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Forge Auto International Listed With 5% Premium on NSE, Read More To Get Full Details!

Forge Auto International had a modest debut on the stock market, listing at ₹113 on the NSE, marking a 5% premium over its IPO price of ₹108 on October 4.
Forge Auto International Listed With 5% Premium on NSE, Read More To Get Full Details!

Forge Auto International had a modest debut on the stock market, listing at ₹113 on the NSE SME, marking a 5% premium over its IPO price of ₹108 on October 4. The company’s start reflects cautious investor sentiment despite the initial premium.

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Forge Auto International IPO witnessed considerable demand on Day 3, with the issue being subscribed 45.85 times. This notable subscription rate signifies robust investor confidence in the company’s potential within the automotive sector, indicating a positive reception as the IPO progresses.

Forge Auto International specialises in forging and manufacturing complex, safety-critical components, including rings, ball studs, and gear blanks, for various sectors such as automotive and agriculture. It primarily serves domestic and global OEMs in automotive and non-automotive industries. Additionally, the company exports its products to countries like France, Germany, Brazil, and the United States, among others.

Forge Auto International Ltd plans to allocate INR 19 crores from its IPO proceeds for working capital enhancements, INR 5 crores for debt repayment, and the remainder for general corporate purposes aimed at reducing debt, supporting operations, and funding growth initiatives.

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