Advance Technoforge IPO is a Fixed Price SME public issue introduced by Advance Technoforge Limited. The issue comprises only a fresh issue of equity shares, with no Offer for Sale (OFS) by existing shareholders. Through this public issue, the company plans to raise funds to strengthen its manufacturing infrastructure, support working capital requirements, and meet general corporate purposes. Upon completion of the IPO process, the company’s equity shares are proposed to be listed on the BSE SME platform.
Advance Technoforge Limited is engaged in the manufacturing of forged and precision-machined engineering components used across multiple industries. The company supplies its products to customers operating in sectors such as automotive, agriculture, construction equipment, industrial machinery, railways, and engineering. Its manufacturing operations combine forging and machining capabilities, enabling the company to deliver products that meet customer-specific technical and quality requirements.
The company’s production process covers every major stage of manufacturing, including procurement of raw materials, forging, heat treatment, machining, inspection, finishing, and dispatch of finished components. By carrying out these activities through an integrated manufacturing setup, the company aims to maintain consistent product quality, improve production efficiency, and ensure timely delivery to its customers. Continuous investment in manufacturing technology and operational improvements also supports its long-term growth plans.
India’s forging and precision engineering industry continues to benefit from increasing demand generated by the automotive, infrastructure, railway, capital goods, and industrial equipment sectors. Government initiatives encouraging domestic manufacturing, industrial expansion, and exports are expected to create additional opportunities for companies engaged in the production of engineering and forged components.
As the IPO is currently open for subscription, investors should carefully assess the company’s financial performance, manufacturing capabilities, customer relationships, industry outlook, valuation, and long-term business strategy before making an investment decision.
Advance Technoforge IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Advance Technoforge IPO |
| Company Name | Advance Technoforge Limited |
| IPO Type | Fixed Price Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹95 Per Share |
| Issue Size | ₹24.03 Crore |
| Fresh Issue | 25,30,000 Equity Shares |
| Offer for Sale | Nil |
| Total Shares Offered | 25,30,000 Equity Shares |
| IPO Open Date | 27 July 2026 |
| IPO Close Date | 29 July 2026 |
| Basis of Allotment | 30 July 2026 |
| Refund Initiation | 31 July 2026 |
| Shares Credited to Demat Account | 31 July 2026 |
| Listing Date | 3 August 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Equity Shares |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Jawa Capital Services Private Limited |
The IPO consists entirely of a fresh issue of equity shares. According to the issue documents, the company intends to utilise the net proceeds for the purchase of additional machinery, meeting working capital requirements, and other general corporate purposes that support future operational growth.
Advance Technoforge IPO Dates
The table below highlights the important dates associated with the Advance Technoforge IPO.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 27 July 2026 |
| IPO Closing Date | 29 July 2026 |
| Basis of Allotment | 30 July 2026 |
| Refund Initiation | 31 July 2026 |
| Shares Credited to Demat Account | 31 July 2026 |
| Listing Date | 3 August 2026 |
Once the basis of allotment is finalised, successful applicants will receive the allotted equity shares in their demat accounts before the company commences trading on the BSE SME platform.
Advance Technoforge IPO Reservation
The public issue has been allocated among different investor categories in accordance with the applicable regulations governing SME public issues.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Non-Institutional Investors (NII) | 50% |
| Retail Individual Investors (RII) | 50% |
The final allocation under each investor category will depend on the total number of valid applications received during the subscription period.
Advance Technoforge IPO Lot Size
Investors are required to apply in the prescribed lot size specified for the public issue.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (2,400 Shares) | ₹2,28,000 |
| Retail Maximum | 2 Lots (2,400 Shares) | ₹2,28,000 |
| HNI Minimum | 3 Lots (3,600 Shares) | ₹3,42,000 |
The application amount shown above is calculated using the fixed issue price of ₹95 per equity share. As the minimum application value for retail investors exceeds ₹2 lakh, applications are required to follow the bidding requirements applicable to SME IPOs.
About Advance Technoforge Limited
Advance Technoforge Limited is a precision engineering company engaged in the manufacturing of forged and machined components used in a wide range of industrial applications. The company manufactures closed-die forgings and value-added machined products that are supplied to customers operating in industries such as automotive, railways, agriculture, construction equipment, industrial machinery, and engineering. Its manufacturing capabilities are supported by an integrated production facility equipped with modern forging and machining infrastructure.
The company focuses on delivering products that meet customer specifications for quality, precision, and performance. By integrating multiple stages of production under one roof, it maintains better control over manufacturing quality, production timelines, and operational efficiency. The company also works closely with customers to develop customised engineering solutions that address specific application requirements.
Advance Technoforge Limited continues to strengthen its manufacturing capabilities by upgrading machinery, improving production processes, and expanding customer relationships. Its emphasis on quality management, operational efficiency, and long-term business partnerships supports its strategy for sustainable growth in the precision engineering industry.
Business Operations
Advance Technoforge Limited operates an integrated manufacturing business that manages the complete production process from raw material procurement to finished component delivery.
- Closed-Die Forging Manufacturing – The company manufactures forged components using closed-die forging processes for various industrial applications requiring high strength and precision.
- Precision Machining Services – In addition to forging, the company performs machining operations to produce finished components according to customer specifications.
- Heat Treatment Process – Heat treatment facilities help enhance the mechanical properties, durability, and performance of forged products.
- Quality Inspection & Testing – Products undergo inspection and quality checks throughout the manufacturing process to ensure compliance with customer and industry standards.
- Tooling & Die Development – The company develops and maintains forging dies and tooling required for efficient production of customised components.
- Integrated Manufacturing Operations – Forging, machining, finishing, inspection, and dispatch are carried out through a coordinated manufacturing process that improves operational efficiency.
- Supply to Multiple Industries – The company supplies engineered components to customers across automotive, agriculture, railways, construction equipment, industrial machinery, and engineering sectors.
- Customer-Focused Manufacturing – Products are manufactured according to customer drawings, technical specifications, and application requirements, supporting long-term business relationships.
Industry Overview
India’s forging and precision engineering industry plays an important role in supporting the country’s manufacturing sector. Forged components are widely used across industries including automobiles, commercial vehicles, railways, agriculture, defence, aerospace, construction equipment, oil & gas, and industrial machinery. Increasing industrialisation and infrastructure development continue to drive demand for high-quality engineering components.
The Indian government’s focus on domestic manufacturing through initiatives such as Make in India, Production Linked Incentive (PLI) schemes, infrastructure investment, and export promotion has created favourable growth opportunities for engineering and forging companies. Rising demand from both domestic and international markets is encouraging manufacturers to expand production capacity and improve manufacturing technology.
Growing adoption of automation, precision engineering, advanced manufacturing techniques, and quality certification standards is further strengthening the competitiveness of Indian forging companies. Businesses with integrated manufacturing facilities, diversified customer bases, and strong quality systems are well positioned to benefit from long-term industry growth.
Business Strategy
Advance Technoforge Limited aims to strengthen its position in the precision engineering industry by expanding manufacturing capacity, improving operational efficiency, and increasing its presence across existing and new customer segments.
The company intends to invest in additional machinery and manufacturing infrastructure to enhance production capabilities while meeting growing customer demand. It also focuses on improving process efficiency, reducing production lead time, and maintaining consistent product quality through continuous technological upgrades.
Another key strategic objective is to expand relationships with existing customers while acquiring new business opportunities across industries such as automotive, industrial engineering, railways, agriculture, and construction equipment. The company also plans to increase its value-added machining capabilities to strengthen its product offerings.
By combining integrated manufacturing operations, modern production facilities, experienced technical expertise, and customer-focused engineering solutions, Advance Technoforge Limited aims to achieve sustainable long-term growth while strengthening its position in India’s expanding forging and precision engineering industry.
Advance Technoforge IPO Financial Information
Evaluating a company’s financial performance helps investors understand its business growth, profitability, operational efficiency, and overall financial position. Reviewing financial data over multiple years provides better insight into the company’s ability to generate sustainable earnings and support future expansion.
Advance Technoforge Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹96.84 Crore | ₹118.37 Crore | ₹146.92 Crore |
| Total Income | ₹97.21 Crore | ₹119.14 Crore | ₹147.68 Crore |
| EBITDA | ₹12.76 Crore | ₹16.08 Crore | ₹21.43 Crore |
| Profit Before Tax (PBT) | ₹7.94 Crore | ₹10.63 Crore | ₹14.81 Crore |
| Profit After Tax (PAT) | ₹5.89 Crore | ₹7.92 Crore | ₹11.18 Crore |
| Net Worth | ₹28.54 Crore | ₹36.42 Crore | ₹47.61 Crore |
| Total Borrowings | ₹21.73 Crore | ₹24.58 Crore | ₹27.16 Crore |
The company has reported consistent growth in revenue and profitability during the last three financial years. Expansion in manufacturing activities, improved production efficiency, and increasing customer demand have contributed to the improvement in earnings. Investors should analyse these financial results together with the company’s valuation, manufacturing capabilities, and long-term business strategy before making an investment decision.
Advance Technoforge IPO Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs) provide additional insight into a company’s profitability, capital utilisation, operational efficiency, and financial strength. These ratios help investors evaluate the company’s overall performance and compare it with businesses operating in the same industry.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 26.84% |
| Return on Capital Employed (ROCE) | 24.17% |
| Return on Net Worth (RONW) | 23.48% |
| EBITDA Margin | 14.51% |
| PAT Margin | 7.57% |
| Debt-to-Equity Ratio | 0.57 |
| Earnings Per Share (EPS) | ₹8.34 |
| Net Asset Value (NAV) Per Share | ₹35.49 |
| Price to Earnings (P/E) | 11.39x |
The company’s financial indicators reflect improving profitability, healthy operating margins, and efficient utilisation of shareholders’ funds. A moderate debt level and consistent earnings growth further strengthen its financial profile. Investors should consider these KPIs along with industry trends, customer concentration, and future expansion plans before making an investment decision.
Objects of the Advance Technoforge IPO
According to the issue document, the company proposes to utilise the net proceeds from the fresh issue for the following purposes:
- Purchase and installation of additional plant and machinery.
- Meeting incremental working capital requirements.
- Funding general corporate purposes.
- Meeting issue-related expenses.
The proposed utilisation of the IPO proceeds is expected to strengthen the company’s manufacturing capacity, improve production efficiency, support higher working capital requirements, and enhance overall operational capabilities. These investments are intended to support future business growth while improving the company’s ability to serve existing and prospective customers.
Advance Technoforge IPO Listing Performance
The listing performance of an IPO indicates how the stock performs on its first day of trading. Since Advance Technoforge IPO is currently open for subscription and has not yet been listed, the listing details are not available at this stage. These details will be updated after the company’s shares are listed on the BSE SME platform.
| Particular | Details |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 3 August 2026 (Expected) |
| Issue Price | ₹95 Per Share |
| Listing Price | Yet to be Announced |
| Listing Gain | Yet to be Announced |
| Listing Gain (%) | Yet to be Announced |
The actual listing price and listing gain will depend on market conditions, investor demand, and overall sentiment on the listing day. Investors should focus on the company’s long-term fundamentals rather than short-term listing performance.
Advance Technoforge IPO Subscription Status
The subscription status reflects investor participation during the IPO bidding period. Since the issue is currently open, the subscription figures will continue to change until the closure of the public issue.
Advance Technoforge IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Non-Institutional Investors (NII) | Yet to be Updated |
| Retail Individual Investors (RII) | Yet to be Updated |
| Total Subscription | Yet to be Updated |
The final subscription figures will be available after the IPO closes. Investors may track the latest subscription data through the official BSE website and the registrar’s portal.
Advance Technoforge IPO Review
Advance Technoforge Limited operates in the precision engineering and forging industry, manufacturing forged and machined components for customers across automotive, agriculture, railways, construction equipment, industrial machinery, and engineering sectors. The company has developed an integrated manufacturing process covering forging, machining, heat treatment, quality inspection, and finishing, enabling it to deliver components that meet customer specifications.
Its business benefits from an established manufacturing infrastructure, diversified industry presence, integrated production facilities, and an experienced management team. The company also stands to benefit from increasing demand for precision-engineered components, government support for domestic manufacturing, and continued growth in infrastructure and industrial sectors.
However, investors should also consider factors such as dependence on industrial demand, fluctuations in raw material prices, customer concentration, working capital requirements, competition within the forging industry, and changes in economic conditions, as these may affect future business performance.
Overall, Advance Technoforge Limited operates in an industry with favourable long-term growth prospects. Before investing, investors should evaluate the company’s financial performance, manufacturing capabilities, valuation, competitive position, and future expansion strategy along with the risks associated with the business.
Advance Technoforge IPO Strengths
Advance Technoforge Limited has developed its business around manufacturing excellence, product quality, and long-term customer relationships. Some of its key strengths include:
- Integrated Manufacturing Facility – The company carries out forging, machining, heat treatment, inspection, and finishing through an integrated production setup, improving operational efficiency and quality control.
- Diversified End-User Industries – Its products are supplied to customers across automotive, railways, agriculture, construction equipment, industrial machinery, and engineering sectors, reducing dependence on a single industry.
- Precision Engineering Capabilities – The company manufactures customised forged and machined components designed to meet specific customer and application requirements.
- Strong Manufacturing Infrastructure – Modern machinery and production facilities support consistent manufacturing quality and timely execution of customer orders.
- Experienced Management Team – The promoters and management possess technical and industry experience that supports business expansion and operational improvements.
- Favourable Industry Growth – Rising demand from manufacturing, infrastructure, railways, and industrial sectors provides long-term growth opportunities for the company.
Advance Technoforge IPO Risk Factors
Like other companies operating in the engineering and manufacturing sector, Advance Technoforge Limited faces several business and industry-related risks that investors should evaluate carefully.
- Dependence on Manufacturing Industries – Demand for the company’s products is closely linked to the performance of automotive, engineering, infrastructure, and industrial sectors. A slowdown in these industries could impact business growth.
- Raw Material Price Fluctuations – Changes in steel and other raw material prices may affect manufacturing costs and profit margins.
- Working Capital Intensive Operations – Manufacturing activities require continuous investment in inventory, receivables, and production processes, making efficient working capital management essential.
- Customer Concentration Risk – Dependence on a limited number of key customers could affect revenue if customer demand declines or business relationships change.
- Competitive Industry – The forging and precision engineering industry includes several organised manufacturers, resulting in pricing pressure and intense competition.
- Regulatory & Compliance Risk – The company must comply with various environmental, labour, safety, and industrial regulations. Any adverse regulatory changes may affect operational efficiency.
Before making an investment decision, investors should carefully analyse these strengths and risks together with the company’s financial performance, valuation, operational capabilities, and long-term growth strategy.
Advance Technoforge IPO Promoters
Advance Technoforge Limited is promoted by experienced professionals associated with the precision engineering and manufacturing industry. The promoters have played an important role in establishing the company’s manufacturing operations, expanding production capabilities, and strengthening customer relationships across multiple industrial sectors. Their focus continues to remain on capacity expansion, operational efficiency, product quality, and sustainable business growth.
Advance Technoforge IPO Promoters Details
| Promoter | Designation |
|---|---|
| Mr. Vijaykumar Vishwanath Patil | Promoter & Managing Director |
| Mrs. Sunita Vijaykumar Patil | Promoter & Director |
Advance Technoforge IPO Management Team
The company is managed by professionals with experience in manufacturing, engineering, finance, production management, and corporate governance. The management team is responsible for overseeing business operations, production planning, quality assurance, finance, compliance, and future growth initiatives.
| Name | Designation |
|---|---|
| Vijaykumar Vishwanath Patil | Managing Director |
| Sunita Vijaykumar Patil | Director |
| Sandeep Patil | Chief Financial Officer |
| Prajakta Patil | Company Secretary & Compliance Officer |
Advance Technoforge IPO Registrar Details
The registrar to the issue is responsible for processing IPO applications, finalising the basis of allotment, initiating refunds, crediting equity shares to successful applicants’ demat accounts, and addressing investor-related queries throughout the IPO process.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com |
| IPO Allotment Status | https://kosmic.kfintech.com/ipostatus |
| Email ID | [email protected] |
| Contact Number | +91-40-6716 2222 |
Advance Technoforge IPO Lead Manager Details
The Book Running Lead Manager manages the overall public issue process, assists the company in regulatory compliance, coordinates with market intermediaries, and facilitates the successful completion of the IPO.
| Particular | Details |
|---|---|
| Lead Manager | Jawa Capital Services Private Limited |
| Website | https://www.jawacapital.com |
| Email ID | [email protected] |
| Contact Number | +91-22-4609 0939 |
Advance Technoforge Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Advance Technoforge Limited |
| Registered Office | Pune, Maharashtra, India |
| Website | https://www.advancetechforge.com |
| Email ID | [email protected] |
How to Check Advance Technoforge IPO Allotment Status
Investors who apply for the IPO will be able to check their allotment status after the basis of allotment is finalised. The allotment details can be accessed through the registrar’s official website as well as the BSE IPO portal.
Through KFin Technologies Limited
- Visit the official IPO allotment portal of KFin Technologies Limited.
- Select Advance Technoforge IPO from the available IPO list.
- Choose any one of the available search options such as Application Number, PAN, or DP/Client ID.
- Enter the required details correctly.
- Click on Submit to view your allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Advance Technoforge IPO from the available issue list.
- Enter your Application Number, PAN, or DP/Client ID.
- Complete the verification process, if applicable.
- Click on Search to check your allotment status.
Frequently Asked Questions (FAQs)
What is Advance Technoforge IPO?
Advance Technoforge IPO is a Fixed Price SME public issue comprising only a fresh issue of equity shares.
What is the issue price of the Advance Technoforge IPO?
The IPO is offered at a fixed issue price of ₹95 per equity share.
What is the total issue size of the Advance Technoforge IPO?
The total issue size is ₹24.03 crore.
When will the Advance Technoforge IPO open and close?
The IPO will open on 27 July 2026 and close on 29 July 2026.
Where will Advance Technoforge shares be listed?
The company’s equity shares are proposed to be listed on the BSE SME platform.
Who is the registrar for the Advance Technoforge IPO?
KFin Technologies Limited is the registrar to the issue.
Who is the Book Running Lead Manager for the Advance Technoforge IPO?
Jawa Capital Services Private Limited is the Book Running Lead Manager.
What is the minimum lot size for the Advance Technoforge IPO?
The minimum application size is 2 lots comprising 2,400 equity shares.
What does Advance Technoforge Limited do?
The company manufactures forged and precision-machined engineering components used across industries such as automotive, railways, agriculture, construction equipment, industrial machinery, and engineering.
What are the objects of the Advance Technoforge IPO?
The company intends to utilise the IPO proceeds for purchasing plant and machinery, meeting working capital requirements, funding general corporate purposes, and meeting issue-related expenses.
