Gujarat's Metalic Technoforge opens IPO July 21-23 to raise ₹50cr
Business
Metalic Technoforge, a Gujarat-based auto parts maker, is opening its IPO from July 21-23, offering nearly 65 lakh shares priced between ₹72 and ₹77.
They're aiming to raise up to ₹50 crore, with early anchor investors getting first dibs on July 20.
Metalic Technoforge uses proceeds for upgrades
Most of the funds, about ₹30.8 crore, will help build a fourth factory and upgrade its Rajkot plant.
Around ₹6.72 crore will clear some loans, and the rest covers general business needs.
Founded in 2016, Metalic Technoforge makes gears and coupling parts for cars and construction machines in India and abroad.
Their shares are set to list on NSE Emerge on July 28.