Metalic Technoforge IPO
Castings, Forgings & Fastners • ₹50cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹21-23
Lot Size
1600 shares
Issue Size
₹50cr
Open
21 Jul 2026
Close
23 Jul 2026
Subscription
7.78×
GMP +₹6 → est. ₹29
IPO Schedule
| Issue Open Date | 21 Jul 2026 |
| Issue Close Date | 23 Jul 2026 |
| Allotment Date | 24 Jul 2026 |
| Listing Date | 28 Jul 2026 |
About Metalic Technoforge
Incorporated in 2016, Metalic Technoforge Limited is an Indian manufacturer specialising in precision-engineered forged and machined metal components. The company’s core business operations comprise forging, heat treatment, and precision machining processes. It serves domestic and international original equipment manufacturers (OEMs) across multiple industrial sectors, including farm equipment, general engineering, oil and gas, hydraulic cylinders, and construction equipment. Metalic Technoforge generates its revenue through the sale of key products such as gears, transmission components, hydraulic application parts, and general engineering components, alongside processing fees earned from custom job work services. Operating from its integrated manufacturing facilities in Rajkot, Gujarat, the company has established a specialised market presence supported by international quality certifications like IATF 16949:2016 and PED-2014/68/EU, serving prominent industrial hubs in states like Gujarat and Maharashtra, as well as export markets including Germany and the United States.
Company Details
Founders / Promoters
Mr Gajipara Keyur Dhirajlal
Founded
2016
Registrar
BIGSHARE
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Metalic Technoforge — IPOFins Verdict
QuantitativeDriven by QIB demand at 4.6x and moderate disclosed risk (6/10), Metalic Technoforge listed at a premium of 278.3% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- Serves prominent automotive and industrial original equipment manufacturers in both domestic and international markets.
- Houses forging, heat treatment, and precision machining processes within an integrated manufacturing system in Rajkot.
- Holds premium international engineering accreditations including IATF 16949:2016 and pressure equipment certifications.
- Supplies critical metal components to diverse industries, including farm equipment, hydraulics, and oil and gas sectors.
- Utilises in-house infrastructure for tooling, die manufacturing, and specialised design simulation software.
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +1.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
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
₹23
Listing Price
₹87
Listing Gain/Loss
+278.26%
Listing Date
28 Jul 2026
Price Since Listing
Returns are measured against the ₹23 issue price.
Listing
₹87
+278.3%
Current
₹91.55
+298.0%
Want to buy this stock?
Trade Metalic Technoforge on the secondary market
FAQ
What is the price band of Metalic Technoforge IPO?
The price band is ₹21-23 per share with a lot size of 1600 shares. Minimum investment: ₹36,800.
What does Metalic Technoforge do?
Incorporated in 2016, Metalic Technoforge Limited is an Indian manufacturer specialising in precision-engineered forged and machined metal components. The company’s core business operations comprise forging, heat treatment, and precision machining processes. It serves domestic and international original equipment manufacturers (OEMs) across multiple industrial sectors, including farm equipment, general engineering, oil and gas, hydraulic cylinders, and construction equipment. Metalic Technoforge generates its revenue through the sale of key products such as gears, transmission components, hydraulic application parts, and general engineering components, alongside processing fees earned from custom job work services. Operating from its integrated manufacturing facilities in Rajkot, Gujarat, the company has established a specialised market presence supported by international quality certifications like IATF 16949:2016 and PED-2014/68/EU, serving prominent industrial hubs in states like Gujarat and Maharashtra, as well as export markets including Germany and the United States.
Should I apply for Metalic Technoforge IPO?
Metalic Technoforge listed at ₹87 (+278.3% premium to the ₹23 issue price) after 7.8x subscription. IPOFins Score 7/10: Driven by QIB demand at 4.6x and moderate disclosed risk (6/10), Metalic Technoforge listed at a premium of 278.3% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Metalic Technoforge?
Metalic Technoforge was founded by Mr Gajipara Keyur Dhirajlal in 2016.