Forge Auto International IPO Subscription Status

Forge Auto International's initial public offering (IPO) has garnered significant investor interest, with subscription rates increasing steadily over the three-day period. Starting strong on day one, the IPO witnessed a surge in demand, resulting in an 18.69 times oversubscription by 11:48:00 AM on day three. This response underscores the strong market appetite for Forge Auto International's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 26th September 2024, has seen significant growth in investor participation across all categories. Forge Auto International attracted bids for 3,57,98,400 equity shares amounting to ₹386.62 crore.
The Retail Investors segment, in particular, has shown overwhelming demand, followed by strong interest from Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB).

Subscription Status of Forge Auto International IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Here are the subscription details for Forge Auto International IPO as of Day 3 (30th September 2024, 11:48:00 AM):

Total Applications: 22,662

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• The IPO of Forge Auto International is currently subscribed 18.69 times, with exceptional demand from Retail Investors.
• Retail investors have shown overwhelming interest, with a subscription ratio of 28.40 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 11.10 times.
• Qualified Institutional Buyers (QIB) have shown significant interest, with a subscription ratio of 7.40 times.
• The overall subscription trend increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Forge Auto International IPO - Day 2 Subscription at 11.27 Times

Key Highlights:

• On Day 2, Forge Auto International's IPO was subscribed 11.27 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 15.79 times.
• Qualified Institutional Buyers (QIB) maintained their interest with a subscription ratio of 7.40 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 5.87 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Forge Auto International IPO - Day 1 Subscription at 4.61 Times

Key Highlights:

• The IPO of Forge Auto International was subscribed 4.61 times on Day 1, with strong initial demand across all investor categories.
• Qualified Institutional Buyers (QIB) showed significant initial interest with a subscription ratio of 6.55 times.
• Retail investors showed strong early interest with a subscription ratio of 4.47 times.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 2.35 times.
• The first-day response laid a strong foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Forge Auto International Limited:

Forge Auto International Limited, incorporated in 2001, is an engineering company specializing in forging and manufacturing complex, safety-critical components for the automotive and non-automotive sectors. The company serves domestic and global OEMs, offering products like short and long forks, flange yokes, ball studs, and stub axle assemblies for commercial vehicles, railways, and agricultural equipment. With a manufacturing facility boasting a 20,000MT forging capacity and 25 lakh units machining capacity, Forge Auto has shown steady growth, with revenue increasing to ₹181.57 crore in FY 2024, a 2% YoY growth.

The company holds multiple certifications, including ISO 9001:2015, IATF 16949:2016, and ZED GOLD, emphasizing its commitment to quality and sustainability. As of March 2024, Forge Auto employed 366 permanent staff and maintained an in-house sales team of 14 employees, showcasing its focus on operational efficiency and customer relationships in the competitive auto components sector.

Read more about Forge Auto International IPO

Highlights of the Forge Auto International IPO:

• IPO Date: 26th September 2024 to 30th September 2024
• Listing Date: 4th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹102 to ₹108 per share
• Lot Size: 1200 Shares
• Total Issue Size: 2,880,000 shares (aggregating up to ₹31.10 Cr)
• Fresh Issue: 2,880,000 shares (aggregating up to ₹31.10 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Hem Securities Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Hem Finlease