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.

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50years

Munish Forge Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 77 L₹ 13.44 LTBA₹ 177.14 LDBC₹ 73.92 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
30 Sep, 2503 Oct, 251200 ₹ 1,09,200 Book Building - SME08 Oct, 25

Munish Forge Ltd IPO Dates

  • 30 Sep 2025

    Opening date

  • 03 Oct 2025

    Closing date

  • 06 Oct 2025

    Basis of
    Allotment

  • 07 Oct 2025

    Initiation of
    Refunds

  • 07 Oct 2025

    Credit of
    Shares

  • 08 Oct 2025

    Listing date

Details

SectorType
SectorCastings & Forgings
Sub SectorNA
Issue TypeBook Building - SME

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB0x00
NII0x00
Retail0x00
Employee0x00
Total0x77004000

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Munish Forge Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations8.545.474.85
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

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

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 IPO 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.
  • Experienced Promoters.
  • Integrated manufacturing facility.
  • Quality Assurance and Control.
  • Quality Driving Global Reach.
  • Financial Track Record.

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.

Get your FAQs right

Munish Forge Ltd's IPO offers shares for up to ₹ 0 L It begins on Sep 30, 2025 and ends on Oct 3, 2025.

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

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

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.

The minimum lot size for Munish Forge Ltd IPO is 1200 shares, priced between ₹91 to ₹96 per share.

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

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.'

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.

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.