Advance Technoforge IPO
Castings, Forgings & Fastners • ₹24.03 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Muted IPO demand (1.5x overall subscription)
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹95
Lot Size
1200 shares
Issue Size
₹24.03 Cr
Open
27 Jul 2026
Close
29 Jul 2026
Subscription
1.52×
IPO Schedule
| Issue Open Date | 27 Jul 2026 |
| Issue Close Date | 29 Jul 2026 |
| Allotment Date | 30 Jul 2026 |
| Listing Date | 02 Aug 2026 |
About Advance Technoforge
Advance Technoforge Limited is a manufacturer of forged and precision machined components for original equipment manufacturers (OEMs) across the automotive, oil and gas, railways, earthmoving, agriculture, power transmission, construction machinery, and industrial equipment sectors. The company manufactures components according to customer specifications and international standards, with additional processing capabilities such as powder coating, CED coating, galvanising, plating, polishing, passivation, ultrasonic cleaning, and machining. Its product portfolio includes tow hook assemblies, valve bodies, steering knuckles, connecting rods, bearing housings, gear shifter forks, hydraulic components, flanges, and other engineered parts used in a range of industrial applications. The company manufactures products using materials such as carbon steel, alloy steel, stainless steel, and bearing steel. Its manufacturing facility has a forging capacity of 6,000 MT per year and operates through three production lines equipped for forging, heating, trimming, and precision machining.
Company Details
Founders / Promoters
Mr Nilesh S. Moliya
Founded
2013
Registrar
KFin Technologies Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Advance Technoforge — IPOFins Verdict
QuantitativeDriven by overall subscription of 1.5x and elevated disclosed risk (9/10), Advance Technoforge listed at a discount of 1.1% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company manufactures precision forged and machined components for multiple industries. It serves OEMs across the automotive, oil and gas, railways, earthmoving, agriculture, power transmission, an
- The company claims to have an integrated manufacturing facility with a forging capacity of 6,000 MT per year. It operates three production lines equipped with forging, heating, trimming, and machining
- The company claims to have the capability to manufacture high-precision safety-critical components. According to the prospectus, it supplies components used in commercial vehicles, farm equipment, off
- The company holds multiple quality and industry certifications. It is certified to IATF 16949 for automotive quality management systems, ISO 9001 for quality management systems, PED 2014/68/EU and AD
- The company claims to have long-standing relationships with both customers and suppliers. It states that it receives repeat orders from customers across domestic and export markets and attributes thes
Score breakdown — what drove this verdict
High risk from DRHP → score -1.6
Total demand signal → score 0
Actual listing outcome → score −0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹95
Listing Price
₹94
Listing Gain/Loss
-1.05%
Listing Date
02 Aug 2026
Price Since Listing
Returns are measured against the ₹95 issue price.
Listing
₹94
-1.1%
1 Week
₹72.75
-23.4%
1 Month
₹68.65
-27.7%
Current
₹64.12
-32.5%
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FAQ
What is the price band of Advance Technoforge IPO?
The price band is ₹95 per share with a lot size of 1200 shares. Minimum investment: ₹1,14,000.
What does Advance Technoforge do?
Advance Technoforge Limited is a manufacturer of forged and precision machined components for original equipment manufacturers (OEMs) across the automotive, oil and gas, railways, earthmoving, agriculture, power transmission, construction machinery, and industrial equipment sectors. The company manufactures components according to customer specifications and international standards, with additional processing capabilities such as powder coating, CED coating, galvanising, plating, polishing, passivation, ultrasonic cleaning, and machining. Its product portfolio includes tow hook assemblies, valve bodies, steering knuckles, connecting rods, bearing housings, gear shifter forks, hydraulic components, flanges, and other engineered parts used in a range of industrial applications. The company manufactures products using materials such as carbon steel, alloy steel, stainless steel, and bearing steel. Its manufacturing facility has a forging capacity of 6,000 MT per year and operates through three production lines equipped for forging, heating, trimming, and precision machining.
Should I apply for Advance Technoforge IPO?
Advance Technoforge listed at ₹94 (-1.1% discount to the ₹95 issue price) after 1.5x subscription. IPOFins Score 2/10: Driven by overall subscription of 1.5x and elevated disclosed risk (9/10), Advance Technoforge listed at a discount of 1.1% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Advance Technoforge?
Advance Technoforge was founded by Mr Nilesh S. Moliya in 2013.