Metalic Technoforge IPO
Metalic Technoforge IPO is a sme IPO raising ₹50 Cr at ₹72 – ₹77 a share. The smallest application you can make is 1600 shares, costing ₹1,23,200 at the top of the band. Bidding has closed; the shares list on 28 Jul 2026. So far it has been subscribed 0.00× in total.
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What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Metalic Technoforge Limited, incorporated in 2016 and based in Rajkot, Gujarat, manufactures closed-die forged and precision-machined metal components such as gears, gear blanks, rings, ball studs, coupling assemblies, shafts, hydraulic components and other safety-critical parts. It supplies these primarily to OEMs in India's automotive sector (automobiles, tractors, commercial vehicles) and non-automotive sectors (agricultural/farm equipment, construction machinery, hydraulic equipment, oil & gas, general engineering). It also exports to OEMs in Germany, the USA, Finland, Italy, China and Turkey.
How it earns
Revenue comes from selling forged and machined components (with a small portion from scrap sales and job-work/process-fee services); the company also earns a small share by outsourcing some processes to third-party vendors but its core earner is direct product sales to OEMs.
Who buys
Supplies domestic and overseas OEMs in automobiles, tractors, commercial vehicles, farm/agricultural equipment, construction machinery, hydraulic equipment, oil & gas and general engineering. Export markets include Germany, the United States, Finland, Italy, China and Turkey. No single-customer concentration percentage is disclosed; in FY26 the company served 181 customers (102 repeat, 79 new) and repeat customers contributed 89.10% of revenue from operations (vs. 87.46% in FY25 and 67.70% in FY24). FY26 revenue from operations was ₹9,554.75 lakhs (≈₹95.55 crore).
Scale
Single manufacturing facility in Rajkot, Gujarat comprising four units (three operational, one vacant earmarked for expansion), with combined area of ~5,968.51 sq m (~64,244.53 sq ft); installed forging & machining capacity of 6,800 MT per annum; heat-treatment capacity ~1,200 MT per month; machining capacity ~3.00 lakh components per month; 1 MW captive solar plant on 4 acres; 191 employees as on the RHP date.
What it says sets it apart
- Integrated in-house manufacturing covering design/NPD, die-making, forging, heat treatment, shot blasting, machining and gear teeth cutting, with installed forging & machining capacity of 6,800 metric tons per annum and combined heat-treatment furnace capacity of ~1,200 MT per month across one 400 MT/month and one 800 MT/month furnace.
- Diversified product mix across six end-use industries (farm equipment 29.62%, general engineering 21.51%, oil & gas 12.00%, hydraulic 9.05%, automotive 6.30%, construction equipment 7.16% in FY26) and capability to forge components from 0.25 kg to 16 kg and up to 700 mm length.
- Confirmed order book of ₹2,761.15 lakhs (≈₹27.61 crore) as on June 30, 2026, with typical execution cycle of 1–3 months.
- Long-standing customer relationships: 89.10% of FY26 revenue from 102 repeat customers; customer base has grown from 98 customers in FY24 to 181 in FY26.
- Sustainability/energy hedge via a 1 MW solar power plant spread over 4 acres that supports approximately 40%–60% of total energy requirements; holds IATF 16949, ISO 14001:2015, ISO 45001:2018, PED-2014/68/EU & AD 2000 W0 and ZED Bronze certifications and provides 3.1 test certificates with shipments.
Revenue mix
The last few years in numbers
From the prospectus’s own summary financial table (restated standalone). Margins and growth are computed from the stated figures; everything else is as printed.
| Period | Revenue | Profit after tax | PAT margin | Net worth | Borrowings |
|---|---|---|---|---|---|
| FY2026 | ₹96 Cr+28% | ₹12 Cr+37% | 12.9% | ₹33 Cr | ₹32 Cr |
| FY2025 | ₹74 Cr+46% | ₹9 Cr+112% | 12.1% | ₹17 Cr | ₹28 Cr |
| FY2024 | ₹51 Cr | ₹4 Cr | 8.4% | ₹8 Cr | ₹11 Cr |
How the book stands today
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How this cohort has done
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