31 Mar 2023
Assets106.88
Total Income161.18
EBITDA9.14
Profit After Tax1.97
NET Worth35.94
Reserves and Surplus26.30
Total Borrowing50.22
At a glance
Updated 2026-08-24The shares listed at ₹105.00, a 9.38% move from the issue price. Munish Forge is a SME IPO with an issue size of ₹73.92 crore, proposed for listing on NSE SME. The offer opens on 30th Sep 2025 and closes on 3rd Oct 2025. The issue structure includes a fresh issue of ₹57.32 crore and an offer-for-sale component of ₹12.90 crore. The current listing schedule points to 8th Oct 2025.
Issue details
Listing atNSE SME
Issue typeBook Build Issue
Issue size₹73.92 Cr
Fresh issue₹57.32 Cr
Offer for sale₹12.90 Cr
Face value₹10
Price band₹91.00–₹96.00
Allotment6th Oct 2025
Listing8th Oct 2025
Listing performance
Full performance ↗Issue price₹96.00
Listing price₹105.00
Current price—
Listing gain9.38%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹0.00
GMP / upper price0.00%
Est. listing₹96.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens30th Sep 2025
Closes3rd Oct 2025
Allotment6th Oct 2025
Refund7th Oct 2025
Demat7th Oct 2025
Listing8th Oct 2025
Subscription demand
Full bidding ↗Total3.53×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 2400 | ₹230,400 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery | ₹7.19 Cr |
| Repayment/Pre-payment of Certain Debt Facilities | ₹9.70 Cr |
| Working Capital Requirements | ₹30.00 Cr |
| General Corporate Purposes | ₹2.84 Cr |
| Issue Expenses | ₹11.29 Cr |
| Total | ₹61.02 Cr |
Financials
Full financials ↗31 Mar 2024
Assets113.09
Total Income161.58
EBITDA11.43
Profit After Tax4.39
NET Worth40.52
Reserves and Surplus30.89
Total Borrowing47.16
31 Mar 2025
Assets161.54
Total Income178.63
EBITDA24.36
Profit After Tax14.30
NET Worth67.40
Reserves and Surplus49.69
Total Borrowing60.20
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 21.22% |
| ROCE | 16.44% |
| Debt / Equity | 0.89% |
| RoNW | 26.50% |
| PAT Margin | 8.15% |
| EBITDA Margin | 13.89% |
| Price to Book Value | 2.34 |
Valuation & shareholding
Pre-IPO EPS8.07
Post-IPO EPS5.94
Pre-IPO P/E11.89
Post-IPO P/E16.16
Promoter holding pre100%
Promoter holding post68.01%
Market cap₹231.07 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery | ₹7.19 Cr |
| Repayment/Pre-payment of Certain Debt Facilities | ₹9.70 Cr |
| Working Capital Requirements | ₹30.00 Cr |
| General Corporate Purposes | ₹2.84 Cr |
| Issue Expenses | ₹11.29 Cr |
| Total | ₹61.02 Cr |
Registrar & lead managers
Registrar
Skyline Financial Services Pvt.Ltd.Lead managers
- Gretex Corporate Services Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.