Advance Technoforge IPO

About Advance Technoforge IPO

The Advance Technoforge IPO, an SME IPO, opens on Monday, July 27, 2026 and closes on Wednesday, July 29, 2026. The allotment of shares will take place on Thursday, July 30, 2026. The credit of shares to the demat account will take place on Friday, July 31, 2026. The initiation of refunds will take place on Friday, July 31, 2026. The listing of shares will take place on Monday, August 3, 2026.

The offer consists of a fresh issue component. The fresh issue will include 25,29,600 shares aggregating up to ₹24.03 crores. Advance Technoforge IPO's price is set at ₹95 per share (Fixed Price Issue). The lot size for an application is 1,200 shares, with a minimum application of 2 lots. The minimum amount of investment required by a retail investor is ₹2,28,000 (2,400 shares) (based on the issue price).

The Company manufactures forged and precision machined components for global original equipment manufacturers across the automotive, oil and gas, earth-moving, and railway industries

Objectives of Advance Technoforge IPO

• Purchase and installation of plant and machinery for manufacturing of precision machine components at the existing premises (including GST)
  
• Part funding of the working capital requirements of the company.
  
• General corporate purposes.
  

Industry Outlook

India ranks third in casting production globally. The Indian metal forging market is expected to reach USD 8.0 billion by 2029, implying a 10.69% CAGR over 2023–29. The industry carries an installed capacity of around 38.5 lakh MT. It forges carbon steel, alloy steel, stainless steel, super alloy, titanium, and aluminium to suit varied user industries. Forging clusters sit close to their end-user customers. The major clusters lie in Maharashtra, Punjab, Gujarat, Tamil Nadu, Haryana, Delhi, Karnataka, Jharkhand, West Bengal, and Andhra Pradesh. The casting and forging sector has upgraded its practices to align with international standards and accelerate revenue from the automotive segment.

Growth is driven by import substitution and export promotion under the Make in India programme. Frontline domestic players have begun building world-scale capabilities through greenfield projects and through the acquisition of distressed global facilities. About Advance Technoforge

Advance Technoforge carries over 20 years of experience in producing forged and precision-machined parts to customer and international specifications. It supports these with processes such as powder coating, CED coating, magni coating, plating, polishing, passivation, ultrasonic cleaning, and galvanising.

The manufacturing facility at Veraval (Shapar), Rajkot, has a forging capacity of 6,000 MT per year across three production lines. Present installed capacity is 500 MT per month. The Company exports to Croatia, Germany, Finland, and the United States. Export operations contributed 15.24% of total operational revenue in FY24.

Strengths of Advance Technoforge

• Strategic location of manufacturing facilities.
  
• Experienced promoters and management team.
  
• Established customer base for products and byproducts.
  
• Strong existing client relationships.
  
• A successful and proven track record.
  
• Offering flexible operations to meet specific customer requirements.
  
• Strong technical and execution capabilities to maintain quality.
  

Risks of Advance Technoforge

• Economic and market risks may arise from a slowdown in global or Indian economic growth, affecting business expansion and overall performance.
  
• Government and regulatory changes, including shifts in policies, taxation, or sector-specific regulations, could impact operations and profitability.
  
• Rapid technological changes may require continuous investment and adaptation, with failure to keep pace potentially affecting competitiveness.
  
• Dependence on a limited number of key customers and suppliers may expose the business to disruptions or changes in commercial relationships.
  
• Fluctuations in financial markets and prices of key raw materials such as steel, coal, and coke could affect costs, margins, and profitability.
  
• Inability to meet debt obligations or comply with applicable laws, regulations, and financial covenants could result in financial penalties, legal action, or reputational damage.
  

Anchor Investor Bidding Date

Anchor investor allocation is not applicable for this SME IPO. This is a 100% Fixed Price Issue and does not carry an anchor investor tranche.

IPO Registrar
KFin Technologies Limited
Email: ncml.ipo@kfintech.com
Tel. No: +91 40 6716 2222

Book Running Lead Manager
Sun Capital Advisory Services Private Limited

Advance Technoforge Contact Details
Sr. No.-121, Plot No.1 to 6, At. & Po. Padavala Road, Opp. Eaterflow Piping,
System, Veraval Shapar, Lodhika, Rajkot, Gujarat, India, 360024
Email: cs@advancetechforge.com
Phone: +91 9825368310

Advance Technoforge Business Model

The company earns its revenue through the manufacture and supply of forged and precision-machined components to global and domestic original equipment manufacturers. It produces high-precision safety-critical parts for the automotive, industrial valves and pumps, earth-moving and agriculture equipment, power transmission, and construction machinery segments. Revenue is generated from both domestic sales and exports to markets including Croatia, Germany, Finland, and the United States. The Company differentiates itself through customised solutions, international quality certifications, and a full-service capability spanning conceptualisation, design, manufacturing, testing, and validation.

Advance Technoforge Growth Trajectory

Advance Technoforge Limited's total income for FY24 was ₹48.24 crore, whereas in FY23 and FY22 it was ₹37.91 crore and ₹31.56 crore, respectively.

The profit after tax for FY24 was ₹1.70 crore, whereas in FY23 and FY22 it was ₹0.75 crore and ₹0.40 crore, respectively.

Their EBITDA for FY24 was ₹3.86 crore, whereas in FY23 and FY22 it was ₹2.35 crore and ₹1.87 crore, respectively.

Advance Technoforge Market Position

Advance Technoforge manufactures forged and precision-machined components at its Rajkot, Gujarat facility, with a forging capacity of 6,000 MT per year across three production lines and an installed capacity of 500 MT per month. It supplies global OEMs across the automotive, oil and gas, earth-moving, railway, and industrial equipment sectors, and exports to Croatia, Germany, Finland, and the United States.

As of 31 March 2024, the company's total income, profit after tax, and EBITDA were ₹48.24 crore, ₹1.70 crore, and ₹3.86 crore, respectively.

How to apply for Advance Technoforge IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.