Forge Auto International IPO share allotment expected on Oct 1: Here’s How to check status online

Forge Auto International Limited IPO share allotment status is expected to be finalised on Tuesday, October 1, after the public offer closed with strong demand.

The NSE SME issue was open for subscription from September 26 to September 30.

Forge Auto International Ltd received bids for more than 9.45 crore shares against 19.15 lakh shares on offer, resulting in an overall subscription of 49.35 times across investor categories.

The Non-Institutional Investors (NIIs) booked their quota 58.9 times, while the retail portion was booked 61.95 times. The Qualified Institutional Buyers (QIBs) booked their segment 20.12 times.

The investors, who applied for Forge Auto International shares, can check the IPO allotment status online on the websites of the issue registrar, Bigshare Services Pvt Ltd, and the NSE.

Steps to check Forge Auto International IPO share allotment status on NSE

• Go to the NSE IPO allotment status page by using this link www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Log in with your user ID and password (First-time users will need to create a fresh login on the NSE website)
• Select ‘Forge Auto International’ from the drop-down menu.
• Enter and verify PAN details
• Type in the IPO application Number
• Click on the ‘I am not a Robot’ checkbox
• Click on the ‘submit’ button

Here’s how to check Forge Auto International IPO share allotment on Bigshare Services Pvt Ltd website

• Go to the official website of the registrar, BigShare Services at https://www.bigshareonline.com/
• Choose the IPO allotment status option
• Select any one of the three servers
• Choose ‘Forge Auto International’ from the dropdown menu for company names
• Type in your details such as Application No, Beneficiary ID or PAN
• Enter Captcha
• Click the ‘Search button’ to see your share allotment status

It’s important to note that the company name will appear only after Forge Auto International completes the share allocation process.

After finalising the share allotment status, the company will initiate refunds for non-allottees on Thursday, October 3. Shares of the company will also be credited to the Demat accounts of successful bidders on the same day. Forge Auto International shares are scheduled to be listed on the NSE SME platform. The tentative IPO listing date has been fixed as October 4.

Forge Auto International IPO details

The IPO is worth ₹31.1 crore. The book-built issue consists of an entirely fresh issue of 28.8 lakh shares.

The price band for the IPO was fixed at ₹102 to ₹108 per share. The minimum lot size for retail investors was 1,200 shares, which aggregated to an investment of ₹1,29,600.

Forge Auto International IPO objective

Forge Auto International plans to use the money raised via the public issue to meet working capital requirements and repayment of specific borrowings availed by the company. The company also proposes to use a portion of the proceeds for general corporate purposes.

About Forge Auto International

Forge Auto International was incorporated in 2001. The company manufactures complex, safety-critical, forged, and precision-machined components which are used by multiple industries. The company serves domestic and global original equipment manufacturers (OEMs) engaged in the manufacturing of automotive and non-automotive parts. The company had 366 employees as of March 31, 2024.