The Maiden Forgings date has been confirmed from March 23 and ended on March 27
The IPO bidding window for Maiden Forgings Ltd. will be available for two days, March 22–24, 2023. The issuance contains 3,784,000 shares with a face value of Rs. 10 each. Investors can apply for a lot of 2000 shares.
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Bidding Dates
March 23 – 27
Price Range
₹60 to ₹63 per share
Face Value
₹10 per share
GMP
₹-2
Maiden Forgings GMP
The Maiden Forgings IPO GMP is ₹[-2].
IPO Overview
Maiden Forgings IPO is a book built issue of Rs 23.84 crores. The issue is entirely a fresh issue of 37.84 lakh shares.
Maiden Forgings IPO bidding started from March 23, 2023 and ended on March 27, 2023. The allotment for Maiden Forgings IPO was finalized on Friday, March 31, 2023. The shares got listed on BSE SME on April 6, 2023.
Maiden Forgings IPO price band is set at ₹60 to ₹63 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹252,000.
Maiden Forgings IPO Date & Price Band Details
| IPO Date | March 23, 2023 to March 27, 2023 |
| Listing Date | April 6, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹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 ₹23.84 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 190,000 shares |
Maiden Forgings IPO Market Lot
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Share | Amount |
| Retail (Min) | 1 | 2000 | ₹126,000 |
| Retail (Max) | 1 | 2000 | ₹126,000 |
| HNI (Min) | 2 | 4,000 | ₹252,000 |
Maiden Forgings IPO Allotment & Listing Dates
Maiden Forgings IPO opens on March 23, 2023, and closes on March 27, 2023.
| IPO Open Date | Thursday, March 23, 2023 |
| IPO Close Date | Monday, March 27, 2023 |
| Basis of Allotment | Friday, March 31, 2023 |
| Initiation of Refunds | Monday, April 3, 2023 |
| Credit of Shares to Demat | Wednesday, April 5, 2023 |
| Listing Date | Thursday, April 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 27, 2023 |
Maiden Forgings Company Financial Report
| 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 |
Maiden Forgings Company Financials
| Particulars | Year ending on March 31, 2022 (₹ Lakh) | Year ending on March 31, 2021 (₹ Lakh) | Year ending on March 31, 2020 (₹ Lakh) |
| Revenue from Operations | 21050.98 | 19923.61 | 20412. 44 |
| Profit After Tax (PAT) | 213.94 | 168.94 | 165.95 |
| EPS (basic) | 4.10 | 3.24 | 3.57 |
| Current Ratio | 1.36 | 1.34 | 1.23 |
Company Profile
Maiden Forgings Limited (MFL), an ISO & PED certified company, has roots since 1989. The company specializes in all types of Bright steel bars, stainless steel bright bars & all grades of steel wires. Just 30 Kilometers from Delhi airport, the company has its corporate office and plants located in Ghaziabad (Delhi- NCR). The company’s core strength is more than 35 years of experience in making its products & the team of technocrats working in a culture where product quality & on-time delivery are practised as the primary objective. Therefore, over so many years, we have delivered the best quality products to our partners.
Our relationships with shareholders, customers, vendors, bankers, employees and all other stakeholders allow us to perform with perfection every time. Our policies are directed at providing a systematic approach to catalysing hassle-free functioning for all our stakeholders.
Registrar Info
| Name | Maashitla Securities Private Limited |
| Phone number | +91-11-45121795-96 |
| Email ID | mukul@maashitla.com |
| Website | https://maashitla.com/allotment-status/public-issues |
Contact Details
| Name | Maiden Forgings |
| Phone number | +011-44796732 |
| Email ID | cs@maidenforgings.in |
| Website | https://maidenforgings.in/ |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
