Munish Forge Limited IPO
Price Band
₹91 - ₹96
Total Issue
₹74 Cr
Bid Dates
30 Sep - 03 Oct
Subscription
3.53x
Listing Price
₹105 (9.38%)
Valuation
Market Cap
₹231.07 Cr
P/E Ratio
6.51x
P/B Ratio
2.34x
Munish Forge IPO Dates
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Business Overview
Established in 1986 as Gaisu Forge Private Limited, the company evolved through several transformations before becoming a public limited entity in December 2024. Now known as Munish Forge, it is a leading manufacturer of high-precision forging and casting components for sectors such as Defense, Oil & Gas, Automotive, Railways, Agriculture, and Infrastructure. Its product range includes flanges, scaffolding, auto parts, tank track chains, bomb shells, and fence posts. As a key supplier to the Indian Army, it manufactures critical defense components. With a strong presence in India, the USA, UK, Canada, and Europe, Munish Forge is recognized for its integrated production, innovation, and commitment to quality.
Munish Forge IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 2,400 | ₹2,30,400 |
| Ind (Max) | 2 | 2,400 | ₹2,30,400 |
| S-HNI (Min) | 3 | 3,600 | ₹3,45,600 |
| S-HNI (Max) | 8 | 9,600 | ₹9,21,600 |
| B-HNI (Min) | 9 | 10,800 | ₹10,36,800 |
Munish Forge IPO Size
Objects of Issue
- Capital expenditure towards Civil construction and Capital expenditure towards purchase of additional machinery
- Repayment/Pre-payment of Certain Debt Facilities
- Working Capital Requirements
- General Corporate Purposes
Munish Forge IPO IPO Live Subscription
Updated as on 03-Oct-2025 19:00:43 hrs
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 4.04x | 14,64,000 | 59,18,400 |
| NII | 4.88x | 10,96,800 | 53,55,600 |
| bHNI | 5.94x | 7,30,800 | 43,40,400 |
| sHNI | 2.77x | 3,66,000 | 10,15,200 |
| Individual Investor | 2.66x | 25,60,800 | 68,01,600 |
| Total | 3.53x | 51,21,600 | 1,80,75,600 |
Munish Forge IPO IPO Details Live GMP
| Date | GMP (₹) | Est. Price |
|---|
Munish Forge IPO Peer Comparison
Munish Forge IPO IPO Financial Performance
(Rs. in crores)
| Particulars | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Revenue from Operations | 175.45 | 159.89 | 160.12 |
| Profit after Tax | 14.30 | 4.39 | 1.97 |
| Net Worth | 67.40 | 40.52 | 35.94 |
| Total Borrowing | 60.20 | 47.16 | 50.22 |
| Total Assets | 161.54 | 113.09 | 106.88 |
| NAV per share (in ₹) | 40.99 | 24.74 | 21.94 |
| EPS - Basic (in ₹) | 14.74 | 4.55 | 2.04 |
Key Performance Indicators (KPIs)
EBITDA
13.89%
PAT
8.15%
ROE
21.22%
ROCE
16.44%
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Promoter Holding
Promoter
100.00%
Public
0.00%
Management
Registrar & Lead Managers
Registrar
Skyline Financial Services
Lead Managers (1)
Company Details
Name: Munish Forge Limited
Address: Village-Gobindgarh, Adj. Phase-VII, Focal Point,
Ludhiana, Ludhiana - 141010, Punjab, India
Number: +91 94177 30280
Email: info@munishforge.com
Website: www.munishforge.com
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Frequently Asked Questions (FAQs)
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How to apply Munish Forge IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Munish Forge IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Munish Forge IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Munish Forge IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date