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Munish Forge Ltd

Munish Forge Ltd

NSE SME · SME IPO
Listed NSE SME SME Live Chart
Issue Price
₹96
₹96
GMP (Grey Market)
NIL
Unofficial data only
Est. Listing Price
₹96
Based on GMP
Min. Investment
₹115,200
1 lot × 1200 shares
Subscribed
1.00x
Over-subscribed
IPO Details
Open Date
30 Sep 2025
Close Date
03 Oct 2025
Allotment
06 Oct 2025
Listing Date
08 Oct 2025
Exchange
NSE SME
Price Band
₹96
Listing Price
See chart
Allotment Status
Price Band
₹96
Per share
Face Value
₹10 per share
 
Lot Size
1,200 Shares
per lot
Issue Size
77,00,400 shares (aggregating up to ₹73.92 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹115,200
1 lot
Pre-IPO Holding
1,77,13,863 shares
Promoters
Post-IPO Holding
2,40,70,263 shares
Promoters
P/E (Pre)
11.89x
 
P/E (Post)
16.16x
 
EPS (Pre)
₹8.07
 
EPS (Post)
₹5.94
 
UPI Deadline
2025-10-03
Mandate
Anchor AllotmentMon, 29 Sep 2025
Basis of AllotmentMon, 06 Oct 2025
Refund InitiationTue, 07 Oct 2025
Demat CreditTue, 07 Oct 2025
Listing DayWed, 08 Oct 2025
UPI Mandate Deadline2025-10-03
Sale TypeFresh Capital-cum-Offer for Sale
Market Maker Quota3,85,200 shares (aggregating up to ₹3.70 Cr)
Fresh Issue Shares59,71,200 shares (aggregating up to ₹57.32 Cr)
Offer for Sale13,44,000 shares of ₹10 (aggregating up to ₹12.90 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Munish Forge Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 03 Oct 2025.
QIB
1.00x
Over
NII/HNI
1.00x
Over
Retail
1.00x
Over
Total
1.00x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
Market Maker
Awaited
385,200
₹3.70
QIB
Over 1.00x
NII / HNI
Over 1.00x
Retail
Over 1.00x
Total 1.00x
7,700,400
100% ₹73.92
IPO Shares Offered
Munish Forge Ltd IPO total issue size: ₹73.92 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Market Maker 385,200 ₹3.70
5.00%
Total 7,700,400 ₹73.92
100.00%
* Based on upper price band ₹96 per share
Lot Size & Investment
Lot Size
1,200
Shares per Lot
Issue Price
₹96.00
Upper Band
Min Investment
₹115,200
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)22,400₹230,400
Retail (Max — 13 Lots)1315,600₹1,497,600
S-HNI (Min — 14 Lots)1416,800₹1,612,800
B-HNI (Min — 68 Lots)6881,600₹7,833,600
* Issue Price ₹96 × Lot Size 1,200 shares
IPO Schedule
Anchor
29 Sep 2025
✓ Done
IPO Open
30 Sep 2025
✓ Done
IPO Close
03 Oct 2025
✓ Done
Allotment
06 Oct 2025
✓ Done
Refunds
07 Oct 2025
✓ Done
Demat Credit
07 Oct 2025
✓ Done
Listing Day
08 Oct 2025
✓ Done
Munish Forge Ltd — Live Price LIVE
₹96.00
INR · NSE
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Issue ₹96.00 Live Price
About Munish Forge Ltd
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, 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.
Objects of the Issue
1
Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery
2
Repayment/Pre-payment of Certain Debt Facilities
3
Working Capital Requirements
4
General Corporate Purposes
Munish Forge Ltd Financials (Amount in ₹ Crore)
Revenue from Operations
₹161.2
31 Mar 2023
₹161.6
31 Mar 2024
₹130.9
31 Dec 2024
Profit After Tax (PAT)
₹2.0
31 Mar 2023
₹4.4
31 Mar 2024
₹10.5
31 Dec 2024
Particulars31 Dec 202431 Mar 202431 Mar 2023
Revenue from Operations 130.93 161.58 161.18
EBITDA 24.36 11.43 9.14
Profit After Tax (PAT) 10.53 4.39 1.97
Net Worth 51.09 40.61 36.03
Total Assets 146.78 113.22 107.01
Reserves & Surplus 34.71 41.46 4.58
Borrowings 60.78 47.16 50.22
EBITDA Margin (%) 13.89%
PAT Margin (%) 8.15%
P/BV Ratio
2.34
RoE
21.22%
RoCE
16.44%
RoNW
26.50%
PAT Margin
8.15%
EBITDA Margin
13.89%
Debt/Equity
0.89
Issue Structure & Shareholding
Total Shares Offered77,00,400 (100.00%)
Net Offer to PublicN/A
Reserved for Market Maker3,85,200 shares (aggregating up to ₹3.70 Cr)
Pre-Issue Promoter Holding1,77,13,863 shares
Post-Issue Promoter Holding2,40,70,263 shares
P/BV Ratio2.34
RoE21.22%
RoCE16.44%
Debt / Equity0.89
Script CodeN/A
Registrar & Lead Managers
IPO Registrar
Skyline Financial Services Pvt.Ltd.
Check Allotment
Book Running Lead Managers
Gretex Corporate Services Ltd.
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Munish Forge Ltd IPO subscribed?

Munish Forge Ltd IPO is subscribed 1.00 times by Oct 03, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.00x
Retail Individual1.00x
Total Subscription1.00x
What is Munish Forge Ltd IPO retail subscription status?

The Munish Forge Ltd IPO retail category is subscribed 1.00 times as of 03 Oct 2025. The retail portion is oversubscribed.

How to subscribe Munish Forge Ltd IPO?

Subscribe via your broker app using ASBA or UPI. Opens 30 Sep 2025 and closes 03 Oct 2025. Min investment: ₹115,200 (1 lot = 1,200 shares). UPI mandate: 2025-10-03.

How many times Munish Forge Ltd IPO subscribed?

The Munish Forge Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Munish Forge Ltd IPO allotment?

Check allotment on the registrar website (Skyline Financial Services Pvt.Ltd.) at https://www.skylinerta.com/ipo.php. Enter your PAN, application number or DP/Client ID. Allotment date: 06 Oct 2025. Refunds: on 07 Oct 2025.

When Munish Forge Ltd IPO will be listed?

The Munish Forge Ltd IPO listing date is 08 Oct 2025, Wednesday. Listed on: NSE SME. Issue price: ₹96. Estimated listing: ₹96. GMP: NIL.

When Munish Forge Ltd IPO close?

The Munish Forge Ltd IPO closes on 03 Oct 2025, Friday. UPI mandate: 2025-10-03. Allotment: 06 Oct 2025. Listing: 08 Oct 2025.