Advance Technoforge Ipo
Advance Technoforge IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Sun Capital Advisory Services Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | July 27, 2026 |
| IPO Close Date | July 29, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹95 Per Share |
| Issue Size | Approx ₹24.03 Crores |
| Fresh Issue | Approx ₹24.03 Crores |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,28,000 |
| Retail Maximum | 2 | 2,400 | ₹2,28,000 |
| S-HNI Minimum | 3 | 3,600 | ₹3,42,000 |
| Investor Category | Share Offered | -% Shares |
| NII Shares Offered | 12,00,000 Shares | 47.44% |
| Retail Shares Offered | 12,00,000 Shares | 47.44% |
| IPO Open Date: | July 27, 2026 |
| IPO Close Date: | July 29, 2026 |
| Basis of Allotment: | July 30, 2026 |
| Refunds: | July 31, 2026 |
| Credit to Demat Account: | July 31, 2026 |
| IPO Listing Date: | August 3, 2026 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 25,29,600 | 100% |
| Promoter Holding Post Issue | – | 71.99% |
| Purpose | Crores |
| Purchase and installation of machinery for manufacturing of precision machine components at the Existing Premises (Including GST) | ₹6.08 |
| Part Funding of working capital requirements | ₹5.00 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹48.24 | ₹45.97 | ₹1.70 | ₹28.65 |
| 2025 | ₹51.16 | ₹47.63 | ₹2.70 | ₹39.51 |
| 2026 | ₹50.73 | ₹45.20 | ₹4.06 | ₹46.92 |
| KPI | Values |
| ROE: | 30.33% |
| ROCE: | 22.52% |
| EBITDA Margin: | 16.69% |
| PAT Margin: | 8.11% |
| Debt to equity ratio: | 1.29 |
| Earning Per Share (EPS): | ₹6.24 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.33% |
| Net Asset Value (NAV): | ₹20.59 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Tirupati Forge Limited | 0.51 | 93.56 | 5.24% | 10.53 | 162.48 Cr. |
| Forge Auto International Limited | 9.91 | 9.39 | 17.00% | 63.23 | 226.13 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |