Metalic Technoforce Sets Price Band for Upcoming IPO as Manufacturing Expansion Takes Center Stage
Gujarat-based manufacturing specialist Metalic Technoforce has officially announced its maiden public issue to the investors. The company is set to open its subscription window between July 21 and July 23, with a determined price band of Rs 72 to Rs 77 per share.The issuance represents an entirely fresh issue consisting of 64.88 lakh shares. At the upper price band, the company aims to raise nearly Rs 50 crore through this initial public offering.
Prospective investors can also participate in the anchor book, which will be launched for a single day on July 20. The company has appointed Smart Horizon Capital Advisors as the merchant banker to oversee the management of the IPO process.
Strategic Expansion and Manufacturing Capabilities
Established in 2016, Metalic Technoforce has carved out a significant presence in the manufacturing of closed die forged and precision-machined components. Its product portfolio includes critical items such as rings, ball studs, gears, and coupling assemblies.The company caters to a diverse range of industries, including automotive, farm equipment, hydraulic systems, construction machinery, and general engineering. It serves both domestic and global original equipment manufacturers with its specialized component production.
Currently, the firm operates through three manufacturing units. These facilities are equipped for essential processes including forging, heat treatment, shot blasting, quality control, raw material storage, and die manufacturing.
Deployment of IPO Proceeds for Growth
The management has outlined a clear roadmap for the utilization of the net proceeds from the issue. A significant portion, amounting to Rs 30.8 crore, is earmarked for the establishment of a proposed Manufacturing Unit IV.Furthermore, the company intends to allocate Rs 6.72 crore specifically for the repayment of existing loans. The remaining funds from the IPO will be utilized for general corporate purposes to support ongoing operations.
This capital infusion is expected to facilitate the upgradation of existing manufacturing facilities located in Rajkot. These investments are central to the company's strategy of scaling its production capabilities and operational efficiency.
Listing Timeline and SME Segment Activity
The equity shares of Metalic Technoforce are scheduled to be listed on the NSE Emerge platform on July 28. This marks a notable listing for the company as it expands its footprint in the public markets.This offering arrives during a period of heightened activity in the SME segment. It follows the recent Gulf Lloyds (India) IPO, marking the second major offering scheduled to open next week.
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