Maiden Forgings Limited (BSE SME)
March 23, 2023 – March 27, 2023
| Price | ₹63 - ₹63 |
| Premium | ₹0 |
|---|---|
| Lot size | 2000 |
| Allotment | Mar 28, 2023 |
| Listing | Apr 6, 2023 |
Maiden Forgings Limited
B-5, Arihant Tower,
Block D Market, Vivek Vihar,
East Delhi, New Delhi – 110092
Phone: +011-44796732
Email: cs@maidenforgings.in
Website: https://maidenforgings.in/
| Category | Shares Offered | Amount (Rs Cr) | Size (%) |
|---|---|---|---|
| QIB | 360,000 | 2.27 | 9.51% |
| NII | 1,160,000 | 7.31 | 30.66% |
| Retail | 2,264,000 | 14.26 | 59.83% |
| Total* | 3,784,000 | 23.84 | 100% |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 2000 | 126000 | 0 |
| HNI | 2 | 4000 | 252000 | 0 |
| Total Issue Size | 3,784,000 shares (aggregating up to ₹23.84 Cr) |
| Fresh Issue | 3,784,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
Incorporated in 2005, Maiden Forgings Limited is engaged in manufacturing and selling ferrous metal products. The company manufactures steel bright bars, wires, profiles, collated pneumatic nails, and ground bars.
The company has three manufacturing plants, all located in Ghaziabad, Uttar Pradesh, India. The combined aggregated manufacturing capacity of these plants is 50,000 tons per annum.
Maiden Forgings has around 450+ B2B customers across the globe. The company sells its products from Original Equipment Manufacturers (OEM) to large manufacturing companies in different industry domains like Prestige TTK, Everest, UM Auto etc.
Maiden Forgings Limited has been awarded thrice recently in the year 2018 with the 'fastest growth in the business category' award through business sphere magazine conferred by Hon'ble cabinet minister Dr. Harshvardhan, "heroes next door award" in the year 2019 conferred by Hon'ble cabinet minister Gen. V.K. Singh and the "most versatile company for steel Bright bar in India" conferred by Business Sphere.
Objects of the Issue
The company intends to utilize the proceeds of the Issue to meet the following objects:
1. Consolidation and expansion of the manufacturing facilities.
2. Working Capital and General Corporate Purpose.
3. Issue Expenses.