Amic Forging
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Nov 2023 – 01 Dec 2023
- Listing date
- 06 Dec 2023
- Face value
- ₹10 per share
- Issue price
- ₹126 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹34.80 Cr
- Market cap at offer price
- ₹132 Cr
- Promoter holding
- 78.38% → 57.74% pre-issue → post-issue
- ISIN
- INE0P9J01013
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Gretex Corporate Services Ltd.
- Registered office
- 3A, Garstin Place, 2nd Floor, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 7,86,000 | — | — |
| Market maker | 1,39,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹126
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 7,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 12.83 | — |
| P/E (×) | 9.82 | — |
| Market cap | — | ₹132 Cr |
Key performance indicators
- Return on net worth
- 49.40%
- ROCE
- 55.78%
- Debt / equity
- 0.26
- PAT margin
- 8.46%
- NAV per share
- ₹258.25
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Amic Forging
Amic Forging Limited (incorporated June 19, 2007, converted to public company August 9, 2023) manufactures precision-machined forged components to customer specifications and international standards (AISI, BS, IS, DIN). The company serves Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and related industries. It produces carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloy products including Rounds, Shafts, Blanks, Gear couplings, Hubs, Flanges, and custom engineering spares. The company operates an integrated facility with forging units (6 M/ton Electro Hydraulic Hammer, 1 M/ton Pneumatic Hammer), heat treatment plant, and machine shop. With ISO 9001:2015 certification and strict quality controls, it focuses on quality, on-time delivery, and competitive pricing. The company is pursuing backward integration into Steel Melting & Ingot Casting to expand product base and improve raw material availability.
Company Analysis
from RHPAmic Forging Limited is a precision forged component manufacturer serving Heavy Engineering, Steel, Oil & Gas, Petrochemicals, and Power industries across India.
Amic Forging Limited (incorporated June 19, 2007, converted to public company August 9, 2023) manufactures precision-machined forged components to customer specifications and international standards (AISI, BS, IS, DIN). The company serves Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and related industries. It produces carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloy products including Rounds, Shafts, Blanks, Gear couplings, Hubs, Flanges, and custom engineering spares. The company operates an integrated facility with forging units (6 M/ton Electro Hydraulic Hammer, 1 M/ton Pneumatic Hammer), heat treatment plant, and machine shop. With ISO 9001:2015 certification and strict quality controls, it focuses on quality, on-time delivery, and competitive pricing. The company is pursuing backward integration into Steel Melting & Ingot Casting to expand product base and improve raw material availability.
Objects of the Issue
- Setting up of Manufacturing facility (Backward Integration: Steel Melting & Ingot Casting foundry, Forward Integration: Heat Treatment plant) ₹2,235.20 Lakhs p.23
- Working Capital Requirements ₹750.00 Lakhs p.23
- General Corporate Purposes ₹99.92 Lakhs p.23
Issue Structure
- Total Issue
- ₹3,480.12 Lakhs
- Fresh Issue
- 27,62,000 Equity Shares at ₹126.00 per share (₹3,480.12 Lakhs)
- Offer for Sale
- Not Applicable
- Price Band
- ₹121.00 to ₹126.00
- Lot Size
- 1,000 Equity Shares and multiples of 1,000 thereafter
- Face Value
- ₹10.00 per Equity Share
Business Model
The company earns revenue through manufacturing and selling precision forged components and engineering spare parts to domestic customers across Heavy Engineering, Steel, Oil & Gas, Power, and related industries. Products are manufactured to customer specifications and international standards. The revenue model depends on order volume from customers, timely delivery, and maintaining cost competitiveness through integrated manufacturing processes (forging, heat treatment, machining) that minimize lead time and costs.
Business Segments
SWOT Analysis
- • Experienced Promoters and Management Team(p.116)
- • Integrated Manufacturing Facility with Advanced Equipment(p.115)
- • Product Quality and International Standards(p.112)
- • Long-Standing Customer Relations(p.116)
- • Product Diversity and Customized Solutions(p.112)
- • ISO 9001:2015 Certification(p.112)
- • Backward and Forward Integration Plans(p.112)
- • Heavy Dependence on Top Ten Customers(p.21)
- • Negligible Export Presence(p.29)
- • Significant Rise in Working Capital Requirements(p.31)
- • Non-Compliance with Accounting Standard 23(p.30)
- • Corporate Governance Non-Compliances(p.34)
- • No Long-Term Agreements with Clients(p.34)
- • Lack of Long-Term Raw Material Supplier Arrangements(p.31)
- • Growing Demand from Non-Automotive Sectors(p.118)
- • Increasing Export Opportunities(p.107)
- • Rising Automotive Industry Growth(p.23)
- • Growth in Global Metal Forging Market(p.105)
- • Increasing Foreign Direct Investment(p.107)
- • Government Initiatives for Manufacturing Sector Growth(p.111)
- • Rising Demand from Heavy Engineering and Industrial Sectors(p.112)
- • High Volatility in Raw Material Prices(p.31)
- • Electrification in Automotive Industry Reducing Forged Component Demand(p.108)
- • Intense Domestic and Global Competition(p.32)
- • Changes in Government Regulations and Policies(p.44)
- • Power Supply Disruption(p.32)
- • Global Economic and Political Uncertainty(p.45)
- • Malpractices by Industry Players Affecting Overall Performance(p.44)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Girdhari Lal Chamaria | Promoter | 10.51% | 7.74% |
| Anshul Chamaria | Promoter | 17.21% | 12.68% |
| Manju Chamaria | Promoter | 11.83% | 8.72% |
| Rashmi Chamaria | Promoter | 17.73% | 13.06% |
| Hariram Girdharilal HUF | Promoter Group | 15.14% | 11.16% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.