Advance Technoforge Limited

Here are the key details, company fundamentals, live subscription numbers, and Grey Market Premium (GMP) for Advance Technoforge Limited.

1. Company Overview & Business Profile

Incorporated in 2013 and based in Rajkot, Gujarat, Advance Technoforge Limited is an engineering manufacturer and exporter specializing in closed-die steel forgings, upset forgings, ring-rolling forgings, and precision-machined components.

  • Products & Applications: Supplies forged and machined components in carbon steel, alloy steel, and stainless steel to Original Equipment Manufacturers (OEMs). Key sectors served include automotive, oil & gas, earthmoving equipment, railways, hydraulics, pumps, and general engineering.

  • Objects of the Issue: 100% fresh issue proceeds (₹24.03 Cr) are allocated toward machinery acquisition for precision components (~₹7.19 Cr), working capital requirements (~₹7.25 Cr), debt repayment/prepayment (~₹2.40 Cr), and general corporate purposes (~₹3.59 Cr).

2. Key Financial Fundamentals

The company has expanded its profit margins significantly over the past three fiscal years, though revenue growth has remained modest:

Financial Metric (in ₹ Crore) FY2024 FY2025 FY2026
Total Revenue / Income ₹48.24 ₹51.16 ₹50.73
EBITDA / Operating Profit ₹3.59 ₹5.09 ₹7.68
Profit After Tax (PAT) ₹1.70 ₹2.70 ₹4.06
Adjusted EPS (₹) ₹0.26 ₹0.41 ₹0.62
Total Borrowings ₹3.58 ₹7.97 ₹6.23

Fundamental Highlights & Risk Indicators

  • Order Book: Stood at ₹19.04 Crore (as of July 11, 2026), covering roughly 4 to 5 months of operational turnover.

  • Capacity Utilization: Averages 49.13% over the past 3 years.

  • Trade Receivables: Accounted for ~48.65% of FY2026 total income, highlighting high working-capital intensity.

3. IPO Key Details & Schedule

  • IPO Price: Fixed at ₹95 per equity share

  • Total Issue Size: ₹24.03 Crore (100% Fresh Issue of 25,29,600 shares)

  • Listing Exchange: BSE SME

  • Lot Size & Retail Minimum: 1,200 shares per lot; minimum retail application is 2 lots (2,400 shares) = ₹2,28,000

  • Book Running Lead Manager: Sun Capital Advisory Services Pvt. Ltd.

  • Registrar: KFin Technologies Limited

Important Dates Schedule

  • Issue Open Date: July 27, 2026

  • Issue Close Date: July 29, 2026

  • Basis of Allotment: July 30, 2026

  • Initiation of Refunds / Share Credit: July 31, 2026

  • Tentative Listing Date: August 3, 2026

4. Live Subscription Status (Day 2 Update)

As of July 28, 2026, subscription demand stands as follows:

  • Retail Individual Investors (RII): ~0.68x

  • Non-Institutional Investors (NII / HNI): ~0.06x

  • Overall Subscription: ~0.37x

5. Grey Market Premium (GMP)

  • Current Indicative GMP: ₹0 – ₹9 per share

  • Estimated Listing Price: ~₹95 – ₹104 per share (0% to ~9.5% indicative premium)

Note: Low GMP activity reflects neutral short-term market interest for this fixed-price SME issue.

Scroll to Top