Forefront Limited receives BSE approval for SME IPO launch

Forefront Limited has received in-principle approval from BSE for its SME IPO launch. The company plans to issue 6.5 million fresh equity shares with a face value of ₹10 each.

Forefront Ltd, is an automotive component manufacturer specializing in electromechanical and power electronics products for the electric vehicle (EV) and industrial automotive sectors.

The IPO proceeds will be used to part-finance a new project called Project FF, fund incremental working capital requirements, invest in its wholly owned subsidiary for Project EV financing, and support general corporate purposes.

Beeline Capital Advisors is the book-running lead manager, while MUFG Intime India is the registrar for the issue.