. Raw Material Price Fluctuation Risk – Changes in the prices of steel and other raw materials may increase manufacturing costs and impact profit margins if the company is unable to pass on the additional costs to customers.
. Customer Concentration Risk – A significant decline in orders from major customers or the inability to secure new business may adversely affect revenue and profitability.
. Manufacturing and Operational Risk – Business operations rely on uninterrupted manufacturing activities. Machinery breakdowns, labour shortages, power disruptions, or supply chain issues could impact production schedules.
. Intense Industry Competition – The forging and precision engineering industry is highly competitive. Increased competition from domestic and international manufacturers may affect pricing, market share, and operating margins.
. Regulatory Compliance Risk – The company must comply with various environmental, labour, taxation, and industrial regulations. Any changes in regulations or instances of non-compliance could increase operating costs or affect business operations.
Metalic Technoforge IPO Registrar Details
The registrar is responsible for managing IPO applications, finalizing the basis of allotment, initiating refunds, crediting shares to successful applicants’ demat accounts, and handling investor-related queries.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com/ |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Metalic Technoforge IPO Conclusion
Metalic Technoforge IPO offers investors an opportunity to invest in a company engaged in the manufacturing of forged and precision-machined engineering components. The company serves multiple industries through its integrated manufacturing facilities and diversified product portfolio, supported by a focus on quality and operational efficiency.
Its presence across various engineering sectors, combined with expanding manufacturing capabilities and growing demand for precision-forged components, provides opportunities for future business growth. However, investors should also consider factors such as industrial demand, raw material price fluctuations, customer concentration, manufacturing risks, and industry competition before making an investment decision.
A careful assessment of the company’s financial performance, valuation, business strategy, and long-term growth prospects can help investors determine whether the IPO aligns with their investment objectives.
Metalic Technoforge IPO FAQs
What is Metalic Technoforge IPO?
Metalic Technoforge IPO is the NSE SME public issue of Metalic Technoforge Limited, a company engaged in manufacturing forged and precision-machined metal components for various engineering industries.
What is the price band of Metalic Technoforge IPO?
The price band of the Metalic Technoforge IPO is ₹72 to ₹77 per equity share.
What is the issue size of Metalic Technoforge IPO?
The IPO is a fresh issue of 64,88,000 equity shares aggregating to ₹49.96 crore. There is no Offer for Sale in this public issue.
What is the lot size of Metalic Technoforge IPO?
The minimum application size is 1,600 equity shares.
When is the Metalic Technoforge IPO listing date?
The shares of Metalic Technoforge Limited are proposed to be listed on the NSE SME on 28 July 2026.
What is the minimum investment required for Metalic Technoforge IPO?
Retail investors are required to make a minimum investment of ₹1,23,200 for one lot.
Who is the registrar of Metalic Technoforge IPO?
Bigshare Services Private Limited is the registrar for the Metalic Technoforge IPO and is responsible for managing the allotment process, refunds, and credit of shares to investors’ demat accounts.
