Maiden Forgings IPO: GMP, Price, Dates and size

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Maiden Forgings Limited, established in 2005, is a manufacturer and seller of ferrous metal products. The company’s product range includes steel bright bars, wires, profiles, collated pneumatic nails, and ground bars. With three manufacturing plants located in Ghaziabad, Uttar Pradesh, India, Maiden Forgings has an aggregated manufacturing capacity of 50,000 tons per annum. 

The company serves over 450 B2B customers across the globe, including Original Equipment Manufacturers (OEM) and large manufacturing companies in various industry domains, such as Prestige TTK, Everest, and UM Auto. With a focus on quality and customer satisfaction, Maiden Forgings has established itself as a reliable and trusted supplier of ferrous metal products. Its diverse product range and manufacturing capabilities enable it to cater to the diverse needs of its customers, making it a preferred partner for many in the industry. 

Maiden Forgings

Maiden Forgings IPO Details 

IPO Date Mar 23, 2023 to Mar 27, 2023 
Listing Date Apr 06 2023
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 
ITCONS E-Solutions IPO: GMP, Price, Dates and size

Maiden Forgings IPO Tentative Dates 

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 

Industry Overview 

The company specializes in the manufacturing and sale of forged components for various industries, including automotive, aerospace, defense, and oil & gas. The company is based in India and has a wide customer base both domestically and internationally. 

As for the industry CAGR (Compound Annual Growth Rate) for the forged components market, it depends on various factors such as the specific industry, region, and time frame. In general, the global forged components market is expected to grow at a CAGR of around 7% from 2021 to 2026, according to a report by Mordor Intelligence. However, this may vary for specific industries and regions. 

Company Financials  

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 

Objects of the Issue 

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 IPO Prospectus

Company Contact Information

Maiden Forgings Limited
B-5, Arihant Tower,
Block D Market, Vivek Vihar,
East Delhi, New Delhi – 110092
Phone: +011-44796732
Email: cs@maidenforgings.in
Websitehttps://maidenforgings.in/

Maiden Forgings IPO Registrar

Maashitla Securities Pvt. Limited

Phone: +91-11-45121795-96
Email: mukul@maashitla.com
Websitehttps://www.maashitla.com/

Maiden Forgings IPO Lead Manager(s)

  1. Share India Capital Services Private Limited (Past IPO Performance)

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