Metalic Technoforge IPO GMP Today

Metalic Technoforge Limited is engaged in the manufacturing of closed die forged and precision-machined components. Its product portfolio includes big rings, small rings, ball studs, gear blanks with broaching, gears, coupling assemblies, shafts, transmission components, hydraulic application components, and other forged and machined parts used across automotive and non-automotive industries. The company primarily supplies original equipment manufacturers (OEMs) in sectors such as automobiles, tractors, commercial vehicles, agricultural equipment, hydraulic equipment, construction machinery, oil and gas, and general engineering. Its operations cover die manufacturing, forging, heat treatment, shot blasting, precision machining, testing, and quality assurance. Metalic Technoforge operates a manufacturing facility in Rajkot, Gujarat, comprising four units, three of which are operational and one planned for future expansion. The company also operates a 1 MW solar power plant in Gujarat that currently meets a portion of its manufacturing facility’s energy requirements. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Setting up manufacturing unit IV and upgradation of existing units at Rajkot, Gujarat — Rs 30.81 crore Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company — Rs 6.72 crore General corporate purposes