Metalic Technoforge IPO 33% subscribed day 1, NIIs drove demand
Metalic Technoforge's IPO kicked off with 33% subscription on day one; most of the action came from non-institutional (big) investors at 59%, while regular retail folks showed less interest at just 29%.
Out of the total 46.48 lakh shares on offer, only about one-third were snapped up through 423 applications.
Issue priced ₹72-77, seeks 50L/cr
Shares are priced between ₹72-77 each, with the company hoping to raise ₹50 crore before bids close on July 23, 2026.
Metalic Technoforge, founded in 2016 and making auto and industrial parts like ball studs and gears, plans to use most of the funds for building a new plant and upgrading its Rajkot facility, plus a chunk will go toward paying off loans.
Before launch, they already raised ₹14.16 crore from anchor investors like Aarth AIF Growth Fund and Brescon Opportunities Fund.