Upcoming NSE SME IPO: Munish Forge IPO opens next week; Price, date, other details in 10 points

Upcoming IPO: Munish Forge Ltd. is set to launch its initial public offering (IPO) next week, making it the last SME IPO to be floated in September.

Munish Forge Ltd. is a leading manufacturer of forgings and castings. The company supplies high-precision components to sectors such as defence, oil & gas, automotive, railways, agriculture, and infrastructure.

The company, which will float the NSE SME IPO next week, acts as a key supplier to the Indian Army, and makes battle tank track chains and bomb shells for the armed forces.

Munish Forge's product range includes flanges, scaffolding, auto parts, tank track chains, bomb shells, and fence posts.

“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,” said Davinder Bhasin, MD of the company.

Here is everything you need to know about Munish Forge IPO.

10 key things to know about Munish Forge IPO

1. Munish Forge IPO Date: Munish Forge IPO opening date is on September 30. The NSE SME IPO will close after a bidding period of three days of bidding, on October 3.

2. Munish Forge IPO price band: Munish Forge IPO price band has been set at ₹91 to ₹96 per share with a face valur of ₹10 each.

3. Munish Forge IPO book runner, registrar: Gretex Corporate Services Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the NSE SME issue.

4. Munish Forge IPO lot size and minimum investment: The NSE SME IPO has a lot size of 1,200 shares. High net-worth individuals (HNIs) have to buy a minimum of 3 lots while retail investors can buy 2 lots. The minimum investment for retail investors at the upper end of the price band is ₹2,30,400, while for HNIs it is ₹3,45,600.

5. Munish Forge IPO offer details: Munish Forge IPO is a book building public issue amounting to ₹73.92 crore. It is a combination of fresh issue of 64 lakh crore shares aggregating to ₹61.02 crore and offer for sale of 13 lakh shares totalling to ₹12.90 crore. The anchor portion of the IPO will open on Monday, September 29.

6. Munish Forge IPO objective: The net proceeds from the IPO will be utilised for funding capital expenditure for capacity enhancement, meeting working capital requirements, repaying/pre paying certain borrowings and general corporate purposes, the company said in a statement.

7. Munish Forge IPO allotment: Share allotment of the Munish Forge IPO will be done on Monday, October 6. Refunds to investors who do not receive a lot will be initiated on October 7, while credit of shares to demat accounts of successful investors will also be done on the same day.

8. Munish Forge IPO listing date: Shares of Munish Forge Ltd are expected to list on Wednesday, October 8. The shares will list on the NSE SME platform EMERGE.

9. Munish Forge IPO reservations: According to the draft papers, the company plans to allocate up to 36,56,400 equity shares to the QIB portion, while allocating up to 10,98,000 shares to the Non-Institutional Investors (NIIs), and not less than 25,60,800 equity shares to the retail investors. The market maker portion comprises up to 3,85,200 equity shares.

10. Munish Forge IPO GMP: As of 5:55 am on Saturday, September 27, Munish Forge IPO GMP (grey market premium) stands at ₹0. This indicates a flat listing of the shares at ₹96 on the upper end of the price band.

Please note that grey market premium (GMP) is not the actual price of the listed shares, and is only an assumption. It can be dynamic and change as the Munish Forge IPO opens on September 30.