Munish Forge Ltd IPO

Munish Forge Ltd IPO

Our company was established as Gaisu Forge Private Limited in 1986, underwent multiple transformations before becoming a public limited company in December 2024. A leading forging and casting manufacturer, it supplies highprecision components for Defense, Oil & Gas, Automotive, Railways, Agriculture, and Infrastructure, including flanges, scaffolding, auto parts, tank track chains, bomb shells, and fence posts. As a key supplier to the Indian Army, it produces battle tank track chains and bomb shells. With a strong presence in India, the USA, UK, Canada, and Europe, Munish Forge continues to expand as a trusted partner known for its integrated production, innovation, and commitment to quality excellence.

Munish Forge Ltd IPO Details

Total Shares Offered

₹ 77,00,400

Offer to Public

13,44,000

Retail Max (Shares)

₹ 25,60,320

Pre Issue Promoters Holding

₹ 1,77,13,861

Exchange

NSE

Issue size

₹ 73.92 Cr

IPO Open Date

Sep 30, 2025

Close Date

Oct 3, 2025

Lot Size

2400

Min Investment

₹ 2,18,400

Issue Type

Book Building - SME

Listing Date

Oct 8, 2025

Munish Forge Ltd IPO Dates

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Sep 30, 2025
Opening date
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Oct 3, 2025
Closing date
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Oct 6, 2025
Basis of Allotment
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Oct 7, 2025
Initiation of Refunds
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Oct 7, 2025
Credit of Shares
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Oct 8, 2025
Listing date

Details

SectorType
SectorCastings & Forgings
Sub SectorNA
Issue TypeBook Building - SME

Subscription Status

*Values are in Lakhs

Investor Type

QIB

NII

Retail

Employee

Total

Munish Forge Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)
Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations159.895.474.85
EBITDA11.308.538.53
PAT4.391.971.43
Total Assets85.9382.0094.55
Share Capital9.649.649.64
Total Borrowings57.9560.2773.08
Operating Activities (Net Cash)7.155.035.11
Investing Activities (Net Cash)-4.930.000.00
Financing Activities (Net Cash)57.9560.2773.08
Net Cashflow1.049.173.59

About Munish Forge Ltd

Our Company was originally incorporated on July 25, 1986, as a Private Limited Company in the name of Gaisu Forge Private Limited under the provisions of the Companies Act, 1956 bearing Registration Number 6950 issued by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh. Further, our Company was converted from a Private Limited Company to Public Limited Company along with name change and consequently, the name of our Company was changed from Gaisu Forge Private Limited to Munish Forge Limited and a Fresh Certificate of Incorporation consequent to Conversion was issued on May 03, 1995 bearing Registration Number 6950 issued by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh. Further, our Company was converted from a Public Limited Company to Private Limited Company and consequently, the bearing Registration Number 06950 issued by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh. Subsequently, pursuant to a Special Resolution of our Shareholders passed in the Extra-Ordinary General Meeting held on November 12, 2024, our Company was again converted from a Private Limited Company to Public Limited Company and consequently, the name of our Company was changed from Munish Forge Private Limited to Munish Forge Limited and a Fresh Certificate of Incorporation consequent to Conversion was issued on December 17, 2024, bearing Corporate Identification Number U28910PB1986PLC006950 by the Central Processing Centre.

The industrial sector plays a crucial role in the economic development of a country. It encompasses a wide range of activities, from manufacturing and construction to energy production and mining. Industrial growth is often linked to technological advancements, improved infrastructure, and favorable government policies. A well-developed industrial sector not only boosts employment opportunities but also enhances the country's GDP and global competitiveness. In recent years, sustainable industrial practices have gained prominence, emphasizing resource efficiency, waste reduction, and eco-friendly production methods.

Our company was established as Gaisu Forge Private Limited in 1986, underwent multiple transformations before becoming a public limited company in December 2024. A leading forging and casting manufacturer, it supplies highprecision components for Defense, Oil & Gas, Automotive, Railways, Agriculture, and Infrastructure, including flanges, scaffolding, auto parts, tank track chains, bomb shells, and fence posts. As a key supplier to the Indian Army, it produces battle tank track chains and bomb shells. With a strong presence in India, the USA, UK, Canada, and Europe, Munish Forge continues to expand as a trusted partner known for its integrated production, innovation, and commitment to quality excellence.

Peer Comparison:

  • Ramkrishna Forgings Ltd
  • Happy Forgings Ltd

Munish Forge Ltd Key Points

Strengths

Experienced Promoters.

Integrated manufacturing facility.

Quality Assurance and Control.

Quality Driving Global Reach.

Financial Track Record.

Risk

Our existing international operations and our plans to expand into additional overseas markets are subject to various business, economic, political, regulatory and legal risks.

The Company is dependent on few numbers of customers for sales. The loss of any of these large customers may affect our revenues and profitability.

Our Promoter and Directors play a key role in our functioning and we heavily rely on their knowledge and experience in operating our business and therefore, it is critical for our business that our Promoter and Directors remain associated with us.

Strategy

Enhancing Efficiency and Promoting Sustainability.

Strategic Growth and Market Expansion.

Corporate Governance and Sustainability Commitment.

Expansion into the Railway Sector.

How To Apply for Munish Forge Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Munish Forge Ltd IPO?

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Munish Forge Ltd's IPO offers shares for up to 61.02 It begins on Sep 30, 2025 and ends on Oct 3, 2025.

What is the price of the Munish Forge Ltd IPO?

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The price of Munish Forge Ltd IPO ranges between ₹91 to ₹96 per share.

What are the open and close dates for the Munish Forge Ltd IPO?

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The Munish Forge Ltd IPO opens on Sep 30, 2025 and closes on Oct 3, 2025.

When will the Munish Forge Ltd IPO be allotted?

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The allotment for the Munish Forge Ltd IPO will be finalised on Oct 6, 2025. The shares will be listed on BSE and NSE on Oct 8, 2025.

What is the minimum lot size required for Munish Forge Ltd IPO?

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The minimum lot size for Munish Forge Ltd IPO is 2400 shares, priced between ₹91 to ₹96 per share.

What is the GMP of Munish Forge Ltd IPO?

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The GMP (Grey Market Premium) of Munish Forge Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Munish Forge Ltd IPO?

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To check the allotment status of Munish Forge Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Munish Forge Ltd IPO getting listed?

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The Munish Forge Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 30, 2025, and closes on Oct 3, 2025. The allotment is finalised on Oct 6, 2025.

How do you apply for the Munish Forge Ltd IPO?

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To apply for the Munish Forge Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.

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