Maiden Forgings IPO Details ( Maiden Forgings Limited IPO Review )
(23 Mar 2023 – 27 Mar 2023)
Maiden Forgings Limited, established in 2005, specializes in the production and distribution of ferrous metal goods. The company’s product range encompasses steel bright bars, wires, profiles, collated pneumatic nails, and ground bars.
With all three of its manufacturing facilities situated in Ghaziabad, Uttar Pradesh, India, the company boasts a total annual manufacturing capacity of 50,000 tons across its plants.
Maiden Forgings has a vast network of over 450 B2B customers worldwide, ranging from Original Equipment Manufacturers (OEM) to major manufacturing firms across various industries such as Prestige TTK, Everest, UM Auto, among others.
Maiden Forgings Limited has earned three notable awards in 2018 and 2019. The first is the ‘Fastest Growth in Business Category’ award from Business Sphere magazine, presented by Hon’ble Cabinet Minister Dr. Harshvardhan. The second is the ‘Heroes Next Door Award’ presented by Hon’ble Cabinet Minister Gen. V.K. Singh in 2019. Lastly, the company received the ‘Most Versatile Company for Steel Bright Bar in India’ award from Business Sphere.
Maiden Forgings Company Product:
- S.S. Round Bright Bars – Size: 3mm to 100 mm
- S.S. Hex & Square Bright Bars- Size: 5mm to 65mm
- S.S. Wires – Size: 0.25mm to 23mm
- Carbon & Alloy Steel Bright Bars : Size: 3mm to 100 mm
- Carbon & Alloy Steel Hex & Square Bright Bars: Size: 4mm to 65mm
- Carbon & Alloy Steel Wires : Size: 0.25mm to 23mm
- Plastic Coil Pneumatic Nails and Wire Welded Coil Nails
Maiden Forgings IPO Competitive Strength
- Scalability
- Wide size and grade range
- Specialty Products
- Production capabilities
- Experience of Management
- Strong Market Network
- Market Growth
- Strong Marketing Team directly supervised by Management
- Approvals
- Export Development
- Aggressive marketing policy
- Credibility
- Vision, Commitment & Past success
- Competition
- Strong Financial Discipline
Maiden Forgings IPO Financials Performance ( Results )
Maiden Forgings Limited Financial Information ( Restated Standalone )
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-20 | 9,890.05 | 20,440.37 | 165.95 | 3.57 | 2,136.92 | – | 1,672.02 | 5,788.13 |
| 31-Mar-21 | 10,484.25 | 19,937.49 | 168.94 | 3.24 | 2,899.11 | – | 2,377.71 | 5,428.93 |
| 31-Mar-22 | 11,014.23 | 21,083.72 | 213.94 | 4.10 | 3,113.05 | 60.47 | 2,591.65 | 6,170.75 |
| 31-Dec-22 | 12,595.69 | 16,381.04 | 801.51 | 7.69 | 3,914.56 | 38.30 | 2,871.76 | 6,525.17 |
Objective of IPO Issue
- Consolidation and expansion of the manufacturing facilities.
- Working Capital and General Corporate Purpose.
- Issue Expenses.
Maiden Forgings IPO Basic Details
| IPO Date | Mar 23, 2023 to Mar 27, 2023 |
| Listing Date | Thursday, Apr 06, 2023 |
| Face Value | ₹10 per share |
| Price | ₹60 to ₹63 per share |
| Lot Size | 2000 Shares |
| Issue Size | 3,784,000 shares (aggregating up to ₹23.84 Cr) |
| Fresh Issue | 3,784,000 shares (aggregating up to ₹23.84 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Market Cap (₹ Cr.) | 193.75 |
| QIB Shares Offered | 50% of the Offer |
| NII (HNI) Shares Offered | 15% of the Offer |
| Retail Shares Offered | 35% of the Offer |
| Company Promoters | Mr. Nishant Garg and Ms. Nivedita Garg |
Maiden Forgings IPO Timetable
Maiden Forgings IPO will open on Mar 23, 2023 and close on Mar 27, 2023. You can join Maiden Forgings IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | 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 |
Maiden Forgings IPO Lot Size
For retail investors in Maiden Forgings IPO, 2000 shares will come in 1 lot or the minimum investment will be ₹126,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹126,000.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹126,000 |
| Retail (Max) | 1 | 2000 | ₹126,000 |
| S-HNI (Min) | 2 | 4000 | ₹152,000 |
Maiden Forgings IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | – |
Maiden Forgings IPO Valuation – FY2022
| Earning Per Share (EPS) | ₹7.69 per Equity Share |
| Price/Earning P/E Ratio | 8.38 |
| Return on Net Worth (RoNW) | 20.48% |
| Net Asset Value (NAV) | ₹38.30 per Equity Share |
| Upper Price/Book Value (Price/BV) Ratio | 1.64 |
Maiden Forgings Ltd Peer comparison
| Company Name | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | P/BV Ratio |
| Maiden Forgings Limited | 10 | 7.69 | – | 20.48% | 38.30 | – |
| Peer Group | ||||||
| Bharat Wire Ropes Ltd | 10 | 2.17 | 19.26 | 3.02% | 70.77 | 1.67 |
| Geekay Wires Ltd | 10 | 8.61 | 7.69 | 19.01% | 45.29 | 3.02 |
| Metal Coatings (India) Ltd | 10 | 3.85 | 28.50 | 8.31% | 46.36 | 1.88 |
Maiden Forgings IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 23 March 2023 | ₹0 | – | – |
| 22 March 2023 | ₹0 | – | – |
Maiden Forgings IPO Detail Video:
Maiden Forgings IPO Subscription Status (Bidding Detail)
The Maiden Forgings IPO on Mar 27, 2023 at 7:02:00 PM was subscribed 1.20 times, with the retail category being subscribed 1.12 times, the NII (Non-Institutional Investor) category being subscribed 1.42 times and the QIB (Qualified-Institutional Buyers) category being subscribed 1.00 times.
| Category | Subscription |
| QIB | 1.00x |
| NII | 1.42x |
| Retail | 1.12x |
| Total | 1.20x |
Maiden Forgings IPO Prospectus
Maiden Forgings IPO Rating
| Our Rating | 1.0/5.0 |
Maiden Forgings Compnay Contact Information
Maiden Forgings Limited
Registered Office: B-5, Arihant Tower, Block D Market,
Vivek Vihar, East Delhi, New Delhi – 110092, India
Tel: +011-44796732
Website: https://maidenforgings.in
E-mail: cs@maidenforgings.in
Company Secretary and Compliance Officer: Ms. Monika Negi
Promoters: Mr. Nishant Garg and Ms. Nivedita Garg
CIN: U29810DL2005PLC1329130
Maiden Forgings IPO Registrar
Maashitla Securities Pvt. Limited
Address: 451, Krishna Apra Business Square, Netaji Subhash Place,
Pitampura, Delhi, 110034
Tel No: +91-11-45121795-96
Contact Person: Mr. Mukul Agrawal
Email: mukul@maashitla.com
Website: www.maashitla.com
SEBI Registration No.: INZ000006635
Maiden Forgings IPO Lead Manager
SHARE INDIA CAPITAL SERVICES PVT. LTD.
Address: A-15, Sector-64, Noida – 201301, Uttar Pradesh, India.
Tel No.: +91-0120-4910000
Email: anand.srivastava@shareindia.co.in
Contact Person: Mr. Anand Srivastava
Website: www.shareindia.com
SEBI Registration No.: INM000012537
Maiden Forgings IPO FAQs
What is the lot size of Maiden Forgings IPO?
The total size of Maiden Forgings IPO is ₹23.84 crores and this is a complete fresh Issue.
When will Maiden Forgings IPO start?
Maiden Forgings IPO will Open from 23 March 2023 and IPO will Close on 27 March 2023.
What is the open date of Maiden Forgings IPO?
Maiden Forgings IPO will start from 23 March 2023.
What is the last date ( close date ) of Maiden Forgings IPO?
Maiden Forgings IPO will close from 27 March 2023.
What is the price band of Maiden Forgings IPO?
Maiden Forgings IPO price band is ₹60 to ₹63. ( Upper Price Band: ₹63, Lower Price Band: ₹60 )
What is the minimum amount required to apply for Maiden Forgings IPO?
The minimum investment for retailers to apply for Maiden Forgings IPO is ₹126,000 and the maximum investment is ₹126,000.
What is going on gray market premium of Maiden Forgings IPO?
View gray market premium of Maiden Forgings IPO by Clicking Here
How much is the GMP of Maiden Forgings IPO?
Watch Maiden Forgings IPO GMP Today: Click Here
What is the allotment date of Maiden Forgings IPO?
The allotment date of Maiden Forgings IPO is 03 April 2023.
How to check allotment status in Maiden Forgings IPO?
To check the allotment status of Maiden Forgings IPO, first of all go to the registrar website by clicking here, select your bad Maiden Forgings IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Maiden Forgings IPO?
The listing date of Maiden Forgings IPO is 06 April 2023.
How much will be the listing gain in Maiden Forgings IPO?
View listing gain of Maiden Forgings IPO by Clicking Here
How much time Maiden Forgings IPO is subscribed?
Total 1.20 times subscribed in Maiden Forgings IPO out of which 1.12 times subscription was done in retail quota, 1.00 times subscription in QIB quota and 1.42 times subscription in NII quota.
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