Munish Forge IPO Will Open On Sep 30, 2025 And Close On Oct 03, 2025. The ₹73.92 Cr. IPO is A Fresh Offer and offer For Sale. Munish Forge IPO Price Band is Set At ₹91 to ₹96 Per share.
The Allotment Will Be Finalized On Oct 06, 2025 and Listing date is Expected on The NSE SME By Oct 08, 2025. Investor Quota like 50.00% QIB, and 35.00% Retail 15.00% HNI and Market Maker portion 5.00% Category.
Financial Year 2025 Company Posted a Total Income of ₹178.63 Cr. and A Net Profit of ₹14.30 Cr. Showing Strong Growth From The Previous Year. Based On Financial, The IPO Looks Promising For Long-term Investors.
Munish Forge IPO Dates & Price Band Details
| Open Date | Sep 30, 2025 |
|---|---|
| Close Date | Oct 03, 2025 |
| Price Band | ₹91 to ₹96 per share |
| Face Value | ₹10 per equity share |
| Lot Size | 1,200 Shares |
| Minimum Investment | ₹1,15,200 Lakhs (for 1 lot at ₹96) |
| Type of Issue | Fresh Issue and OFS |
| Total Issue Size | 77,00,400 shares (Approx ₹73.92 Cr) |
| Market Maker | 3,85,200 shares (Approx ₹3.70 Cr) |
| Fresh Issue | 63,53,400 shares (Approx ₹60,99 Cr) |
| Offer for Sale | 13,44,000 shares (Approx ₹12,90 Cr) |
| Net Offer of Public | 73,15,200 shares (Approx ₹70.23 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing Exchange | NSE SME |
| Market Maker Shares | 5.00% |
| Retail Investor Quota | 35.00% |
| QIB Quota | 50.00% |
| NII (HNI) Quota | 15.00% |
| Anchor Investor List | Click Here |
| DRHP (Draft Prospectus) | Click Here |
| RHP (Final Prospectus) | Click Here |
About Munish Forge Limited
Our Company was originally incorporated on 25, July 1986 “Munish Forge Limited” manufacturer in the forging and casting industry, specializing in manufacturing premium forged and cast components.
We manufacture components like Flange, Scaffolding, Auto parts, Tank tracks chains, Bomb shells, Fence post and steel accessories as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as Defence, Oil and Gas, Automobile, Construction and Infrastructure.
we have grown into a powerhouse, manufacturing critical components for the Indian Army, such as Battle Tank Track Chains and Bomb Shells. Detailed testing both in-house and at NABL-certified labs ensures that our products meet the Defence-level standards.
With ongoing projects and approvals from Defence authorities, we contribute significantly to India’s Defense capabilities while also serving clients across developed markets like the USA, UK, Canada, and Europe.
Our Company is actively Expanding into new Sector like Railways, where we have recently begun Registering for Tenders to supply Critical Forged Components.
Munish Forge IPO Market Lot Size
The Minimum Lot Size For The Munish Forge IPO is 2,400 Shares, Requiring An Application Amount of ₹2,30,400 and in multiples of 1,200 For Retail Investors. Investors Must Apply in Multiples of The Lot Size.
| 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 |
| S-HNI Maxmum | 8 | 9,600 | ₹9,21,600 |
| B-HNI Minimum | 9 | 10,800 | ₹10,36,800 |
Objects Of The 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 Allotment & Listing Dates
Munish Forge IPO Will Open on Sep 30 and Close on Oct 03, 2025. The allotment is Expected on Oct 06 With the Listing Scheduled on NSE SME For Oct 08, 2025 (More information below table).
| Anchor Investor Bidding | Mon, Sep 29, 2025 |
|---|---|
| IPO Open | Tue, Sep 30, 2025 |
| IPO Close | Fri, Oct 03, 2025 |
| Allotment Finalisation | Mon, Oct 06, 2025 |
| Refunds / Unblocking | Tue, Oct 07, 2025 |
| Shares Credited to Demat | Tue, Oct 07, 2025 |
| Listing Date | Wed, Oct 08, 2025 |
Munish Forge IPO Financial Report (FY 2025)
Munish Forge Reported a Total Income of ₹178.63 Cr. in FY 2025, Slightly up From ₹161.58 Cr. in FY 2024. The Company Net Profit Also Rose to ₹14.30 Cr. From ₹4.39 Cr. in the Previous Year Showing Consistent Financial Growth Ahead of its IPO. (More information below table).
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 162.00 | 113.09 | 107.00 |
| Total Income | 178.63 | 161.58 | 161.18 |
| Profit After Tax | 14.30 | 4.39 | 1.97 |
| EBITDA | 24.36 | 11.43 | 9.14 |
| Net Worth | 67.40 | 40.52 | 35.94 |
| Reserves & Surplus | 49.69 | 45.25 | 4.58 |
| Total Borrowing | 48.77 | 41.29 | 43.24 |
| Amount in ₹ Crore |
Munish Forge IPO Valuation Report – FY 2025 (KPI)
Check Detailed Munish Forge IPO Valuation Metrics for FY 2025, including EPS, P/E Ratio, RoNW, NAV, ROCE, and other key financial indicators. These Ratios help Investors Assess the Company financial Health & Valuation Before applying for The IPO. (More information below table).
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 21.22% |
| Return on Capital Employed (ROCE) | 16.44% |
| EBITDA Margin | 13.89% |
| PAT Margin | 8.15% |
| Debt-to-Equity Ratio | - |
| Earnings Per Share (EPS) | 14.74 |
| Price to Earnings Ratio (P/E) | 6.51 |
| Return on Net Worth (RoNW) | 26.50% |
| Net Asset Value (NAV) | 38.05 |
Our Competitive Strengths
Experienced Promoters.
Integrated manufacturing facility.
Quality Assurance and Control.
Quality Driving Global Reach.
Financial Track Record.
Relationship with our Customers.
Diversified Business Model.
Our Company Promoters
Mr. Davinder Bhasin,
Ms. Minakshi Bhasin,
Mr. Dev Arjun Bhasin,
Munish,
Developers Pvt Ltd,
Dev Arjuna Enterprises Pvt Ltd.
Comparison of Accounting Ratios with Industry Peers
Company Name
Price (25-Aug-25)
Face Value (₹)
EPS (Basic)
P/E
RoNW (%)
NAV (₹)
Revenue FY25 (₹ Lakh)
Sampat Aluminium Ltd
[●]
10
11.80
10.16
30.82
38.30
13,271.85
Palco Metals Ltd
134.95
10
15.76
8.56
54.25
29.01
24,595.79
Arfin India Ltd
33.95
1
0.54
62.87
5.94
9.29
70,919.21
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Munish Forge Company Contact Details
Registered Office: Village Gobindgarh,
Adjoining Phase – VII, Focal point,
Ludhiana-141010, Punjab, India.
Contact No.: +91-161-5218900
Email: info@munishforge.com
Website: www.munishforge.com
Munish Forge Lead Manager
GRETEX CORPORATE SERVICES LIMITED
A-401, Floor 4th, Plot FP-616, (PT),
Naman Midtown, Senapati Bapat Marg,
Near Indiabulls, Dadar (w), Delisle
Road, Mumbai 400013, Maharashtra, India
Contact No: +91 93319 26937
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
Munish Forge IPO Registrar
SKYLINE FINANCIAL SERVICES PVT LTD
D-153A, First Floor, Okhla Industrial Area,
Phase – I, New Delhi – 110020
Contact No: 011- 40450193 – 97
E-mail: ipo@skylinerta.com
Website: www.skylinerta.com
Munish Forge IPO FAQs
Question 1: What is the Munish Forge IPO?
Answer 1:Munish Forge IPO is a SME IPO of 77,00,400 equity shares of the face value of ₹10 approximately up to ₹73.92 Cr. The issue is priced at ₹91 to ₹96 per share.
The Munish Forge IPO opens on Sep 30, 2025 and closes on Oct 03, 2025.
Skyline Financial Services Pvt Ltd is the registrar for the IPO. The shares to be listed on NSE SME.
Question 2: How to apply in Munish Forge IPO through Groww?
Answer 2: Groww customers can apply online in Munish Forge IPO using UPI as a payment gateway. Groww customers can apply in Munish Forge IPO by login into Groww (back office) and submitting an IPO application form.
Steps to apply in Munish Forge IPO through Groww –
Visit the Groww website and login to Groww.
Go to Main Page and click the Products & tools and click IPO tab.
New page Open and Show ‘Munish Forge IPO’ click the ‘Apply’ button.
Show IPO detail Shares lot Size and Bid Price & click here to Cutoff Price check Box and Continue.
Inter Your UPI id like . 95****299@kotak accept terms and condition click Box and Apply For IPO
groww share payment link Your UPI Mobile Number Pay Payment for IPO Bid to approve the e-mandate successfully submit application.
Question 3: When Munish Forge IPO will open?
Answer 3: The Munish Forge IPO opens on Sep 30, 2025, and closes on Oct 03, 2025.
Question 4: What is the lot size of Munish Forge IPO?
Answer 4: Munish Forge IPO lot size and the minimum order quantity is 1,200 Shares.
Question 5: How to apply for Munish Forge IPO?
Answer 5: You can apply in Munish Forge IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Groww, Zerodha, Upstox, 5Paisa, Phonepe Share Market, HDFC Bank, and Angel one.
Question 6: When is Munish Forge IPO allotment date?
Answer 6: The Basis of Allotment for Munish Forge IPO will be on Mon, Oct 06, 2025, and the allotted shares will be credited to your demat account by Tue, Oct 07, 2025. For Check the Munish Forge IPO allotment status.
Question 7: When is Munish Forge IPO listing date?
Answer 7: The Munish Forge IPO listing date is Oct 08, 2025. The date of Munish Forge IPO listing on Wed, Oct 08, 2025.
