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 is open for subscription on November 29, 2023 and close today December 1, 2023. The allotment for the AMIC Forging IPO is expected to be finalized on Wednesday, December 6, 2023. AMIC Forging IPO will list on BSE SME with tentative listing date fixed as Monday, December 11, 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.
Incorporated in 2007, AMIC Forging Limited, previously known as Kali Mata Forging Private Limited, manufactures forged components catering to various 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, catering to the requirements of various industries such as Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.
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.
AMIC Forging recorded a total of Rs. 2,954.57 Lacs, Rs. 11,585.41 Lacs, and Rs. 7,111.97 Lacs in revenue from operations for the period ended June 30, 2023, March 31, 2023, and March 31, 2022, respectively.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
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 | Wednesday, December 6, 2023 |
| Initiation of Refunds | Thursday, December 7, 2023 |
| Credit of Shares to Demat | Friday, December 8, 2023 |
| Listing Date | Monday, December 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 1, 2023 |
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