Munish Forge IPO
Munish Forge is an NSE SME IPO listed on the NSE SME platform, priced at ₹91–₹96 per share. The stock debuted at ₹105, delivering a listing gain of 9.4%. The IPO had a lot size of ₹1200 shares and a minimum investment of ₹2,30,400.
Munish Forge Limited IPO
- IPO Dates
- Sep 30, 2025 – Oct 3, 2025
- Price band
- ₹91-96 per equity share
- Minimum Investment
- ₹2,30,400
- Issue size
- ₹73.92 Cr
- Lot size
- 1200
- Allotment Date
- Oct 6, 2025
- Listing
- Oct 8, 2025
- Listing At
- NSE SME
IPO timeline
-
Sep 30, 2025
Open Date
Completed
-
Oct 3, 2025
Close Date
Completed
-
Oct 6, 2025
Allotment Date
Completed
-
Oct 8, 2025
Listing Date
Completed
Munish Forge IPO Subscription Details
View Subscription DetailsMunish Forge IPO subscription status shows demand across QIB, NII, and retail categories, helping investors understand participation levels.
Last updated:Munish Forge IPO Essentials
Munish Forge IPO Details
Munish Forge IPO is priced at ₹91-96 per share with a total issue size of 73.92 crore. The IPO has a lot size of 1200 shares and is listed on NSE SME.
- Issue price
- ₹91-96 per equity share
- Lot size
- 1200 shares
- Face value
- ₹10 Per Equity Share
- Issue size
- 77,00,400 shares(aggregating up to ₹73.92 Cr)
- Total issue size
- 77,00,400 shares
(aggregating up to ₹73.92 crore) - Fresh issue
- 63,56,400 shares
(aggregating up to ₹61.02 crore) - Offer for sale (OFS)
- 13,44,000 shares
(aggregating up to ₹12.9 crore) - Listing at
- NSE SME
- List price
- 105.0
- Listing date
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead manager
-
Gretex Corporate Services Ltd.
Market Lot Size
Investors can bid for a minimum of 2400 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 2400 | ₹2,30,400 |
| Individual(max) | 2 | 2400 | ₹2,30,400 |
| sHNI(min) | 3 | 3600 | ₹3,45,600 |
| sHNI(max) | 8 | 9600 | ₹9,21,600 |
| sHNI(min) | 9 | 10,800 | ₹10,36,800 |
Munish Forge IPO Documents
Munish Forge IPO Reservation
Munish Forge IPO reservation details show category-wise allocation of shares. Out of the total 7700400 shares, approximately 18% are reserved for QIB, 15% for NII, 33% for retail investors, 5% for market maker, and 29% for anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 2193600 (29%) | |
| Market Maker Shares Offered | 385200 (5%) | |
| QIB Shares Offered | 1462800 (18%) | |
| NII (HNI) Shares Offered | 1098000 (15%) | |
| bHNI > ₹10L | 732000 (9.6%) | 203 |
| sHNI < ₹10L | 366000 (4.81%) | 102 |
| Individual Shares Offered | 2560800 (33%) | 1067 |
| Total Shares Offered | 7700400 (100%) |
Munish Forge IPO Analytics
Munish Forge IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
Munish Forge IPO Subscription Status
Munish Forge IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO is currently subscribed 3.6x, indicating moderate demand across investor categories.
| As on | QIB / NII | Individual | Total |
|---|---|---|---|
| Shares Offered / Reserved | 14,62,800 / 10,98,000 | 25,60,800 | 51,21,600 |
|
Day 1
30-09-25 06:00 PM
|
(0.36 / 0.52) x | 0.11 x | 0.27 x |
|
Day 2
01-10-25 06:00 PM
|
(0.36 / 0.26) x | 0.23 x | 0.27 x |
|
Day 3
03-10-25 06:00 PM
|
(4.05 / 4.88) x | 2.66 x | 3.53 x |
|
Total No. of Applications
|
bHNI | sHNI | Individual |
|---|---|---|---|
| 3517 (Approx) | 1.97x | 2.74x | 2.66x |
Munish Forge Valuations
Munish Forge Financials( In Crs.)
| 31-Dec-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|---|
| Assets | 146.78 | 113.22 | 107.01 | 121.41 |
| Revenue | 130.93 | 161.58 | 161.18 | 125.10 |
| Profit After Tax | 10.53 | 4.39 | 1.97 | 1.43 |
| Net Worth | 51.09 | 40.61 | 36.03 | 34.11 |
| Reserves & Surplus | 34.71 | 41.46 | 4.58 | 26.39 |
| Total Borrowing | 60.78 | 47.16 | 50.22 | 59.14 |
Munish Forge Company & Offer Insights
About Munish Forge
Established in July 1986, Munish Forge Limited produces components such as flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories to customer and international standards. It supplies the Indian Army and defence, oil and gas, automobile, construction, and infrastructure industries.
Certifications such as ISO 9001:2015, ISO 14001-2015, IATF-16949-2016, PED (Pressure Equipment Directive) are held by the company.The organization produces crucial parts for the Indian Army, such as Battle Tank Track Chains and Bomb Shells. Stringent in-house and NABL-approved laboratory testing confirms its products are Defence-level compliant.
Munish Forge supplies numerous products internationally, adhering to global standards. Stringent quality checks ensure consistency in product lines.The firm applies contemporary manufacturing methods, such as induction furnaces and solar energy, to improve efficiency and reduce environmental degradation. Continued investment in technology and process development maintains Munish Forge competitive.
As of March 31, 2025, there are a total of 754 employees working for the company.
Munish Forge Promoter(s)
Mr. Davinder Bhasin, Mr. Dev Arjun Bhasin, Ms. Minakshi Bhasin, Munish Promoters and Developers Private Limited and Dev Arjuna Enterprises Private Limited. are the company's promoters of Munish Forge.
Munish Forge IPO Issue Objectives
- •
- Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery
- •
- Repayment/Pre-payment of Certain Debt Facilities
- •
- Working Capital Requirements
- •
- General Corporate Purposes
Contact Information
Contact Details
Munish Forge
+91 94177 30280
Village-Gobindgarh, Adj. Phase-VII, Focal Point, Ludhiana, Punjab, 141010
Registrar Contact Details
Skyline Financial Services Private Ltd
02228511022
Frequently Asked Questions
Click any question to reveal the answer
Munish Forge IPO is a book-built IPO worth ₹73.92 crore. The price band is ₹91–₹96 per share. The IPO opens on Sep 30, 2025 and closes on Oct 3, 2025. It will be listed on NSE SME Platform. Skyline Financial Services Pvt. Ltd. is the registrar.
The price band of Munish Forge IPO is ₹91 to ₹96 per share.
The lot size of Munish Forge IPO is 1200 shares.
The minimum investment for Munish Forge IPO is approximately ₹2,30,400 based on the upper price band .
Munish Forge IPO opens on Sep 30, 2025 and closes on Oct 3, 2025.
The allotment date of Munish Forge IPO is Oct 6, 2025.
Munish Forge IPO is expected to be listed on Oct 8, 2025, on NSE SME Platform.
Munish Forge IPO valuation snapshot: P/E N/A, EPS ₹/-, P/B N/A, RoNW %, and market cap N/A.
To apply for Munish Forge IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of Munish Forge IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for Munish Forge IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check Munish Forge IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Munish Forge IPO allotment status on IPO Ji for quick and easy access.