Metalic Technoforge’s initial public offering opened on Tuesday, July 21, with the issue 28% subscribed as of midday.
The company has set a price band of ₹72 to ₹77 per equity share, with a face value of ₹10.
The offering comprises 64.88 lakh shares and will remain open for bidding until Thursday, July 23.
The company intends to use the net proceeds from the issue to fund facility upgrades and repay existing debt.
Early subscription levels suggest cautious initial interest, though final demand often accelerates in the closing hours of Indian IPOs.
This launch comes amid a mixed backdrop for Indian primary markets.