Amic Forging Ltd IPO

Amic Forging Limited was originally incorporated on June 19, 2007 as a private limited company in the name of Kali Mata Forging Private Limited under the provisions of the Companies Act, 1956 with the Registrar of Companies, West Bengal. Further, the company changed its name from Kali Mata Forging Private Limited to Amic Forging Private Limited through a special resolution passed by its shareholders in an Extra Ordinary General Meeting held on January 02, 2017. The registrar of companies, Kolkata, issued a fresh certificate of incorporation dated January 09, 2017. Subsequently, pursuant to a special resolution of its Shareholders passed in the Extra Ordinary General Meeting held on January 04, 2023 the Company was converted from a private limited company to public limited company and the name of the Company was changed to Amic Forging Limited and a fresh certificate of incorporation consequent to conversion was issued on August 09, 2023 by the Registrar of Companies, Kolkata bearing Corporate Identification Number U27100WB2007PLC116674.

The forging of metal has been a standard practice for metal forming and shaping for centuries. It is a suitable method for producing components that are to be used in challenging applications having high pressure, force, and temperature. The market for metal forgings is driven by a rise in the automotive industry, and a rise in energy sectors such as oil & gas refineries, and thermal power plants. Industries in the energy sector utilize various industrial components such as flanges, fittings, valves, studs and nuts, pressure vessels, pipes, and many others which are commonly made using the forging process. Gulf countries and countries in Latin America are few of the major oil & gas producers, and demand for forged metal components in these regions is anticipated to rise with various planned and ongoing oil & gas projects. For instance, in March 2022, Aramco along with North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group planned to develop a petroleum refinery with 300,000 bpd capacity. Similarly, Kineticor Resources Corp. is developing and constructing a gas-fired power plant in Edson, Alberta, Canada. The estimated total cost of the project is expected to be $1.5 billion, which is projected to be completed by 2025. These projects are expected to demand forged metal flanges, fittings, valves, studs and nuts, pressure vessels, and others. Furthermore, the automotive industry is witnessing a rise owing to the rising disposable income of people, and rising urbanization. For instance, in January 2023, the total sales volume of vehicles was 1,065,937 units, which increased to 1,384,676 units in March 2023, an increase of nearly 30%. Moreover, India and China have emerged as major automotive markets in the last decade. According to International Energy Agency, India has approximately 25 vehicles per thousand people as of 2020, and the number is expected to cross 150 vehicles by the year 2040. The automotive industry makes extensive use of forged metal components, such as engine components, transmission components, suspension components, and body sheet. Thus, growth in automotive industry is anticipated to drive metal forging market growth, and is also expected to improve the metal forging market outlook. However, limitations of the metal forging process are anticipated to restrain the metal forging market growth in the coming years. For example, producing a complicated shaped component, and a component with good surface finish are difficult to achieve with forging process. In addition, metal forging is slow as compared to other methods.

Amic Forging Limited is a manufacturer in forging industry and is engaged in manufacturing of forged Components catering to various industries. The Company 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. Its product diversity helps the company to maintain an edge over competition, since the company can provide customized and specialized solutions to its customers. Further, the company is planning to expand via backward integration with starting the manufacturing of Steel Melting & Ingot Casting this backward integration would increase its product base and also increase its output due to easily availability of raw material. With a large infrastructure, zero tolerance quality policies and an energetic team of experts, the Company makes sure that it can fulfil any special customer requirements for various critical product applications.