Maiden Forgings IPO Particulars & Guidance

Maiden Forgings IPO Particulars & Guidance at,
the Oldest & the most Trusted Investment Blog in India. Operational since 8th December 1999, this is the Only Investment Platform in India, which has successfully completed 23 Years.

Maiden Forgings IPO Guidance:
Though IPO size is somewhat large, the retail portion can be oversubscribed by just 629 applications. so, oversubscription is natural. The pricing is also reasonable. No quotes are seen in the grey market. Small listing gains possible.


Maiden Forgings IPO Grey Market updates 
GMP prior to listing
GMP:  No trades seen
Subject to:  No Trades

Maiden Forgings IPO Subscription Status
On 27 March 2023 @ 5.00 (Closed)
QIB:       360000  Shares,  1.00T
NII:        1160000 Shares, 1.42T
RII:        2264000 Shares,  1.12T
Total:     3784000 Shares  1.20T

Maiden Forgings IPO Particulars & Guidance: About the business

The Company is in the business of manufacturing and sales of diversified ferrous metal products and focuses on providing customized and specialized solutions to a diverse client base across different industries.
Maiden specializes in design and manufacture of different type of ferrous metal products including
carbon steel, stainless-steel and alloy steel, mainly in the form of drawn products like bright bars,
wires, profiles and ground bars. Its fully integrated infrastructure consists of steel melting shops,
rolling mills and finishing machines installed at its three manufacturing facilities (Unit-1, II & III),
located at Kavi Nagar Industrial Area, Ghaziabad, Uttar Pradesh. These manufacturing facilities are
spread over around 12,500 square yards land area having combined aggregated manufacturing
capacity of 50000 MT/p.a.
The Company set up its first manufacturing plant in 2011 at Kavi Nagar Industrial Area at Ghaziabad. In 2015, the Company established its second plant nearby. The third plant of the Company started operations in 2018, also in Ghaziabad.

Over the last few years, our Company has focused extensively on research and technology development, quality measures and on adding new specialized products to its product portfolio besides offering
customized solutions as per requirement of the customers. In 2022, our Company installed a new dedicated production line for manufacturing of collated pneumatic nails as a part of forward integration strategy. By these measures, the Company has created a niche for itself in a commoditized market, otherwise dominated by general wire and bar manufacturers. Our Company has been awarded thrice recently in the year 2018 with the ‘fastest growth in our 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.

Our products are used across industries like automobile, engineering, infrastructure, hardware, utensils etc. Our major customers are spread across states Delhi, Rajasthan, Gujarat, Maharashtra and Uttar Pradesh. Our Company has been exporting small volumes to mainly to US. The exports are likely to grow significantly as recently installed collated pneumatic nail plant becomes fully operational.

For more information about the company, Click

Maiden Forgings IPO Details
IPO opens on Tentative  23 March 2023
IPO closes on   27 March 2023
Issue Type Book Built Issue IPO
Issue Size 3784000 Sh /Rs 23.84 Cr
* Fresh Issue 3784000 Sh /Rs 23.84 Cr
* Offer for Sale  – Sh /Rs – Cr
Face Value per share: Rs. 10
Price Band Rs.60-63
Employee discount  Rs. 0 per share
Retail Lot Size  2000Shares
Listing will at  BSE Sme
Shares offered to
  Shares Rs. (Cr)
QIB (50 %)  360000
NII (15 %)  1160000
RII (35 %) 2264000
Total Shares  3594000 22.64
Retail portion will be oversubscribed by  1132
How much Shares to Apply?
Min Retail Application 2000 Sh Rs. 126000
Min HNI Application  4000 Sh Rs. 252000

Promoters of the IPO

Objects of the IPO:
The Company proposes to utilize the Net Proceeds from the Issue towards
1. Consolidation and expansion of the manufacturing facilities;
2. Working Capital and General Corporate Purpose;

IPO Tentative timetable
IPO opens on 23   March 2023
IPO Closes on 27   March 2023
IPO Allotment on  31 March 2023
Unblocking of ASBA  3 April 2023
Credit of Shares 5 April 2023
Listing on 6 April2023
Registered Office of the Company
B-5, Arihant Tower, Block D
Market, Vivek Vihar, East Delhi,
New Delhi – 110092, India
IPO Lead Managers 
Share India Capital Services Pvt. Ltd
Registrar to the IPO
Maashitla Securities Pvt. Limited
IPO Financial & Analytical Ratios
Year Total Income Net Profit EPS RoNW Cr Cr Rs. %
2019-20 204.40 1.66 3.57 7.77
2020-21 199.37 1.69 3.24 5.83
2021-22  210.84 2.14 4.10 6.87
Book Value of the Share on 31.12.2022 Rs.38.30    
Book Value of the Share after the IPO Rs.-    
Offer Price   Rs. 63    
Ratio Analysis
Upper Price/last EPS 15.37
Upper price/BV Ratio 1.64
Upper price/BV after IPO 

Maiden Forgings IPO Particulars & Guidance
Peer Comparison: 

As on date of DRHP FV Income  PE
  Rs.  in Cr Ratio of
The IPO Company 10 210.84 15.36
Bharat Wire rope 10   19.26
Geekay Wires     7.69
Metal Coatings     28.50


# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

>>Go to Mainboard IPOs Section: Click
>>Get Good Staff or Job, Click:
>>Interested in Used Automobiles or vintage cars? Click:
>>Get solid Guidance on Mutual fund Investments, Click:
>>Study Stock Research Reports, Click:
Interested in Crossword Puzzles? Click:

Leave a Reply

Your email address will not be published. Required fields are marked *