AMIC Forging IPO is a book built issue of Rs 34.80 crores. The issue is entirely a fresh issue of 27.62 lakh shares.
AMIC Forging IPO opens for subscription on November 29, 2023 and closes on December 1, 2023. The allotment for the AMIC Forging IPO is expected to be finalized on Wednesday, December 6, 2023. AMIC Forging IPO will list on BSE SME with tentative listing date fixed as Monday, December 11, 2023.
AMIC Forging IPO price band is set at ₹121 to ₹126 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹252,000.
Gretex Corporate Services Limited is the book running lead manager of the AMIC Forging IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for AMIC Forging IPO is Gretex Share Broking.
Refer to AMIC Forging IPO RHP for detailed information.
AMIC Forging IPO Details
| IPO Date | November 29, 2023 to December 1, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹126 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 2,762,000 shares (aggregating up to ₹34.80 Cr) |
| Fresh Issue | 2,762,000 shares (aggregating up to ₹34.80 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 7,726,410 |
| Share holding post issue | 10,488,410 |
| Market Maker portion | 139,000 shares Gretex Share Broking |
AMIC Forging IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
AMIC Forging IPO Timeline (Tentative Schedule)
AMIC Forging IPO opens on November 29, 2023, and closes on December 1, 2023.
| IPO Open Date | Wednesday, November 29, 2023 |
| IPO Close Date | Friday, December 1, 2023 |
| Basis of Allotment | Wednesday, December 6, 2023 |
| Initiation of Refunds | Thursday, December 7, 2023 |
| Credit of Shares to Demat | Friday, December 8, 2023 |
| Listing Date | Monday, December 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 1, 2023 |
AMIC Forging IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹126,000 |
| Retail (Max) | 1 | 1000 | ₹126,000 |
| HNI (Min) | 2 | 2,000 | ₹252,000 |
| Lot Size Calculator |
AMIC Forging IPO Promoter Holding
The promoters of the company being Mr. Girdhari Lal Chamaria, Mr. Anshul Chamaria, Ms. Manju Chamaria, and Ms. Rashmi Chamaria.
| Share Holding Pre Issue | 78.38% |
| Share Holding Post Issue | 57.74% |
About AMIC Forging Limited
Incorporated in 2007, AMIC Forging Limited, previously known as Kali Mata Forging Private Limited, manufactures forged components catering to various industries.
The company manufactures precision machined components such as Rounds, Shafts, Blanks, and complete finished engineering, spare parts e.g. Gear coupling, Hub, Round, Flange, and other all kinds of engineering spares as per customer specifications and International Standards like AISI, BS, IS, DIN, etc, catering to the requirements of various industries such as Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.
AMIC Forging’s manufacturing facilities have a forging unit with a 6 M/ton capacity Electro Hydraulic Hammer along with a 1 M/ton capacity Pneumatic Hammer, each hammer runs with the support of a Manipulator with 3 Overhead Cranes, Jib Cranes, 3 oil-fired furnace (Temperature controlled) with all necessary accessories.
The company has a Heat Treatment Plant which has an oil bogie hearth automatically controlled furnace with a four-point recording arrangement & temperature graph indicator/recorder with water and oil quenching arrangement. Apart from the above the company also has a machine shop which contains many machines required for the manufacturing process.
AMIC Forging recorded a total of Rs. 2,954.57 Lacs, Rs. 11,585.41 Lacs, and Rs. 7,111.97 Lacs in revenue from operations for the period ended June 30, 2023, March 31, 2023, and March 31, 2022, respectively.
AMIC Forging Limited Financial Information (Restated Consolidated)
AMIC Forging Limited’s revenue increased by 63.65% and profit after tax (PAT) rose by 1031.78% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,367.84 | 6,107.99 | 3,163.87 | 1,622.07 |
| Revenue | 2,979.32 | 11,683.01 | 7,138.82 | 2,643.37 |
| Profit After Tax | 359.94 | 980.01 | 86.59 | 56.27 |
| Net Worth | 2,338.43 | 1,983.75 | 767.28 | 680.69 |
| Reserves and Surplus | 2,252.58 | 1,897.90 | 696.21 | 609.62 |
| Total Borrowing | 287.37 | 385.17 | 1,071.32 | 436.50 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 1.01 |
| ROE | 71.25% |
| ROCE | 55.78% |
| Debt/Equity | 0.26 |
| EPS (Rs) | 12.83 |
| RoNW | 49.40% |
Check AMIC Forging IPO Peer Comparison here.
Objects of the Issue (AMIC Forging IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Setting up of Manufacturing facility.
- Working Capital Requirements.
- General Corporate Purposes.
AMIC Forging Limited Contact Details
AMIC Forging Limited
3A, Garstin Place,
2nd Floor,
Kolkata – 700001
Phone: 033 – 40668190
Email: amic@amicforgings.com
Website: https://www.amicforgings.com/index.html
AMIC Forging IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html