Sanjay Bambhaniya · Jul 22, 2026

Advance Technoforge IPO Review | APPLY or AVOID?

SME Fixed Price Upcoming

Electric Equipments - OEM

BSE SME

Price Band

₹95 - ₹95

Issue Size

₹24.03 Cr

Lot Size

1200

Min. Investment

₹1,14,000

Live GMP ₹5.50

5.79% Est. Listing: ₹100.50

SIP Calc Compare

IPO Timeline

DRHP FILED December 23, 2025

OPEN July 27, 2026

CLOSE July 29, 2026

ALLOTMENT July 30, 2026

LISTING August 3, 2026

IPO DETAILS REVIEW GMP SUBSCRIPTION ALLOTMENT STATUS

Advance Technoforge IPO Review

Advance Technoforge Ltd. started in 2013. It operates in the Electric Equipments – OEM industry and provides forged and precision machined parts to its customers across global markets. This business is based in Rajkot. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio. Updated review will be available soon.

Strengths & Risks

Strengths

Experienced management leadership team

Integrated production capabilities

Raw material price volatility

3 Strengths Competitive Edge

Financial Update

The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹– crore increased/decreased from ₹48.24 in previous year. The net profit for the same period was ₹– crore increased/decreased from ₹1.70 in previous year. Assets increased by –% compared to the previous year. This trend should be carefully studied prior to any investment. Updated review will be available soon.

IPO Valuation

The upper price band is ₹95. This price leads to a Price-to-Earnings (P/E) ratio of 15.22. The average P/E for the industry is –. Updated review will be available soon.

IPO Objective

Company will use Offer proceeds to meet stated objectives:

The company will spend 6.08 crore rupees on new machinery purchase.

The firm will use 5.00 crore rupees for working capital needs.

Promoters & Lead Manager

Nilesh Shambhubhai Moliya, Pradipbhai Bhikhabhai Vora, Daxaben Nileshbhai Moliya and Kajal Alpesbhai Moliya are the company’s promoters.

Sun Capital Advisory Services Pvt.Ltd. manages the offer as the lead manager.

Kfin Technologies Ltd. is the Registrar.

Peer Comparison

Below is the comparison of the company with its listed peers using data from March 31, 2026. Updated review will be available soon.

Company Name	NAV (₹ per share)	P/E (x)	RoNW (%)	P/BV Ratio
Advance Technoforge Ltd.	20.59	15.22	30.33	4.75
Tirupati Forge Limited	10.53	93.56	5	–
Forge Auto International Limited	63.23	9.39	17	–

IPO Review & Analyst Rating

Updated review will be available soon.

Analyst Name	Recommendation
–	–
–	–
–	–

Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.

Sanjay Bambhaniya

Sanjay has 8+ years of experience in data-driven IPO insights. His expertise in digital marketing and web development complements his financial knowledge and helps him to develop effective fintech solutions. He is an entrepreneur and director who helps investors understand complex primary market trends in easy-to-understand IPO reports, news, and updates.

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