| The scrip was listed at Rs 239.40, up 90% over the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price. The counter hit a high of Rs 251.35 and a low of Rs 239.40. About 7.23 lakh shares of the company changed hands at the counter. Amic Forging's IPO was subscribed 192.29 times. The issue opened for bidding on 29 November 2023 and it closed on 1 December 2023. The price band of the IPO was fixed between Rs 121 to 126 per share. The equity shares will be listed on the SME platform of BSE. The IPO comprised fresh issue of 27,62,000 shares. The promoter and promoter shareholding diluted to 42.20% from 57.29% pre-IPO. The company intends to utilize the net proceeds to meet working capital requirements, setting up of manufacturing facility and general corporate purpose. Ahead of the IPO, Amic Forging on 28 November 2023, raised Rs 9.90 crore from anchor investors. The board allotted 7.86 lakh shares at Rs 126 per share to 4 anchor investor. Amic Forging is a manufacturer in the forging industry and is engaged in the manufacturing of forged components catering to various industries. It manufactures precision machined components as per customer specifications and international standard catering to the requirements of various industry such as heavy engineering, steel industry, oil & gas, petrochemicals, chemicals, refineries, thermal power, nuclear power, hydro power, cement industry, sugar and other related industries. As of 30 June 2023, the company has 80 employees consisting of 56 permanent employees and 24 temporary labour. The company recorded revenue from operations of Rs 29.54 crore and net profit of Rs 3.59 crore for the period as on 30 June 2023. Powered by Capital Market - Live News |