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Metalic Technoforge IPO

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GMP is an informal figure from outside SEBI's framework. Not investment advice.

About this issue

Metalic Technoforge listed at +13.0% against its issue price of ₹77. The book is 8.47 times subscribed overall. The grey market premium is +₹6 (+7.8%), which is an informal figure and not a quoted price. Our call is Risky, on 67% of our checks.

Segment: SME
Price: ₹77
Lot size: 1,600 shares
One lot costs: ₹1,23,200
Issue size: ₹47 Cr
Grey market premium: +₹6 (+7.8%)
Subscribed: 8.47x
Listed at: +13.0%
Our call: Risky

What we checked

Profitable in the latest yearPAT ₹12.36 Cr
Profit grew year on yearPAT +37%
Revenue grew year on yearRevenue +30%
Margin not collapsingPAT margin 12.9% vs 12.1%
Borrowing under half of net worthDebt/net worth 0.95
Return on net worth above 15%RoNW 37.0%
Post-issue P/E under 40P/E 14.9
Price to book under 6P/B 4.0
Majority is fresh capital100% fresh issue
Promoters keep at least half61.0% held post-issue
Anchor investors participatedAnchor book placed
Overall book more than 10× covered8.5× overall
Lead manager above segment medianSmart Horizon Capital Advisors Pvt.Ltd.: 24 past issues, +7% avg vs +8% segment median

2 further checks could not be judged, because the issue did not disclose enough. They count neither for nor against.

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