Advance Technoforge’s initial public offering began trading on Monday, July 27, with the issue 16% subscribed as of midday.
The forged-components manufacturer priced its equity shares at ₹95 each, setting a face value of ₹10.
The company aims to raise ₹24.03 crore through the offering to fund capacity expansion and working capital requirements.
The IPO will remain open for bidding until Wednesday, July 29.
Early subscription levels suggest cautious initial interest from investors, though SME IPOs often see significant volume shifts in the final hours of the bidding window.
The company supplies forged components to various industrial sectors, leveraging its manufacturing expertise to serve diverse client bases.