BSE SME IPO of Advance Technoforge subscribed 23%

The initial public offer (IPO) of Advance Technoforge received bids for 6,01,200 shares as against 25,29,600 shares on offer, as per BSE data as of 17:00 hours on 27 July 2026. The issue was subscribed 0.23 times.

The issue opened for bidding on 27 July 2026 and it will close on 29 July 2026. The price of the IPO is fixed at Rs 95 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on BSE's SME platform.

The IPO comprises a fresh issue of 25,29,600 shares. The promoter and promoter shareholding will dilute to 71.99% from 100% Pre-IPO.

About 1,29,600 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 12,00,000 equity shares. The issue and the net issue will constitute 28.01% and 26.58% respectively of the post offer paid up equity share capital of the company.

The company intends to utilise the net proceeds from the issue towards the purchase and installation of machinery for manufacturing precision machine components at its existing facility, funding working capital requirements, repayment or prepayment of certain outstanding borrowings, and general corporate purposes.

Advance Technoforge (ATL) is engaged in the manufacturing and supply of forged and precision-machined components with specialized coatings and surface treatments. The company caters to a diverse range of industries, including automotive, oil and gas, valves, pumps, construction equipment, earthmoving machinery, railways and material handling.

With over two decades of industry experience, ATL manufactures high-quality, precision-engineered components for global original equipment manufacturers (OEMs). Its product portfolio includes tow hook assemblies, retainer plates, cross members, connecting rods, Boden (end caps) and other forged and machined components used in automotive, hydraulic, material handling and industrial applications.

The company operates an integrated manufacturing facility equipped with forging, machining and finishing capabilities, enabling it to deliver value-added products that meet stringent quality standards. As of 30 June 2026, Advance Technoforge employed 205 people across manufacturing, marketing, administration, finance, legal and other business functions.

The company recorded revenue from operations of Rs 50.04 crore and net profit of Rs 40.5 crore for the period ended 31 March 2026.

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