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 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 |
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
Website: https://maidenforgings.in/
Maiden Forgings IPO Registrar
Maashitla Securities Pvt. Limited
Phone: +91-11-45121795-96
Email: mukul@maashitla.com
Website: https://www.maashitla.com/
Maiden Forgings IPO Lead Manager(s)
- Share India Capital Services Private Limited (Past IPO Performance)
