Metalic Technoforge IPO subscribed 8.47 times on Day 3 as NII demand surges to 17.07x

Metalic Technoforge Limited's initial public offering (IPO) closed with an overall subscription of 8.47 times by 5:24 PM on Day 3 (July 23, 2026). The ₹49.96 crore book-built issue, priced at ₹72 to ₹77 per share, received bids for 3,66,03,200 shares against 43,20,000 shares on offer. Non-Institutional Investors (NIIs) led demand with a robust 17.07 times subscription, followed by Individual Investors at 7.00 times, while QIBs (Ex-Anchor) subscribed 4.58 times, reflecting strong investor interest across all categories on the final day.

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Subscription Status of Metalic Technoforge IPO

Here are the subscription details for Metalic Technoforge IPO Day 3, as of 5:24 PM:

Key Highlights – Day 3

• Overall subscription stood at 8.47 times on Day 3 (July 23, 2026), indicating strong investor demand for the Metalic Technoforge IPO.
• Qualified Institutional Buyers (Ex-Anchor) subscribed 4.58 times, bidding for 56.46 lakh shares worth approximately ₹43.48 crore.
• Non-Institutional Investors (NIIs) emerged as the strongest segment, subscribing 17.07 times with bids for 1.58 crore shares valued at around ₹121.97 crore.
• Individual Investors subscribed 7.00 times, bidding for 1.51 crore shares worth approximately ₹116.40 crore.
• Anchor investors had fully subscribed their allocated portion before the issue opened, with 18.40 lakh shares allotted, providing a strong institutional base ahead of the public subscription.
• Overall, investors bid for 3.66 crore shares against 43.20 lakh shares available in the public issue, resulting in an overall subscription of 8.47x.

Key Highlights – Day 2

• Overall subscription improved to 0.85 times on Day 2 (July 22, 2026), reflecting stronger participation compared with the opening day.
• Qualified Institutional Buyers (Ex-Anchor) subscribed 0.48 times, marking the first meaningful institutional participation in the issue.
• Non-Institutional Investors (NIIs) increased their subscription to 0.63 times, showing improved demand from high-net-worth investors.
• Individual Investors emerged as the leading category with 1.17 times subscription, fully subscribing their reserved portion by the second day.
• Anchor investors remained fully subscribed, with 18.40 lakh shares allotted before the IPO opened.
• Overall, the issue remained just short of full subscription at 0.85x, setting the stage for a strong final day.

Key Highlights – Day 1

• Overall subscription stood at 0.37 times on Day 1 (July 21, 2026), indicating a subdued response on the opening day of the Metalic Technoforge IPO.
• Qualified Institutional Buyers (Ex-Anchor) remained unsubscribed at 0.00 times, with no bids received during the session.
• Non-Institutional Investors (NIIs) subscribed 0.30 times, while Individual Investors led demand with a 0.62 times subscription.
• Anchor investors had fully subscribed their allocated portion before the issue opened, providing a solid institutional base for the offering.
• Overall, the issue was subscribed 0.37 times, with retail participation outperforming institutional demand on the first day.

About Metalic Technoforge Limited

Incorporated in October 2016, Metalic Technoforge Ltd. manufactures closed-die forged and precision-machined components. The company's product portfolio includes complex, safety-critical forged and precision-machined products such as big and small rings, ball studs, gear blanks with broaching, gears, coupling assemblies, and other critical components for various industries. The company serves domestic and global OEMs across automotive and non-automotive sectors. Automotive OEMs include manufacturers of automobiles, tractors, and commercial vehicles. Non-automotive OEMs include manufacturers of agricultural equipment, hydraulic equipment, construction machinery, and general engineering products.