✓
Open
30 Sep to 3 Oct, 2025
✓
Close
30 Sep to 3 Oct, 2025
3
Allotment
—
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Listing
Wed, Oct 8, 2025
Price Band
₹91 to ₹96
Issue Size
77,00,400 shares (agg. up to ₹74 Cr)
Lot Size
1,200 Shares
Listing Date
Wed, Oct 8, 2025
Latest GMP
₹0
Est. Gain
0%
✦ AI Insight
GMP Trend
08-10-2025₹0Est. ₹96+0%
07-10-2025₹0Est. ₹96+0%
06-10-2025₹0Est. ₹96+0%
Live Subscription
| Category | Subscription (times) |
|---|---|
| Total | 2.77x |
Restated Financials (₹ Cr.)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 161.54 | 113.09 | 106.88 |
| Total Income | 178.63 | 161.58 | 161.18 |
| Profit After Tax | 14.30 | 4.39 | 1.97 |
| EBITDA | 24.36 | 11.43 | 9.14 |
| NET Worth | 67.40 | 40.52 | 35.94 |
| Reserves and Surplus | 49.69 | 30.89 | 26.30 |
| Total Borrowing | 60.20 | 47.16 | 50.22 |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| KVS Castings Ltd. | SME | ₹27.83 Cr | ₹56 | 11.65 | ₹69.61 | +24.30% | ₹63.00 (+0.80%) |
| Swastika Castal Ltd. | SME | ₹14.07 Cr | ₹65 | 14.8 | ₹66.82 | +2.80% | ₹82.50 (+3.32%) |
| Neetu Yoshi Ltd. | SME | ₹77.04 Cr | ₹75 | 17.02 | ₹110.25 | +47.00% | ₹160.85 (+4.72%) |
| Super Iron Foundry Ltd. | SME | ₹68.05 Cr | ₹108 | 46.84 | ₹102.60 | -5.00% | ₹39.80 (-3.52%) |
| Abha Power & Steel Ltd. | SME | ₹38.54 Cr | ₹75 | 28.65 | ₹77.80 | +3.73% | ₹25.95 (-0.19%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery | 7.19 |
| 2 | Repayment/Pre-payment of Certain Debt Facilities | 9.70 |
| 3 | Working Capital Requirements | 30.00 |
| 4 | General Corporate Purposes | 2.84 |
| 5 | Issue Expenses | 11.29 |
| Total | 61.02 |
About Munish Forge IPO
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 St
Contact Details
Munish Forge Ltd. AddressVillage-GobindgarhAdj.Phase-VIIFocal PointLudhiana, Punjab, 141010+91 94177 30280cs@munishforge.comVisit Website