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AMIC Forging Limited IPO (AMIC Forging IPO) Detail

November 29, 2023 - December 1, 2023

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 bidding started from November 29, 2023 and ended on December 1, 2023. The allotment for AMIC Forging IPO was finalized on Monday, December 4, 2023. The shares got listed on BSE SME on December 6, 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 December 6, 2023
Face Value ₹10 per share
Price Band ₹121 to ₹126 per share
Lot Size 1000 Shares
Total Issue Size2,762,000 shares
(aggregating up to ₹34.80 Cr)
Fresh Issue2,762,000 shares
(aggregating up to ₹34.80 Cr)
Issue Type Book Built Issue IPO
Listing At BSE SME
Share holding post issue10,488,410
Market Maker portion139,000 shares
Gretex Share Broking

AMIC Forging IPO Reservation

AMIC Forging IPO offers 2,762,000 shares. 524,000 (18.97%) to QIB, 394,000 (14.27%) to NII, 919,000 (33.27%) to RII and 786,000 (28.46%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered786,000 (28.46%)
Market Maker Shares Offered139,000 (5.03%)
QIB Shares Offered524,000 (18.97%)
NII (HNI) Shares Offered394,000 (14.27%)
Retail Shares Offered919,000 (33.27%)
Total Shares Offered2,762,000 (100%)

AMIC Forging IPO Anchor Investors Details

AMIC Forging IPO raises Rs 9.90 crore from anchor investors. AMIC Forging IPO Anchor bid date is November 28, 2023. AMIC Forging IPO Anchor Investors list

Bid Date November 28, 2023
Shares Offered 786,000
Anchor Portion Size (In Cr.) 9.90
Anchor lock-in period end date for 50% shares (30 Days) January 3, 2024
Anchor lock-in period end date for remaining shares (90 Days) March 3, 2024

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 Monday, December 4, 2023
Initiation of Refunds Tuesday, December 5, 2023
Credit of Shares to Demat Tuesday, December 5, 2023
Listing Date Wednesday, December 6, 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

Founded in 2007, AMIC Forging Limited, previously known as Kali Mata Forging Private Limited, manufactures forged components catering to various industries.

AMIC Forging's product portfolio includes main shafts for wind energy, drum tube sheets, casting molds, forged shells, tube sheets, channel covers, trunnions for nuclear power plants, forged necks, wheels, and nozzles for oil and gas.

The company's customers include companies from heavy engineering, the steel industry, the oil and gas industry, the petrochemical industry, the chemical industry, refineries, thermal power plants, nuclear power plants, hydropower plants, the cement industry, the sugar industry, and other related industries.

All products are made of carbon steel, alloy steel, stainless steel, nickel, and tool alloys.

As of June 30, 2023, the company had 80 Employees consisting of 56 permanent employees and 24 temporary laborers.

The company's manufacturing units are equipped with a forging unit with an electro-hydraulic hammer with a capacity of 6 M/ton and a pneumatic hammer with a capacity of 1 M/ton.

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 Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets6,367.846,107.993,163.871,622.07
Revenue2,979.3211,683.017,138.822,643.37
Profit After Tax359.94980.0186.5956.27
Net Worth2,338.431,983.75767.28680.69
Reserves and Surplus2,252.581,897.90696.21609.62
Total Borrowing287.37385.171,071.32436.50
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of AMIC Forging IPO is Rs 132.15 Cr.

KPI Values
ROE71.25%
ROCE55.78%
Debt/Equity0.26
RoNW49.40%
Pre IPO Post IPO
EPS (Rs) 12.83
P/E (x) 1.019.18

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:

  1. Setting up of Manufacturing facility.
  2. Working Capital Requirements.
  3. General Corporate Purposes.

AMIC Forging IPO Review (May apply)

[Dilip Davda]  The company is operating in a highly competitive segment with many big players around. The sudden boost in its profit margins from FY23 raises eyebrows and concern over sustainability. Based on its supper annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long-term rewards. Read detail review...


AMIC Forging IPO Subscription Status (Bidding Detail)

The AMIC Forging IPO is subscribed 289.05 times on December 1, 2023 7:02:00 PM. The public issue subscribed 273.01 times in the retail category, 91.43 times in the QIB category, and 589.27 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB91.43
NII589.27
Retail273.01
Total289.05

Total Application : 310,073 (337.40 times)

AMIC Forging IPO Prospectus

AMIC Forging IPO Rating

8
4.0
Rating:Rated 4.0 stars
Vote Here ...

AMIC Forging IPO Listing Details

Listing Date December 6, 2023
BSE Script Code 544037
NSE Symbol
ISIN INE0P9J01013
Final Issue Price ₹126 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹126.00
₹239.40
₹239.40
₹251.35
₹251.35

Check IPO Performance…

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

AMIC Forging IPO - Buy or Not

AMIC Forging IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 2 0 0

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AMIC Forging IPO FAQs

AMIC Forging IPO is a SME IPO of 2,762,000 equity shares of the face value of ₹10 aggregating up to ₹34.80 Crores. The issue is priced at ₹121 to ₹126 per share. The minimum order quantity is 1000 Shares.

The IPO opens on November 29, 2023, and closes on December 1, 2023.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in AMIC Forging IPO using UPI as a payment gateway. Zerodha customers can apply in AMIC Forging IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in AMIC Forging IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'AMIC Forging IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The AMIC Forging IPO opens on November 29, 2023 and closes on December 1, 2023.

AMIC Forging IPO lot size is 1000 Shares, and the minimum amount required is ₹126,000.

You can apply in AMIC Forging IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for AMIC Forging IPO will be done on Monday, December 4, 2023, and the allotted shares will be credited to your demat account by Tuesday, December 5, 2023. Check the AMIC Forging IPO allotment status.

The AMIC Forging IPO listing date is on December 6, 2023.
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AMIC Forging IPO Message Board

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342 Comments

142. SJogi |   Link |  Bookmark |December 12, 2023 7:11:25 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Detailed analysis of amic:-
📌📌 ➡️ ➡️
▪️Incorporated in 2007, AMIC Forging Limited✅ is engaged in manufacturing of forged Components. It manufactures precision machined components as per customer specifications and International Standards.

➡️📍INDUSTRIES they serve:- Nuclear Power , Hydro Power , Ship Building , Cement Industry , Heavy Engineering, Steel Industry, Oil & Gas , Petrochemicals , Chemicals , Refineries , Thermal Power , Sugar and other related 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.✅
(These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel and Tools Alloys).

▪️The company has its well established design center with latest 3D software✅ and highly trained technicians. It has earned its name in a short span of time because of committed delivery and premium quality product. (📍AMIC has strong position in the domestic market🔥)

▪️Their product diversity helps their company to maintain an edge over competition, since their company can provide customized and specialized solutions to its customers.✅

▪️AMIC is planning to expand via backward integration with starting the manufacturing of Steel Melting & Ingot Casting this backward integration would increase our product base and also increase our output due to easily availability of raw material.💫💫( 22.35Cr out of IPO funds will be used for this)

▪️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.✅

➢2021-Awarded as Technology Friendly Firm Award by Confederation of West Bengal Trade Associations.

➢2022-Among Top-3 Open-Die Forging Manufacturers in India in Terms of Capacity with Fully Integrated Infrastructure in Tata Growth Shop- Vendor Conclave.

📌📌
▪️IPO price: Rs.126
▪️IPO size: 34.8CR (Excluding anchor, size is: 24.9Cr)
▪️CMP:Rs.305.4
▪️Market cap: 320 CR
▪️P/E: 22✅
▪️EPS:Rs.14 (annualized)
▪️52 Wk High:305.4
▪️52 Wk Low:240
▪️ROE: 71.25%
▪️ROCE: 55.78%
▪️RoNW: 49.4%
▪️Debt/Equity:0.26
▪️Assets:63.67Cr
▪️Total Borrowing:2.87Cr (Reserves and Surplus:22.52Cr)
▪️Share Holding Pre Issue:78.38%
▪️Share Holding Post Issue:57.74%

📌FINANCIALS:
▪️FY24Q1 Rev: 29.79Cr🔥
▪️FY24Q1 PAT: 3.6 Cr🔥
▪️FY23 revenue is 116.8CR as compared to 71.38 CR(FY22), 64%✅ growth yoy.
▪️FY23 PAT is 9.8 CR as compared to 0.86 CR(FY22), 1040%✅ growth yoy.
▪️342%🔥 growth in revenue in last 2 years.
▪️1641%🔥 growth in PAT in last 2 years.

( PAT margins of 2.13% (FY21), 1.22% (FY22), 8.46% (FY23), 12.17% (Q1-FY24)✅)

📌IPO funds:
From the net proceeds of the IPO funds, it will utilize Rs. 22.35 cr. for capex on new manufacturing unit, Rs. 7.50 cr. for working capital, and the rest for general corporate purposes.

📌PEERS:
As per the offer document, the company has shown Maiden Forgings, Ramkrishna Forgings as their listed peers. They are trading at a P/E of 19.36 and 48.96✅ (as of November 24, 2023). However, it is not comparable on an apple-to-apple basis.

📌SECTOR GROWTH:
▪️The global metal forging market size was valued at $83.4 billion in 2022, and is projected to reach $168 billion by 2032, growing at a CAGR of 7.2% from 2023 to 2032.✅
▪️The India metal forging market size was valued at USD 3.86 billion in 2021. The market is projected to grow from USD 4.32 billion in 2022 to USD 8.80 billion by 2029, showing a CAG of 10.69% during the forecast period.✅

▪️The automotive industry makes extensive use of forged metal components, such as engine components, transmission components, suspension components, and body sheet. Thus, growth in automotive industry is anticipated to drive metal forging market growth, and is also expected to improve the metal forging market outlook.(• Also Development in non-automotive sector like railway, defense etc, is good opportunity for AMIC💫)

▪️One of the initiatives by the Government of India's Ministry for Heavy Industries & Public Enterprises is SAMARTH Udyog Bharat 4.0, or SAMARTH Advanced Manufacturing and Rapid Transformation Hubs.

▪️The market for metal forgings is also driven by a rise in energy sectors such as oil & gas refineries, and thermal power plants.

📌STRENGTH:
➢Large & Diverse Product Portfolio.
➢Advanced Manufacturing Process.✅
➢Scalable Business Model.✅
➢Experienced Promoters and Management Team.
➢Strong Sales, Marketing ,Distribution Capabilities and Well Developed Distribution Network.💫

📌FUTURE PLAN:
▪️Focus on Advanced Products.💫

▪️Strategic Acquisition and Alliance Opportunities.✅

▪️Focus on Increase in Volume of Sales.

▪️Continue to strive for cost efficiency.

▪️Focus on consistently meeting quality standards.

📌Disclosure: Not a buy/sell recommendation. only for study and education purpose. Please consult your financial advisor before investing. Please stop investing blindly. I have bought few lots at Rs.305.4 at UC.🙏🙏
141. SJogi |   Link |  Bookmark |December 12, 2023 8:57:53 AM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
added few lots at UC. will post detailed analysis of AMIC today.
141.2. SJogi |   Link |  Bookmark |December 12, 2023 6:58:35 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Lets see how are the next results!
141.3. SJogi |   Link |  Bookmark |December 16, 2023 6:03:23 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
@Jonsnow global pet got 12Cr order which will be completed within 45days. Pls check🙏
140. SJogi |   Link |  Bookmark |December 7, 2023 9:09:56 AM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
All those who are there in bulk deals have special line which is connected with BSE, which helps them to place there buy order at top. No matter how much u try , u will not get until there big buy order is executed.
They just create fomo and trap at upper levels, see Deepak now on big LC.
140.4. Puny shah |   Link |  Bookmark |December 7, 2023 7:01:22 PM
But starting me hi lower crct lagade esa ho sakta h?
140.5. SJogi |   Link |  Bookmark |December 8, 2023 7:27:43 AM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
@Puny shah no it will not open on LC , but UC will break as i'm expecting flippers and QIB to sell today and following the panic many retailers will also sell.
i may be 100% wrong.
139. Puny shah |   Link |  Bookmark |December 7, 2023 4:43:16 PM
Isme bhi LC lagegi kya?
138. Nasir |   Link |  Bookmark |December 6, 2023 11:52:55 PM
I was finally lucky enough after months to get an IPO allotment! Did not sell it yet. Should I hold the shares for a few more days?
138.1. Basuvr |   Link |  Bookmark |December 7, 2023 6:18:25 AM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
@Nasir Congratulations
Yes hold it for some days 🙏
137. Basuvr |   Link |  Bookmark |December 6, 2023 8:49:41 AM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
Anyone who placed buy order in preopen and order got executed ?
137.11. Basuvr |   Link |  Bookmark |December 7, 2023 9:52:31 PM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
@Puny shah I think one can hold it for 2-3 more UC and sell near 300, as of now it is just at its GMP price. Risk takers can hold it further - refer Kalyani cast listed last month.

It is just my assumption, which can also be wrong.

Note: I was not alloted and even was not able to get it in preopen. So my holding is nil.

🙏
137.12. Basuvr |   Link |  Bookmark |December 12, 2023 8:49:19 AM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
Non-risk takers can sell it today at 305 🙏
136. Rajeev Kk |   Link |  Bookmark |December 6, 2023 9:16:12 AM
After the disappointment in fab four(tata tech, gandhar, ireda, flair) finally got allotment in this ipo. Luck has changed within weeks Wishing all good luck who got allotted in this ipo.
136.4. Rajeev Kk |   Link |  Bookmark |December 6, 2023 2:34:21 PM
Thanks @Cyberdude . Wishing good luck to you and hope to see you get allotted. I also wish whoever has not been allotted till now this year soon get allotment in good ipos soon. Everyone deserves a chance to make money. It should not be restricted to a limited list (I can see few are super lucky and are being allotted in every IPO). This was my first SME ipo after around 20 applications in SME ipo.
136.5. Cyberdude |   Link |  Bookmark |December 6, 2023 2:37:57 PM (200+ Posts)
Thanks @Rajeev Kk  All the best for the future
135. Ankur kejriwal |   Link |  Bookmark |December 6, 2023 8:29:54 AM
Where can we see its Pre-open price ?
135.1. Pangaj Don't be like me |   Link |  Bookmark |December 6, 2023 8:38:54 AM (300+ Posts)
You can check here

https://www.moneycontrol.com/india/stockpricequote/auto-ancillaries-castingsforgings/amicforging/AFL02
135.2. Ankur kejriwal |   Link |  Bookmark |December 6, 2023 9:24:13 AM
Sold 1 lot at 251.35. Great listing
134. IPOswami |   Link |  Bookmark |December 6, 2023 8:35:16 AM (200+ Posts)
Strong opening with strongest UC expected.....
133. ARJUN'S EYE |   Link |  Bookmark |December 6, 2023 7:56:58 AM
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
Today Listing AMIC Forging Ltd BSE SME IPO.
BSE Code:-544037
Symbol:-AMIC
Group:-MT
ISIN:-INE0P9J01013      
Issue Price:-126/-
Market Lot:-1000 Shares
Face Value:-10/-
Listing At:-BSE SME
132. kishenharendra |   Link |  Bookmark |December 6, 2023 7:00:22 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Can this be bought at pre-open for short term? Bcz surely it will list below gmp...
Experts? Opinions?
What's the plan by allotted applicants?
131. IPOswami |   Link |  Bookmark |December 6, 2023 6:49:26 AM (200+ Posts)
Amic Forging Ltd
(AMIC | 544037 | INE0P9J01013)
130. Harshbih |   Link |  Bookmark |December 5, 2023 11:42:23 PM
Where can we check allotment lot wise.. means which lots had maximum percentage of allotment and subscription..
130.1. kishenharendra |   Link |  Bookmark |December 6, 2023 6:59:01 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Check the BoA tab (basis of allotment) in the same page at top...
129. Pratham |   Link |  Bookmark |December 5, 2023 12:00:27 PM
IPO Mentor IPO Mentor (600+ Posts, 500+ Likes)
Buyer circuit expected on listing
129.1. Pratham |   Link |  Bookmark |December 5, 2023 10:48:03 PM
IPO Mentor IPO Mentor (600+ Posts, 500+ Likes)
Already gmp crossed 90% bse circuit limit.
128. G profit |   Link |  Bookmark |December 5, 2023 10:06:18 PM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
0/6 hni
127. A prem |   Link |  Bookmark |December 5, 2023 7:54:04 PM
Experts is the 90% limit changed in bse sme as gmp is showing 108% please tell i was planning to buy one lot but seems it will list way ahead if limit is not there
127.1. Basuvr |   Link |  Bookmark |December 5, 2023 7:58:25 PM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
We still have 90% limit in BSE SME for listing
followed with 5 % circuit limit
126. Wishal |   Link |  Bookmark |December 5, 2023 6:01:58 PM
IPO Mentor IPO Mentor (500+ Posts, 300+ Likes)
Bse me listing hai to kya 95 % up se jyada possibe hai?
126.1. Basuvr |   Link |  Bookmark |December 5, 2023 6:37:50 PM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
BSE has limit of 90% or 95% ?

Whatever it is, but post listing it be in UC for atleast 2-3 days
🙏
125. COMMON MEN WAITING FOR ALLOTMENT |   Link |  Bookmark |December 5, 2023 3:16:36 PM
Nafa news 1,40,000-/++++ 🔥
125.1. Sunmoney |   Link |  Bookmark |December 5, 2023 5:00:07 PM
Is it possible to list double.
Bse sme can't list in double amount.
Can you correct me in this regards
124. Rohitsme |   Link |  Bookmark |December 5, 2023 4:49:52 PM
Listing tomorrow as per allotment mail.
123. vikas uniyal |   Link |  Bookmark |December 5, 2023 3:13:01 PM
0/3 Retail not allotment