Key Points of Maiden Forgings IPO Launch:
- Maiden Forgings is launching an IPO to raise INR 24 crore.
- The IPO will be open from March 22 to March 24.
- The company is offering 37,84,000 equity shares, out of which QIBs have access to 17,97,000 equity shares.
- Non-Institutional Investors (NII) can access 5,39,100 shares, while the remaining shares are reserved for retail individual investors.
- The IPO will enable the company to develop specialty steel for import substitution and expand into new export markets.
- Share India Capital Services Private Limited is the book running lead manager to the issue.
- Maiden Forgings has three plants in Ghaziabad manufacturing products for customers in the auto and infrastructure sectors.
Key Points of Maiden Forgings IPO Launch:
Maiden Forgings Set to Raise INR 24 Crore in IPO Launch
Maiden Forgings, a leading manufacturer of steel bars and wires, has announced its Initial Public Offering (IPO) to raise INR 24 crore. The IPO is set to open on March 22 and close on March 24, as stated by the company in a recent statement.
The company is offering a total of 37,84,000 equity shares, out of which, 17,97,000 equity shares have been reserved for Qualified Institutional Buyers (QIB). Non-Institutional Investors (NII) have access to 5,39,100 shares, while the remaining shares are reserved for retail individual investors.
According to Nishant Garg, the Managing Director of Maiden Forgings Limited, the IPO will enable the company to achieve its long-term objectives of developing specialty steel for import substitution in India and expanding into new export markets, while delivering superior quality products to its customers.
The book running lead manager to the issue is Share India Capital Services Private Limited, while the registrar to the issue is Maashitla Securities Private Limited, as stated in the company’s statement.
Based in Uttar Pradesh, Maiden Forgings operates three plants in Ghaziabad, manufacturing products for customers in the auto and infrastructure sectors. Don’t miss out on the opportunity to invest in this promising steel company!
About Maiden Forgings:
Maiden Forgings can trace its roots back to 1989 and is now an ISO and PED certified company. The organization’s expertise lies in the production of various types of bright steel bars, stainless steel bright bars, and steel wires of all grades.
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