Maiden Forgings Limited IPO Detail
Incorporated in 2005, Maiden Forgings Limited is engaged in manufacturing and selling ferrous metal products. The company manufactures steel bright bars, wires, profiles, collated pneumatic nails, and ground bars.
The company has three manufacturing plants, all located in Ghaziabad, Uttar Pradesh, India. The combined aggregated manufacturing capacity of these plants is 50,000 tons per annum.
Maiden Forgings has around 450+ B2B customers across the globe. The company sells its products from Original Equipment Manufacturers (OEM) to large manufacturing companies in different industry domains like Prestige TTK, Everest, UM Auto etc.
Maiden Forgings Limited has been awarded thrice recently in the year 2018 with the 'fastest growth in the business category' award through business sphere magazine conferred by Hon'ble cabinet minister Dr. Harshvardhan, "heroes next door award" in the year 2019 conferred by Hon'ble cabinet minister Gen. V.K. Singh and the "most versatile company for steel Bright bar in India" conferred by Business Sphere.
Company Promoters
Mr. Nishant Garg and Ms. Nivedita GargIPO Details
| IPO Opening Date | Mar 23, 2023 |
| IPO Closing Date | Mar 27, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹60 - 63 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹23.84 Cr |
| Fresh Issue | ₹23.84 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.48x | - | - | 0.36x | 0.11x | 0.22x |
| Day 2 | 0.48x | - | - | 0.98x | 0.37x | 0.56x |
| Day 3 | 1.00x | - | - | 1.42x | 1.12x | 1.20x |
IPO Tentative Timetable
The Maiden Forgings Limited IPO open date is Mar 23, 2023, and the close date is Mar 27, 2023. The issue may list on Apr 06, 2023.
| IPO Open Date | Mar 23, 2023 |
| IPO Close Date | Mar 27, 2023 |
| Basis of Allotment Date | Mar 31, 2023 |
| Initiation of Refunds | Apr 03, 2023 |
| Credit of Shares to Demat Account | Apr 05, 2023 |
| IPO Listing Date | Apr 06, 2023 |
IPO Lot Size
The Maiden Forgings Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹126000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹126000 |
| Maximum | 1 | 2000 | ₹126000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 9,890.05 | 20,440.37 | 165.95 |
| 31-Mar-21 | 10,484.25 | 19,937.49 | 168.94 |
| 31-Mar-22 | 11,014.23 | 21,083.72 | 213.94 |
| 31-Dec-22 | 12,595.69 | 16,381.04 | 801.51 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objects:
1. Consolidation and expansion of the manufacturing facilities.
2. Working Capital and General Corporate Purpose.
3. Issue Expenses.
Maiden Forgings Limited IPO Registrar:
Maashitla Securities Pvt. Limited
Maiden Forgings Limited IPO Lead Manager(s):
Share India Capital Services Private Limited
Company Contact Information:
Maiden Forgings Limited
B-5, Arihant Tower,
Block D Market, Vivek Vihar,
East Delhi, New Delhi – 110092
