Comparison between Munish Forge IPO and SK Minerals IPO.
Munish Forge IPO is a SME Bookbuilding IPO proposed to list at NSE SME while SK Minerals IPO is a SME Bookbuilding proposed to list at BSE SME.
| Munish Forge IPO | SK Minerals IPO | |
|---|---|---|
| Logo |  | |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Gretex Corporate Services Ltd. | Khambatta Securities Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | Maashitla Securities Pvt.Ltd. |
| Market Maker | Gretex Share Broking Pvt.Ltd. | Rikhav Securities Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Munish Forge IPO is up to ₹70.23 Cr whereas the issue size of the SK Minerals IPO is up to ₹39.09 Cr. The final issue price of Munish Forge IPO is ₹96.00 per share and of SK Minerals IPO is ₹127.00 per share.
| Munish Forge IPO | SK Minerals IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹91.00 per share | ₹120.00 per share |
| Issue Price (Upper) | ₹96.00 per share | ₹127.00 per share |
| Issue Price (Final) | ₹96.00 per share | ₹127.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1000 shares |
| Fresh Issue Size | 59,71,200 shares | 30,78,000 shares |
| Fresh Issue Size (Amount) | up to ₹57.32 Cr | up to ₹39.09 Cr |
| OFS Issue Size | 13,44,000 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹12.90 Cr | up to ₹0.00 Cr |
| Issue Size Total | 73,15,200 shares | 30,78,000 shares |
| Issue Size Total (Amount) | up to ₹70.23 Cr | up to ₹39.09 Cr |
Munish Forge IPO opens on Sep 30, 2025, while SK Minerals IPO opens on Oct 10, 2025. The closing date of Munish Forge IPO and SK Minerals IPO is Oct 03, 2025, and Oct 14, 2025, respectively.
| Munish Forge IPO | SK Minerals IPO | |
|---|---|---|
| Anchor Bid Date | Sep 29, 2025 | Oct 09, 2025 |
| Issue Open | Sep 30, 2025 | Oct 10, 2025 |
| Issue Close | Oct 03, 2025 | Oct 14, 2025 |
| Basis Of Allotment (Tentative) | Oct 06, 2025 | Oct 15, 2025 |
| Initiation of Refunds (Tentative) | Oct 07, 2025 | Oct 16, 2025 |
| Credit of Share (Tentative) | Oct 07, 2025 | Oct 16, 2025 |
| Listing date (Tentative) | Oct 08, 2025 | Oct 17, 2025 |
| Anchor Lockin End date 1 | Nov 05, 2025 | Nov 14, 2025 |
| Anchor Lockin End date 2 | Jan 04, 2026 | Jan 13, 2026 |
Munish Forge IPO P/E ratio is 11.89, as compared to SK Minerals IPO P/E ratio of 10.45.
| Munish Forge IPO | SK Minerals IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated)Munish Forge Ltd.'s revenue increased by 11% and profit after tax (PAT) rose by 226% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Standalone)SK Minerals & Additives Ltd.'s revenue increased by 95% and profit after tax (PAT) rose by 253% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 100 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 68.01 | 73.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.89 | 10.45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹231.07 Cr. | ₹155.45 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.22% | 46.23% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 16.44% | 22.88% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.89 | 1.89 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹8.07 | ₹12.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 26.50% | 46.23% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Munish Forge IPO Retail Individual Investors (RII) are offered 25,60,800 shares while in SK Minerals IPO retail investors are offered 25,60,800 shares. Qualified Institutional Buyers (QIB) are offered 14,62,800 shares in Munish Forge IPO and 6,15,000 shares in SK Minerals IPO.
| Munish Forge IPO | SK Minerals IPO | |
|---|---|---|
| Anchor Investor Reservation | 21,93,600 shares | 9,23,000 shares |
| Market Maker Reservation | 3,85,200 shares | 1,62,000 shares |
| QIB | 14,62,800 shares | 6,15,000 shares |
| NII | 10,98,000 shares | 4,62,000 shares |
| RII | 25,60,800 shares | 10,78,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 73,15,200 shares | 30,78,000 shares |
Munish Forge IPO subscribed 3.53x in total, whereas SK Minerals IPO subscribed 3.52x.
| Munish Forge IPO | SK Minerals IPO | |
|---|---|---|
| QIB (times) | 4.05x | 1.01x |
| NII (times) | 4.88x | 7.15x |
| Big NII (times) | 5.93x | 8.84x |
| Small NII (times) | 2.77x | 3.79x |
| RII (times) | 2.66x | 3.39x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 3.53x | 3.52x |
