Munish Forge Limited IPO Opens on Sept 30, 2025

Left to Right: Mr Khimil Soni (NNM Securities), Mr Manoj Pandey (CFO Munish), Mr Sumeet Harlalka (Gretex), Mr Davinder Bhasin (MD Munish), Mr Dev Arjun Bhasin (CEO Munish)

Mumbai (Maharashtra) [India], September 26: Munish Forge is engaged in the manufacturing of forgings and castings, proposes to open its Initial Public Offering on Sept 30, 2025, aiming to raise ₹ 73.92 Crores (at upper price band) with shares to be listed on the NSE Emerge platform.

The issue size is 77,00,400 equity shares with a face value of ₹ 10 each with a price band of ₹ 91 – ₹ 96 Per Share.

Equity Share Allocation

• Qualified Institutional Buyer – Not more than 36,56,400.00 Equity Shares
• Non-Institutional Investors – Not less than 10,98,000.00 Equity Shares
• Individual Investors – Not less than 25,60,800.00 Equity Shares
• Market Maker – Up to 3,85,200.00 Equity Shares

The net proceeds from the IPO will be utilised for funding capital expenditure for capacity enhancement, meeting working capital requirements, repaying/prepaying certain borrowings and general corporate purposes. The anchor portion will open on Monday, Sept 29, 2025 ,and the issue will close on Friday, Oct 03, 2025.

The Book Running Lead Manager to the Issue is Gretex Corporate Services Limited, and the Registrar is Skyline Financial Services Private Limited.

Mr Davinder Bhasin, Managing Director of Munish Forge Limited, expressed, “Over the last four decades, Munish Forge Limited has built its presence in precision engineering and manufacturing, serving sectors such as Defence, Oil & Gas, Automobile, and Infrastructure. The company focuses on supplying forged and cast components, maintaining relationships with its customers, and improving its technology and processes.

The IPO is an important step for the company, and the funds raised will be used to expand manufacturing capacity. The company will continue to focus on its business activities and meet the requirements of its customers and stakeholders.”

Mr Alok Harlalka, Director of Gretex Corporate Services Limited, said, “We are glad to partner with Munish Forge Limited in its IPO journey. With a proven track record in manufacturing forgings and castings for critical sectors such as Defence, Oil & Gas, Automotive, Railways, and Infrastructure, the company is well-positioned for the next phase of growth. The IPO will enable the company to invest in advanced machinery and civil infrastructure, reduce debt, and strengthen its working capital base. These steps will enhance production capacity, improve operational efficiency, and support expansion into new markets, both in India and globally. We believe this fundraiser will help the company grow further and create long-term value.”

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