Munish Forge Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 3,656,400 | — | ₹35 Cr |
| NII (HNI) | — | 1,098,000 (18%) | — | ₹1,054 Cr |
| Retail | — | 2,560,800 (41%) | — | ₹2,458 Cr |
| Market Maker | — | 385,200 (6%) | — | ₹37 Cr |
| Σ Total | — | 7,700,400 (100%) | — | ₹73,924 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹115,200 |
| Retail (Max) | 13 | 15,600 | ₹1,497,600 |
| S-HNI (Min) | 14 | 16,800 | ₹1,612,800 |
| B-HNI (Min) | 67 | 80,400 | ₹7,718,400 |
Financial Statements Amount in ₹ Crore
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue | 131 | 162 | 161 |
| EBITDA | 24 | 11 | 9 |
| Profit After Tax | 11 | 4 | 2 |
| Net Worth | 51 | 41 | 36 |
| Total Assets | 147 | 113 | 107 |
| Reserves & Surplus | 35 | 41 | 5 |
| Total Borrowing | 61 | 47 | 50 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery – 7.19
- Repayment/Pre-payment of Certain Debt Facilities – 10.08
- Working Capital Requirements – 110.35
- General Corporate Purposes –
Company Overview
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.