Munish Forge Limited – IPO
Munish Forge Limited – IPO Details
| IPO Date | September 30, 2025 to October 3, 2025 |
| Listing Date | October 8, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 91 to ₹ 96 / Share |
| Lot Size | 1200 Shares |
| Total Issue Size | 77,00,400 shares (Aggregating up to ₹73.92 Cr) |
| Fresh Issue | 59,71,200 shares (Aggregating up to ₹57.32 Cr) |
| Offer for Sale | 13,44,000 shares of ₹10 (Aggregating up to ₹12.90 Cr) |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,77,13,863 shares |
| Share holding post issue | 2,40,70,263 shares |
| Market Maker portion |
Munish Forge Limited Timeline (Tentative Schedule)
Munish Forge Limited IPO opens on September 30, 2025, and closes on October 3, 2025.
| IPO Open Date | September 30, 2025 |
| IPO Close Date | October 3, 2025 |
| Basis of Allotment | October 6, 2025 |
| Initiation of Refunds | October 7, 2025 |
| Credit of Shares to Demat | October 7, 2025 |
| Listing Date | October 8, 2025 |
| Cut-off time for UPI mandate confirmation | October 3, 2025 |
Munish Forge Limited IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | Rs.230,400 |
| Retail (Max) | 2 | 2,400 | Rs.230,400 |
| S-HNI (Min) | 3 | 3,600 | Rs.345,600 |
| S-HNI (Max) | 8 | 9,600 | Rs.921,600 |
| B-HNI (Min) | 9 | 10,800 | Rs.1,036,800 |
| HNI (Min) |
Munish Forge Limited IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Munish Forge Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50% |
|
| NII (HNI) Shares Offered | Not less than 15% |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
Munish Forge Limited IPO Anchor Investors Details
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
About Munish Forge Limited
Incorporated in July 1986, Munish Forge Limited manufactures components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories, according to customer specifications and international standards. It serves the Indian Army and industries such as defence, oil and gas, automobile, construction, and infrastructure.
The company holds certifications like ISO 9001:2015, ISO 14001- 2015, IATF- 16949- 2016, and PED (Pressure Equipment Directive).
The company manufactures key components for the Indian Army, including Battle Tank Track Chains and Bomb Shells. Rigorous testing in-house and at NABL-certified labs ensures its products meet Defence-level standards.
Munish Forge exports many products globally, ensuring compliance with international standards. Strict quality controls maintain reliability across product lines.
The company uses modern manufacturing techniques, like induction furnaces and solar power, to enhance efficiency and minimise environmental impact. Ongoing investment in technology and process improvements keeps Munish Forge competitive.
As of March 31, 2025, there is a total of 754 employees on the company's payroll.
Competitive Strength:
- Integrated Manufacturing: From die design and forging to machining, heat treatment, plating, and packaging — all processes are handled in-house for better control and faster delivery.
- Innovation-Driven Engineering: Use of CNC machines, robotic welders, CAD/CAM systems, and advanced simulation tools to maintain product reliability and reduce production time.
- Clientele: Serves prestigious OEMs (Original Equipment Manufacturers) and Tier-1 suppliers across Europe, North America, the Middle East, and India.
Key Performance Indicator
The market capitalization of Munish Forge IPO is ₹231.07 Cr.
| KPI | Values |
|---|---|
| ROE | 10.81% |
| ROCE | 9.88% |
| Debt/Equity | 1.16 |
| RoNW | 10.81% |
| P/BV | 2.28 |
| PAT Margin (%) | 2.75% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.48 | 5.84 |
| P/E (x) | 38.74 | 16.45 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 202,4, which is available in RHP.
Objects of the Issue (Munish Forge Limited IPO Objectives)
Munish Forge Limited Contact Details
Munish Forge Ltd. Village-Gobindgarh, Adj. Phase-VII Focal Point, Ludhiana, Punjab, 141010 Phone: +91 94177 30280 Email: [email protected] Website: https://munishforge.com/ |
Munish Forge Limited IPO Registrar
Skyline Financial Services Pvt.Ltd. Phone: 02228511022 Email: [email protected] Website: https://www.skylinerta.com/ipo.php |