AMIC FORGING LIMITED– SME IPO at BSE SME to open on November 29, 2023

Mumbai (Maharashtra) [India], November 28: IPO is set to commence on Wednesday, November 29, 2023, and will conclude on Friday, December 01, 2023. The IPO comprises an issue size of up to Rs. 34.80 crores, featuring 27,62,000 Fresh Issue Equity Shares. The Anchor Allocation shall take place on Tuesday, November 28, 2023.

 The book-running Lead Manager to the issue is Gretex Corporate Services Limited. Net proceeds from IPO Funds will be utilized for Setting up of the Manufacturing facility (Rs. 2,235.20 Lakhs), Working Capital (Rs. 750.00 Lakhs), and balance for general purposes.

Amic is engaged in the manufacturing of forged Components. They manufacture precision machined components as per customer specifications and International Standards catering to the requirements of customers. 

The products that are manufactured by the company are Main Shaft for Wind Energy, Drum Tube Sheet, Forged Shell, Tube Sheet, Nozzle for Oil & Gas and Trunnion for Nuclear Power Plant which are mainly used in various industry such as Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry etc. 

The India metal forging market size was valued at USD 3.86 billion in 2021. The market is projected to grow from USD 4.32 billion in 2022 to USD 8.80 billion by 2029, showing a CAGR of 10.69% during the forecast period.

Key Highlights

● The company excels in manufacturing forging components according to international standards like AISI, BS, IS, and DIN. 

● With a well-established design center equipped with the latest 3D software and staffed by highly trained technicians, Company is dedicated to delivering superior quality products.

● Excelling in manufacturing tailor-made products. 

● The products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel and Tools Alloys.

● Vision is to provide top-notch products to clients while expanding the range of services by venturing into various other industries. 

● Experienced and dedicated senior team across key functions

● Long-standing relationship with our existing clientele

The Company has grown its revenue from operations has grown from ₹ 2,643.37 lakhs in fiscal 2021 to ₹ 11,683.01lakhs in fiscal 2023, EBITDA has grown from ₹ 154.42 lakhs in fiscal 2021 to ₹ 1,454.55 lakhs in fiscal 2023, while Profit after tax from ₹ 56.27 lakhs in fiscal 2021 to ₹ 980.01 lakhs in fiscal 2023 on a consolidation basis. IN FY23 company has EBITDA margins of 12.45% and PAT margins of 8.39%.

If you have any objection to this press release content, kindly contact to notify us. We will respond and rectify the situation in the next 24 hours.


Mitul Doshi – Navigating Success in the Export Odyssey

Surat (Gujarat) [India], February 20: Hailing from Bombay Chemicals, Mitul Doshi embarked on his export journey in 2014, navigating a diverse array of businesses, from stock market advising to owning a restaurant. Resilience became his ally as he transitioned from a local player to a serial exporter, firmly establishing his brand, ‘The Indian Exporter’. Mitul […]

Read More

IMMA Summit discusses ‘Ease of Doing Business’ and Unveils AI-Driven Drones and Digitization as the Future of Farming in India

Mumbai (Maharashtra) [India], February 17: The Indian Micro Fertilizers Manufacturers Association (IMMA) concluded its 4th National Crop Nutrition Summit in Mumbai, unveiling a series of agritech innovations that echo Prime Minister Narendra Modi’s vision of revolutionizing Indian agriculture with drone technology. This landmark event marked the debut of sophisticated AI-driven drones and digital soil scanning […]

Read More

Top Invisalign Provider ‘Asian Dental’ offers Invisalign Aligners at an unbelievable price!

Hyderabad (Andhra Pradesh) [India], February 16: If you’re on the quest to achieve a straighter smile, you may find yourself exploring the option of using Invisalign, an orthodontic appliance renowned for its effectiveness. A series of clear aligners, Invisalign is a popular alternative to traditional braces.  The importance of perfectly aligned teeth extends beyond mere […]

Read More