Forge Auto International IPO Allotment: Details and How to Check Your Status

IPO Allotment Result

The Initial Public Offering of Forge Auto International has ended. It shut the subscription process, and the investors are all waiting for the allotments. Here is all that you need to know:

IPO Details: Forge Auto International IPO was a book-building issue worth ₹31.10 crores, which consisted of only a fresh issue of 2,880,000 equity shares. The price band had been set at ₹102 to ₹108 per share.
Subscription Status: The issue was subscribed more than 49 times on the last day of the bidding process, which well and truly shows the interest of investors in the issue.

Tentative Date of Allotment: The allotment is expected to be done on Tuesday, 1 October 2024. The shares post allotment are expected to be credited in the demat account of the investors by October 3, 2024.
Listing Date: The shares of Forge Auto International will be listed on NSE SME platform on October 4, 2024.

GMP: Grey Market Premium: GMP for Forge Auto International was at ₹15 as on the latest info available, which translates to a 13.89% premium over the upper IPO price band, which is reassuring for the market’s feelings of the listing.

Check Your Allotment Status on Investorspring.com

Access Investorspring.com: Click on your IPO Allotment page.
Fill in details: Fill in your application number, PAN, or DP ID and client ID if available.
Check Status: After filling all the necessary details, you can check if you have been allotted shares in the Forge Auto International IPO.

What this indicates to investors:

High Subscription: The higher subscription level exhibited confidence in the market with regards to the potential prospects of Forge Auto International in terms of manufacturing complex automotive componentry.
Listing Expectation: Based on the GMP of the company, the positive listing is expected. However, investors need to be careful with the market conditions since it keeps on changing with time.
Investment Opportunity: Forge Auto International’s IPO offers a very early investment opportunity to the firms that have achieved international criteria such as ISO 9001:2015, ISO 14001:2015, and IATF 16949:2016. These are all proofs that the companies value quality and sustainability over everything else.

Conclusion

So, Forge Auto International’s IPO also received loads of attention and accolades from the markets concerned. It thus goes well for its business model as well as in its market position. It is also the case for those applicants who have to check their allotment status on the investor platform like Investorspring.com. And while the GMP is positive at this juncture for listing, the market dynamics may change the actual outcome. So, stay tuned for more updates.