Advance Technoforge Ltd. (BSE SME)

Advance Technoforge Ltd. (BSE SME)

NSE - SMEUpcoming
Min. Investment
₹1,14,000
/ 1200 Shares
Issue Price
95-95
Subscription
-
Issue Size
24.03
Lot Size
1200
Open
Jul 27, 2026
Close
Jul 29, 2026
Allotment
Jul 30, 2026
Listing
Aug 3, 2026

1. Advance Technoforge Ltd. (BSE SME) IPO Details

Advance Technoforge Ltd IPO is a fixed price SME issue of ₹24.03 crores. The issue consists entirely of a fresh issue of 25.30 lakh equity shares (25,29,600 shares), with no offer-for-sale (OFS) component.

The bidding for the IPO starts next Monday, Jul 27, 2026, and ends on Jul 29, 2026. The allotment is expected to be finalized on Jul 30, 2026. The company will list on the BSE SME platform, with a tentative listing date fixed as Aug 03, 2026.

The issue price is set fixed at ₹95 per share. The lot size for an application is 1,200 shares, but the minimum application for retail investors is 2 lots (2,400 shares). The minimum amount of investment required by a retail investor is ₹2,28,000.

Grey Market Premium

Estimated listing gains (Live)

+9 (9.5%)Per Share
EST. GAINS
Updated real-time from market sources

Financial Summary

Period Ended31 Mar 202631 Mar 202531 Mar 2024
Assets46.9239.5128.65
Total Income50.7351.1648.24
Profit After Tax4.062.701.70
EBITDA8.355.523.86
NET Worth13.389.566.93
Reserves and Surplus7.193.136.44
Total Borrowing17.2917.5111.19

Advance Technoforge IPO Details

IPO Date27 to 29 Jul, 2026
Listing DateMon, Aug 3, 2026 T
Face Value₹ 10 per share
Issue Price₹95 per share
Lot Size1,200 Shares
Sale TypeFresh capital only
Issue TypeFixed Price IPO
Listing AtBSE SME
Total Issue Size25,29,600 shares (agg. up to ₹ 24 Cr)
Reserved for Market Maker1,29,600 shares (agg. up to ₹ 1 Cr) JSK Securities & Services Pvt.Ltd.
Fresh Issue (Ex Market Maker)24,00,000 shares (agg. up to ₹ 23 Cr)
Net Offered to Public24,00,000 shares (agg. up to ₹ 23 Cr)
Share Holding Pre Issue65,00,000 shares
Share Holding Post Issue90,29,600 shares

Issue Reservation

Investor CategoryShares Offered% of Net Issue% of Total Issue
NII (HNI) Shares Offered12,00,00050.00%47.44%
Retail Shares Offered12,00,00050.00%47.44%
Market Maker Shares Offered1,29,600-5.12%
Total Shares Offered25,29,600100.00%100.00%

IPO Lot Size

ApplicationLotsSharesAmount
Individual investors (IND) (Min)22,400₹2,28,000
Individual investors (IND) (Max)22,400₹2,28,000
HNI (Min)33,600₹3,42,000

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IPO Objects of the Issue

#Issue ObjectsEst Amt (₹ Cr.)
1Purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Including GST)7.19
2Part Funding of working capital requirements7.25
3Repayment / Prepayment of all or certain of borrowings availed by the Company2.40
4General Corporate purposes3.59
5Issue Expenses3.60
Total24.03

Key Performance Indicator (KPI)

KPIMar 31, 2026
ROE30.33%
ROCE22.52%
Debt/Equity1.29
RoNW30.33%
PAT Margin8.11%
EBITDA Margin16.69%
Price to Book Value4.61

Pre/Post IPO Valuation

ParameterPre IPOPost IPO
EPS (₹)6.244.49
P/E (x)15.2221.16
Promoter Holding100%71.99%
Market Cap₹ 85.78 Cr.-

IPO Expenses

#Issue ExpensesEst Amt (₹ Cr.)
1Fees payable to Lead Manager including underwriting commissions0.82
2Advertising and Publication expenses0.04
3Fees to the Registrar to the Issue0.01
4Fees payable to Legal Advisors0.06
5Fees payable to the Regulators including Stock Exchange0.05
6Printing and distribution of Issue stationery0.01
7Commission/procession fee for SCBs, Sponsor Banks and Banker to the Issue0.02
8Brokerage, commission and selling commission, Registered Brokers, RTAs and DPs0.03
9Expenses and fees payable for marketing, promotion & distribution, Underwriting, Market Making etc.2.46
10Expenses and fees payable for Peer Reviewed Auditor0.05
11Others Expenses including out of pocket and fee to Chartered Engineer and Practicing Company Secretary certificate etc.0.06
Total3.60

2. About Advance Technoforge Ltd. (BSE SME)

Incorporated in 2013 and headquartered in Ahmedabad, Gujarat, Advance Technoforge Limited is engaged in manufacturing and supplying forged and precision-machined components with specialized surface coatings and heat treatments. The company serves critical industrial application sectors including automotive, oil & gas, railway, construction, hydraulic, valve, and pump industries.

Track Record

  • Financial Scale: Total operational income tracked at ₹48.24 Cr in FY24, expanding to ₹51.16 Cr in FY25, and logging ₹50.73 Cr for the fiscal year ended March 31, 2026.

  • Profitability: Net profit (PAT) demonstrated steady compounding, rising from ₹1.70 Cr in FY24 to ₹2.70 Cr in FY25, and jumping to ₹4.06 Cr in FY26.

  • Return Metrics: Enters the capital markets carrying solid baseline return parameters, featuring a Return on Equity (ROE / RoNW) of 30.33% alongside an EBITDA margin of 16.69% for FY26.

Advance Technoforge Ltd IPO GMP

As of July 24, 2026, the Grey Market Premium (GMP) is trading around ₹5.5 (~5.8%).

Note: Reflecting a steady initial premium ahead of its public subscription launch next week, early grey market tracking indicators estimate a tentative initial listing price around ₹100.5 against the issue price of ₹95.

Advance Technoforge Ltd IPO Allotment Status

The allotment is scheduled to be finalized on July 30, 2026.

Check Advance Technoforge Allotment Status

To check your status online once the issue closes, visit the official assigned registrar tracking portal or monitor updates on the BSE SME exchange portal: KFin Technologies IPO Status Portal

You can verify your status via:

  • Registrar's website (KFin Technologies Limited)

  • BSE official SME tracking portal

  • Using your PAN number, Application ID, or DP ID/Client ID

Strengths

  • Integrated Manufacturing Setup: Houses end-to-end processing layers from precision forging to automated machining and specialized surface coatings under one roof.

  • Diverse Industrial Footprint: Serves a broad portfolio across automotive, oil & gas, hydraulics, and heavy engineering clients.

  • Strong Profitability Growth: Net profits expanded over 50% year-on-year in FY26, backed by solid capital productivity ratios.

Weaknesses

  • Customer & Vendor Reliance: Relies heavily on a select group of core OEM clients for a major chunk of operational revenues without long-term contracts.

  • Raw Steel Price Sensitivity: Margins are susceptible to raw steel price volatility and supply disruptions from primary vendors.

  • High Working Capital Intensity: Operations involve long working capital cycles due to processing time lags and credit windows given to industrial buyers.

How the Company Will Use IPO Money

The fresh issue proceeds will be utilized for:

  • Capital Expenditure: Funding the purchase and installation expenses for new plant machinery at its existing premises.

  • Working Capital Requirements: Allocation toward meeting day-to-day incremental working capital needs.

  • General Corporate Purposes: Meeting regular general corporate administrative expenses and public offering costs.

Lead Manager & Registrar

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

  • Market Maker: JSK Securities & Services Pvt. Ltd.

  • Registrar: KFin Technologies Limited

D
Founder | India IPO Updates

DIPAK DANGODARA

I am the founder of India IPO Updates, a platform dedicated to tracking the Indian IPO market since 2024. With a background in digital research and data analysis, I built this platform to simplify IPO tracking covering issue details, live Grey Market Premium (GMP), subscription status, and allotment updates sourced from public exchange data and verified market sources.

I am not an SEBI-registered investment advisor. All GMP and market data shared here is for informational purposes only and should not be considered investment advice. Investors are advised to consult a registered financial advisor before making investment decisions.