Comparison between Munish Forge IPO and Twinkle Papers IPO.
Munish Forge IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Twinkle Papers IPO is a SME Bookbuilding proposed to list at BSE SME.
| Munish Forge IPO | Twinkle Papers 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. | Novus Capital Advisors Private Limited |
| Registrar | Skyline Financial Services Pvt.Ltd. | Alankit Assignments Ltd. |
| Market Maker | Gretex Share Broking Pvt.Ltd. | |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | |
| Anchor Investor | Anchor Investor | |
| 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 Twinkle Papers IPO is up to ₹0.00 Cr. The final issue price of Munish Forge IPO is ₹96.00 per share and of Twinkle Papers IPO is .
| Munish Forge IPO | Twinkle Papers IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹91.00 per share | |
| Issue Price (Upper) | ₹96.00 per share | |
| Issue Price (Final) | ₹96.00 per share | |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | |
| Fresh Issue Size | 59,71,200 shares | 39,88,000 shares |
| Fresh Issue Size (Amount) | up to ₹57.32 Cr | up to ₹0.00 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 | 39,88,000 shares |
| Issue Size Total (Amount) | up to ₹70.23 Cr | up to ₹0.00 Cr |
Munish Forge IPO opens on Sep 30, 2025, while Twinkle Papers IPO opens on . The closing date of Munish Forge IPO and Twinkle Papers IPO is Oct 03, 2025, and , respectively.
| Munish Forge IPO | Twinkle Papers IPO | |
|---|---|---|
| Anchor Bid Date | Sep 29, 2025 | |
| Issue Open | Sep 30, 2025 | |
| Issue Close | Oct 03, 2025 | |
| Basis Of Allotment (Tentative) | Oct 06, 2025 | |
| Initiation of Refunds (Tentative) | Oct 07, 2025 | |
| Credit of Share (Tentative) | Oct 07, 2025 | |
| Listing date (Tentative) | Oct 08, 2025 | |
| Anchor Lockin End date 1 | Nov 05, 2025 | |
| Anchor Lockin End date 2 | Jan 04, 2026 |
Munish Forge IPO P/E ratio is 11.89, as compared to Twinkle Papers IPO P/E ratio of .
| Munish Forge IPO | Twinkle Papers IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 Consolidated)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 100 | 98.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 68.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.89 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹231.07 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.22% | 22.66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 16.44% | 22.37% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.89 | 2.09 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹8.07 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 26.50% | 22.66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Munish Forge IPO Retail Individual Investors (RII) are offered 25,60,800 shares while in Twinkle Papers IPO retail investors are offered 25,60,800 shares. Qualified Institutional Buyers (QIB) are offered 14,62,800 shares in Munish Forge IPO and 0 shares in Twinkle Papers IPO.
| Munish Forge IPO | Twinkle Papers IPO | |
|---|---|---|
| Anchor Investor Reservation | 21,93,600 shares | 0 shares |
| Market Maker Reservation | 3,85,200 shares | 0 shares |
| QIB | 14,62,800 shares | 0 shares |
| NII | 10,98,000 shares | 0 shares |
| RII | 25,60,800 shares | 0 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 73,15,200 shares | 0 shares |
Munish Forge IPO subscribed 3.53x in total, whereas Twinkle Papers IPO subscribed .
| Munish Forge IPO | Twinkle Papers IPO | |
|---|---|---|
| QIB (times) | 4.05x | |
| NII (times) | 4.88x | |
| Big NII (times) | 5.93x | |
| Small NII (times) | 2.77x | |
| RII (times) | 2.66x | |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 3.53x |
