Munish Forge Ltd. IPO Details – Price, Date, GMP & Analysis
Listed
SME
Price Range:
Rs.96
Issue Size:
Rs.73.92 Cr
Lot Size:
1200 shares
Open Date:
September 30
Munish Forge Ltd. IPO Overview
Bidding Dates
September 30 - October 3
Min Investment
₹115,200
Price Range
₹96
Issue Size
₹73.92 Cr
IPO DRHP Doc
Company Overview
Incorporated in July 1986, Munish Forge Limited manufactures components such as flanges, scaffolding, auto parts, and tank tracks, serving industries like defence, oil and gas, and construction. The company holds certifications like ISO 9001:2015 and IATF-16949-2016, ensuring compliance with international standards. Munish Forge exports products globally and employs modern manufacturing techniques to enhance efficiency and minimize environmental impact. As of March 31, 2025, the company has 754 employees.
IPO Timeline
Opens
Sep 30
Closes
Oct 3
Allotment
Oct 6
Refunds
Oct 7
Shares Credit
Oct 7
Listing
Oct 8
Opens
Sep 30
Closes
Oct 3
Allotment
Oct 6
Refunds
Oct 7
Shares Credit
Oct 7
Listing
Oct 8
Latest Subscription Data
| Category | Subscription | Status |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 0.36x | Undersubscribed |
| NII (Non-Institutional Investors/HNI) | 0.52x | Partially Subscribed |
| RII (Retail Individual Investors) | 0.11x | Undersubscribed |
| Total Subscription | 0.27x | Undersubscribed |
Last updated: Sep 30, 2025, 06:56 PM
Current GMP:
No Premium
Est. Listing:
Rs.96
Est. Gain:
0%
Star Rating:
★★★★★(0/5)
Financial Information
Financial Data Table
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Assets | ₹161.54 Cr | ₹113.09 Cr | ₹106.88 Cr |
| EBITDA | ₹24.36 Cr | ₹11.43 Cr | ₹9.14 Cr |
| NET Worth | ₹67.4 Cr | ₹40.52 Cr | ₹35.94 Cr |
| Profit After Tax | ₹14.3 Cr | ₹4.39 Cr | ₹1.97 Cr |
| Reserves and Surplus | ₹49.69 Cr | ₹30.89 Cr | ₹26.3 Cr |
| Total Borrowing | ₹60.2 Cr | ₹47.16 Cr | ₹50.22 Cr |
| Total Income | ₹178.63 Cr | ₹161.58 Cr | ₹161.18 Cr |
Financial data is visualized in the chart above
Strengths & Risks Analysis
Key Strengths
Competitive advantages and positive aspects
- 40+ years’ legacy in forging and casting, supplying to Defence, Oil & Gas, Automotive, Agriculture, and Infrastructure sectors.
- Approved supplier to the Indian Army for tank tracks and bomb shells with NABL-certified testing.
- Diversified product range including flanges, scaffolding parts, auto components, and ground-engaging tools.
- Integrated manufacturing with robotic welding arms, advanced CNC and quality systems, and ISO/IATF certifications.
- Strong promoter experience and expanding into Railways and new export markets (USA, UK, Canada, Europe).
IPO Details
Munish Forge IPO Details
| Face Value | ₹10 per share |
| Fresh Issue (Ex Market Maker) | 59,71,200 shares (aggregating up to ₹57.32 Cr) |
| IPO Date | September 30, 2025 to October 3, 2025 |
| Issue Price Band | ₹91 to ₹96 per share |
| Issue Price Final | ₹96 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Listing Date | October 8, 2025 |
| Lot Size | 1,200 Shares |
| Net Offered to Public | 73,15,200 shares (aggregating up to ₹70.23 Cr) |
| Offer for Sale | 13,44,000 shares of ₹10 (aggregating up to ₹12.90 Cr) |
| Reserved for Market Maker | 3,85,200 shares (aggregating up to ₹3.70 Cr)Gretex Share Broking Pvt.Ltd. NNM Securities Pvt.Ltd. |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Share Holding Post Issue | 2,40,70,263 shares |
| Share Holding Pre Issue | 1,77,13,863 shares |
| Total Issue Size | 77,00,400 shares (aggregating up to ₹73.92 Cr) |
Munish Forge IPO Reservation
Share Reservation Distribution
QIB
3,656,400 shares (47.48%)
Retail
2,560,800 shares (33.26%)
Anchor Investors
2,193,600 shares (28.49%)
QIB (Ex-Anchor)
1,462,800 shares (19%)
HNI (NII)
1,098,000 shares (14.26%)
bNII (>₹10L)
732,000 shares (9.51%)
Market Maker
385,200 shares (5%)
sNII (<₹10L)
366,000 shares (4.75%)
Munish Forge IPO Promoter Holding
| Promoter Holding Post Issue | |
| Promoter Holding Pre Issue | 100.00% |
Munish Forge IPO Listing Details
| BSE Script Code | |
| Final Issue Price | ₹96 per share |
| ISIN | INE1K8Y01018 |
| Listing Date | October 8, 2025 |
| NSE Listing Group | ST (Trade to Trade) |
| NSE Symbol | MUNISH |
Key Dates
Open Date:September 30
Close Date:October 3
Listing Date:October 8
