The subscription for AMIC Forging Limited's IPO opened on Wednesday, November 29, and is scheduled to close on December 1, Friday. The SME IPO subscription will be open from 10 am to 5 pm over the course of three trading days. Investors have the option to bid for a minimum of 1000 shares and multiples thereof.
Price Range: The price range for AMIC Forging Limited IPO falls between Rs 121 to Rs 126.
Face Value: Each equity share holds a face value of Rs 10.
Day 1: The subscription status of AMIC Forging stood at 5.20 times. Retail investors showed keen interest by subscribing 6.65 times their portion, while non-institutional buyers subscribed 4.02 times, as per chittorgarh.com data. Qualified Institutional Buyers (QIBs) subscribed 3.53 times to the issue.
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The AMIC Forging Limited IPO, valued at Rs 34.80 crore, comprises entirely a fresh issue of 2,762,000 equity shares, as stated in the RHP, without any offer for sale (OFS) component.
Grey Market Premium (GMP): As per investorgain.com, the GMP for AMIC Forging Limited on Wednesday stood at +30, suggesting it's trading at a Rs 30 premium. Based on the upper end of the IPO price band, the estimated listing price for AMIC Forging shares is projected at Rs 156, marking a 23.81 percent increase from the IPO price of Rs 126.
About the company
Incorporated in 2007, AMIC Forging Limited is a leading manufacturers of Open Forgings from India. The company specializes in crafting precision machined parts compliant with both international standards and customized requirements, serving a wide array of sectors including heavy engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries.
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