Munish Forge Limited
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Munish Forge Limited's successfully completed its Initial Public Offering and commenced trading on Oct 08, 2025 at the NSE exchange. The company raised 77,00,400 Shares through this public offering, comprising 63,56,400 Shares in fresh capital and ₹12.90 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹91 to ₹96, with minimum application lots of 1200 shares. The offering attracted significant investor interest during its subscription period from Sep 30, 2025 to Oct 03, 2025.
Share allotment was finalized on Oct 06, 2025, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Munish Forge Limited, incorporated in July 1986, manufactures a wide range of components such as flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories, meeting both customer specifications and international standards. Serving the Indian Army and industries like defence, oil and gas, automobile, construction, and infrastructure, the company holds certifications including ISO 9001:2015, ISO 14001:2015, IATF 16949:2016, and PED. It produces critical defence components like battle tank track chains and bomb shells, with rigorous testing in-house and at NABL-certified labs. Munish Forge also exports products globally, adhering to international standards, and uses advanced manufacturing methods, including induction furnaces and solar power, to improve efficiency and reduce environmental impact. As of March 31, 2025, the company employed 754 people.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Complete In-House Manufacturing: End-to-end processes provide better quality, faster delivery, and operational efficiency.
- Technology-Driven Engineering: CNC machines, robotics, CAD/CAM, and simulation tools improve reliability and reduce production time.
- Robust Process Capability: Can produce diverse, complex, and customized products efficiently.
- International Market Exposure Risk: Business is vulnerable to political, regulatory, and economic uncertainties in overseas markets.
- Key Leadership Dependence: Heavy reliance on promoters and directors; loss of leadership could disrupt operations.
- Compliance & Regulatory Risk: Errors or lapses in corporate filings may result in penalties and weaken financial standing.
- Mr. Davinder Bhasin
- Mr. Dev Arjun Bhasin
- Ms. Minakshi Bhasin
- Munish Promoters and Developers Private Limited
- Dev Arjuna Enterprises Private Limited
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