Kay Jay Forgings IPO - Date, Price Band & Details

Kay Jay Forgings is a Ludhiana-based manufacturer of forged and machined auto components, mainly crankshafts for two-wheelers, three-wheelers, and tractors. It supplies TVS Motor, Honda, and Mahindra, and runs six plants across Ludhiana and Hosur.

Company Strengths

The company holds roughly 36% of the Indian two-wheeler crankshaft market. In a sector where supplier relationships often run for 15–20 years, Kay Jay's OEM ties translate directly into predictable order books. Its plants handle everything from raw forging to final machining, which tightens quality control and keeps margins from leaking to third-party processors.

The plant footprint — Ludhiana in the north, Hosur in the south — puts the company within reach of India's two main auto manufacturing belts. That proximity trims logistics costs and improves response time when OEM schedules shift.

Growth Strategy

IPO funds are going into two areas: a new forging and machining facility in Ludhiana, and a captive solar plant. The solar investment is practical rather than symbolic — electricity is a meaningful cost in forging operations.

The company is developing EV components as two-wheeler makers gradually shift away from petrol engines. Crankshafts have no place in an electric drivetrain, so this transition is a genuine medium-term pressure on the core business. How quickly EV-related revenue materializes will matter more than the fact that development has started.

Beyond auto parts, Kay Jay is moving into farm equipment, mining machinery, and consumer appliances — a reasonable hedge against concentration in a single end market.