IPO Details
Bidding Dates
23 Mar '23 - 27 Mar '23
Minimum Investment
₹126,000 / 1 Lots ( 2000 Shares )
Price Range
₹60 - ₹63
Maximum Investment
₹126,000 / 1 Lots ( 2000 Shares )
Retail Discount
To be announced
Issue Size
₹23.84
Investor category and sub category
Qualified Institutions Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Mar 23, 2023
IPO Closing Date
Mar 27, 2023
IPO Allotment Date
Mar 31, 2023
Initiation of Refunds
Apr 3, 2023
Credit Of Shares To Demat Account
Apr 5, 2023
IPO Listing Date
Apr 6, 2023
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Mar 23, 2023 |
0.48 | 0.36 | 0.13 | 0.23 |
Day 2Mar 24, 2023 |
0.48 | 0.98 | 0.37 | 0.56 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 0.48 |
| Non-Institutional Buyers | 0.98 |
| Retail Investors | 0.37 |
| Employees | [.] |
| Other | [.] |
| Total | 0.56 |
About Company
Incorporated in 2005, the company engages in the manufacturing and sales of ferrous metal products, including steel bright bars, wires, profiles, collated pneumatic nails, and ground bars. They have three manufacturing units in the Ghaziabad district of Uttar Pradesh. The combined manufacturing capacity of these units is 50,000 tons per annum.
Although the company started operating in 2005, the promoters have 38-plus years of experience in the sector. Maiden Forgings has 450+ B2B customers in India and abroad. They are one of the primary suppliers to some of the major Original Equipment Manufacturers (OEM) like Prestige TTK, Everest, UM Auto etc.
Maiden Forgings Ltd. IPO bidding window will remain open for 2 days from March 22-24, 2023. The issue contains 3,784,000 shares with a face value of Rs. 10 per share. Investors can apply for one lot of 2000 shares.
Maiden Forgings IPO Objective
- Consolidation of manufacturing plants
- To meet working capital requirements and general corporate purposes
- To meet issue expenses
Why should you invest in Maiden Forgings Ltd.?
These are the top reasons to consider investing in the IPO.
- They offer a diversified product portfolio to 450+ B2B clients, including major OEMs, and tier-I & II suppliers of leading two-wheeler and four-wheeler manufacturers.
- The company has won several accolades - the fastest growth in the business category (2018), the Heroes Next Door Award (2019), and the most versatile company for Steel Bright Bar in India.
- The company is expanding to add new products like manufacturing collated pneumatic nails and oil-tampered induction wires.
Maiden Forgings Ltd. Noteworthy highlights
- They cater to the sectors of auto engineering, hardware, furniture, engineering, and others.
- The company also exports a small part of their products primarily to the USA.
Maiden Forgings Company Financials
| Particulars | Year ending on March 31, 2022 (₹ Lakh) | Year ending on March 31, 2021 (₹ Lakh) | Year ending on March 31, 2020 (₹ Lakh) |
|---|---|---|---|
| Revenue from Operations | 21050.98 | 19923.61 | 20412. 44 |
| Profit After Tax (PAT) | 213.94 | 168.94 | 165.95 |
| EPS (basic) | 4.10 | 3.24 | 3.57 |
| Current Ratio | 1.36 | 1.34 | 1.23 |
Know before investing
Strengths
3-
Able leadership and experienced management with over 30 years of industry experience.
-
They have a strong marketing network with 450+ customers for their products in various industries.
-
In-house capability to produce all products in their manufacturing units.
Risks
3-
The company has pending cases against its customers for non-payment and those may impact their financials.
-
Underutilisation of manufacturing capabilities can affect their future earnings.
-
The steel industry is highly cyclical and volatile, impacting future operations, financial conditions, and cash flow.
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Maiden Forgings IPO FAQs
Maiden Forgings Ltd. Ltd. IPO contains 3,784,000 with a face value of Rs. 10 per share. The IPO will open for bidding on March 22, 2023.
The basis of the allotment date is March 29, 2023.
One lot of Maiden Forgings Ltd. IPO has 2000 shares.
The IPO will open on March 23, 2023.
Retail investors can apply for a minimum of one lot.
The listing date of Maiden Forgings Ltd. is April 6, 2023.
You can check the allotment status of your IPO application from the Angel One app.
To check the allotment status, enter the application number, DP ID, and PAN number into the app.
Listing gain can’t be ascertained before the IPO is listed on the exchange. You can get this information on the listing date for Maiden Forgings Ltd. Ltd. which is April 05, 2023.
The bank initially blocks the amount you bid for an IPO. It will debit the money when the shares are allotted or unblock the amount after the UPI mandate expiry date.
Login to your UPI handle and approve the payment mandate to complete the IPO application process.
You can submit only one application using one PAN card.
The minimum size of the application will be one lot of 2000 shares.
