Munish Forge Ipo
Munish Forge IPO Review & Key Points
Review:
IPO Lead Managers aka Merchant Bankers
Gretex Corporate Services Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,30,400 |
| Retail Maximum | 2 | 2,400 | ₹2,30,400 |
| S-HNI Minimum | 3 | 3,600 | ₹3,45,600 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 21,93,600 Shares | 28.49% |
| QIB (Ex. Anchor) | 14,62,800 Shares | 19.00% |
| NII Shares Offered | 10,98,000 Shares | 14.26% |
| Retail Shares Offered | 25,60,800 Shares | 33.26% |
| Anchor Bidding Date | September 29, 2025 |
| Anchor Investors List | |
| Shares Offered | 21,93,600 Shares |
| Anchor Size | 21.06 Cr. |
| lock-in period end date 50% shares (30 Days) | November 5, 2025 |
| lock-in period end date 50% shares (90 Days) | January 4, 2026 |
| IPO Open Date: | September 30, 2025 |
| IPO Close Date: | October 3, 2025 |
| Basis of Allotment: | October 6, 2025 |
| Refunds: | October 7, 2025 |
| Credit to Demat Account: | October 7, 2025 |
| IPO Listing Date: | October 8, 2025 |
| IPO Bidding Cut-off Time: | October 3, 2025 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,77,13,863 | 100.00% |
| Promoter Holding Post Issue | 2,40,70,663 | 73.59% |
| Purpose | Crores |
| Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery | 6.28 |
| Repayment/Pre-payment of Certain Debt Facilities | 11.00 |
| Working Capital Requirements | 112.38 |
| General Corporate Purpose | – |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2022 | ₹125.10 | ₹123.92 | ₹1.43 | ₹121.41 |
| 2023 | ₹161.18 | ₹158.77 | ₹1.97 | ₹107.01 |
| 2024 | ₹161.58 | ₹155.81 | ₹4.39 | ₹113.22 |
| 2025 | ₹178.63 | ₹159.31 | ₹14.30 | ₹161.54 |
| KPI | Values |
| ROE: | 21.22% |
| ROCE: | 16.44% |
| EBITDA Margin: | 13.89% |
| PAT Margin: | 8.15% |
| Debt to equity ratio: | 0.89 |
| Earning Per Share (EPS): | ₹8.70 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 26.50% |
| Net Asset Value (NAV): | ₹40.99 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Ramkrishna Forgings Limited | 22.22 | 34.80 | 13.35% | 166.28 | 3,634.30 Cr. |
| Happy Forgings Limited | 28.40 | 27.70 | 14.47% | 196.27 | 1,408.89 Cr. |
| IPO Open Date | September 30, 2025 |
| IPO Close Date | October 3, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹91 to ₹96 Per Share |
| Issue Size | Approx ₹73.92 Crores |
| Fresh Issue | Approx ₹61.02 Crores |
| Offer for Sale: | Approx 13,44,000 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |