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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.
| IPO Date | Mar 23, 2023 to Mar 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹60 to ₹63 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,784,000 shares (aggregating up to ₹23.84 Cr) |
| Fresh Issue | 3,784,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| QIB Shares Offered | 360,000 (9.51%) |
| NII (HNI) Shares Offered | 1,160,000 (30.66%) |
| Retail Shares Offered | 2,264,000 (59.83%) |
| Market Maker portion | 190,000 shares |
| Total Shares Offered | 3,784,000 |
Maiden Forgings IPO opens on Mar 23, 2023, and closes on Mar 27, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 23, 2023 |
| Closing Date | Mar 27, 2023 |
| Basis of Allotment | Mar 31, 2023 |
| Initiation of Refunds | Apr 3, 2023 |
| Credit of Shares to Demat | Apr 5, 2023 |
| Listing Date | Apr 6, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The Maiden Forgings IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹126,000 |
| Retail (Max) | 1 | 2000 | ₹126,000 |
| HNI (Min) | 2 | 4,000 | ₹252,000 |
| Lot Size Calculator | |||
Mr. Nishant Garg and Ms. Nivedita Garg are the company promoters.
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 9,890.05 | 20,440.37 | 165.95 | 2,136.92 | 1,672.02 | 5,788.13 |
| 31-Mar-21 | 10,484.25 | 19,937.49 | 168.94 | 2,899.11 | 2,377.71 | 5,428.93 |
| 31-Mar-22 | 11,014.23 | 21,083.72 | 213.94 | 3,113.05 | 2,591.65 | 6,170.75 |
| 31-Dec-22 | 12,595.69 | 16,381.04 | 801.51 | 3,914.56 | 2,871.76 | 6,525.17 |
| Amount in ₹ Lakhs | ||||||
[Dilip Davda] MFL is having forging activities at a minuscule level. It is currently engaged in the business of ferrous metal products with diverse product ranges and has added high-margin products like carbon steel and alloy. It is expanding its capacity in such high-margin products. However, based on annualized FY23 earnings the issue appears fully priced discounting all near-term positives. Well-informed/cash surplus investors may park funds for long-term rewards. Read detail review...
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
B-5, Arihant Tower,
Block D Market, Vivek Vihar,
East Delhi, New Delhi – 110092
Phone: +011-44796732
Email: cs@maidenforgings.in
Website: https://maidenforgings.in/
Maashitla Securities Pvt. Limited
Phone: +91-11-45121795-96
Email: mukul@maashitla.com
Website: https://www.maashitla.com/
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
Maiden Forgings IPO is a SME IPO of 3,784,000 equity shares of the face value of ₹10 aggregating up to ₹23.84 Crores. The issue is priced at ₹60 to ₹63 per share. The minimum order quantity is 2000 Shares.
The IPO opens on Mar 23, 2023, and closes on Mar 27, 2023.
Maashitla Securities Pvt. Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Maiden Forgings IPO using UPI as a payment gateway. Zerodha customers can apply in Maiden Forgings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Maiden Forgings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Maiden Forgings IPO opens on Mar 23, 2023 and closes on Mar 27, 2023.
Maiden Forgings IPO lot size is 2000 Shares and the minimum order quantity is .
You can apply in Maiden Forgings IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Maiden Forgings IPO will be done on Mar 31, 2023, and the allotted shares will be credited to your demat account by Apr 5, 2023. Check the Maiden Forgings IPO allotment status.
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