Bookbuilding IPO | ₹24 Cr | Listed at BSE SME | Thu, Mar 23, 2023 - Mon, Mar 27, 2023
Maiden Forgings IPO is a book build issue of ₹23.84 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹23.84 crore.
Maiden Forgings IPO bidding started from Mar 23, 2023 and ended on Mar 27, 2023. The allotment for Maiden Forgings IPO was finalized on Mar 31, 2023. The shares got listed on BSE SME on Apr 6, 2023.
Maiden Forgings IPO price band is set at ₹63 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,26,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,52,000.
Share India Capital Services Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Share India Securities Ltd..
Refer to Maiden Forgings IPO RHP for detailed Information.
IPO Open
Thu, Mar 23, 2023
IPO Close
Mon, Mar 27, 2023
Issue Price
₹63 per share
Market Cap (Pre-IPO)
₹89.54 Cr
| IPO Date | 23 to 27 Mar, 2023 |
| Listed on | Thu, Apr 6, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹63 |
| Issue Price | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 37,84,000 shares (agg. up to ₹24 Cr) |
| Reserved for Market Maker | 1,90,000 shares Share India Securities Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 35,94,000 shares (agg. up to ₹23 Cr) |
| Net Offered to Public | 35,94,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 1,04,28,000 shares |
| Share Holding Post Issue | 1,42,12,000 shares |
| BSE Script Code | 543874 |
| ISIN | INE0O1T01010 |
Maiden Forgings IPO comprises a total issue size of 37,84,000 shares. The net offer to the public is 35,94,000 shares, after excluding 1,90,000 shares allotted on a firm basis. Of the Net offer 3,60,000 (10.02%) are allocated to QIB, 9,70,000 (26.99%) allocated to NII 22,64,000 (62.99%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 3,60,000 | 10.02% | 9.51% |
| NII (HNI) Shares Offered | 9,70,000 | 26.99% | 25.63% |
| Retail Shares Offered | 22,64,000 | 62.99% | 59.83% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,90,000 | 5.02% | |
| Total Shares Offered | 37,84,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,26,000 |
| Retail (Max) | 1 | 2,000 | ₹1,26,000 |
| HNI (Min) | 2 | 4,000 | ₹2,52,000 |
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.
| Period Ended | 31 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 125.96 | 110.14 | 104.84 | 98.90 |
| Total Income | 163.81 | 210.84 | 199.37 | 204.40 |
| Profit After Tax | 8.02 | 2.14 | 1.69 | 1.66 |
| NET Worth | 39.15 | 31.13 | 28.99 | 21.37 |
| Reserves and Surplus | 28.72 | 25.92 | 23.78 | 16.72 |
| Total Borrowing | 65.25 | 61.71 | 54.29 | 57.88 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Consolidation and expansion of the manufacturing facilities | 9.43 |
| 2 | Working Capital and | 8.00 |
| 3 | General Corporate Purpose | 4.00 |
| KPI | |
|---|---|
| ROE | 6.87 |
| ROCE | 16.97 |
| Debt/Equity | 0.66 |
| RoNW | 6.87 |
| PAT Margin | 1.01% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.10 | |
| P/E (x) | 8.38 | |
| Promoter Holding | 100% | 73.37% |
| Market Cap | ₹89.54 Cr. |
The Maiden Forgings IPO is subscribed 1.2 times on March 27, 2023 7:02:00 PM (Day 3). The public issue subscribed 1.12 times in the retail category, 1 times in the QIB category, and 1.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1 | 3,60,000 | 3,60,000 |
| NII* | 1.42 | 11,60,000 | 16,46,000 |
| Retail | 1.12 | 22,64,000 | 25,44,000 |
| Total | 1.2 | 37,84,000 | 45,50,000 |
Total Application : 1,358
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Market Makers, Bankers and Regulatory Fees & Other Expenses etc. | |
| 2 | Marketing expenses, Selling Commission and other expenses |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹63.00 |
| Low | ₹59.85 |
| High | ₹63.00 |
| Last Trade | ₹59.86 |
Lead Manager Reports
Maiden Forgings IPO is a SME IPO of 37,84,000 equity shares of the face value of ₹10 aggregating up to ₹24 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on Thu, Mar 23, 2023, and closes on Mon, Mar 27, 2023.
Maashitla Securities Pvt.Ltd. 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 Thu, Mar 23, 2023 and closes on Mon, Mar 27, 2023.
Maiden Forgings IPO lot size is 2000, and the minimum amount required for application is ₹1,26,000.
You can apply in Maiden Forgings IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Maiden Forgings IPO will be done on Friday, March 31, 2023, and the allotted shares will be credited to your demat account by Wed, Apr 5, 2023. Check the Maiden Forgings IPO allotment status.
The Maiden Forgings IPO listing date is on Thu, Apr 6, 2023.
