Maiden Forgings Limited IPO : Key Highlights

Maiden Forgings Limited IPO is set to launch on 23 March, 2023. The company initiated the business operations in 2005. It is involved in the manufacturing and selling of ferrous metal products. The product portfolio of the firms includes wires, steel bars, collated pneumatic nails, profiles, and ground bars. It has three manufacturing facilities in Uttar Pradesh. The combined manufacturing capacity of the company is 50000 tonnes per annum. 

The company deals with various large manufacturers like Everest, Prestige TTK, UM Auto etc. It has 450+ B2B customers in the world. 

Maiden Forgings Limited IPO DETAILS

Maiden Forgings Limited IPO is set to launch on 23 March., 2023. The subscription timeline extends till 27 March, 2023. The size for the IPO is 23.84 Crore Rs. Shares issued through fresh issue mode are worth 23.84 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 4000 shares and the price is 60 to 63 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Maashitla Securties Private Limited.

Tabular Description of Maiden Forgings Limited IPO 

Maiden Forgings Limited IPO : IMPORTANT DATES

Maiden Forgings Limited IPO begins for subscription from 23 March., 2023. The IPO subscription would continue till 27 March, 2023. The allotment status for the shareholders who applied would come on 31 March, 2023. The refunds for the ones who did not get allotment would be initiated on 3 April, 2023. The DEMAT accounts of shareholders would be credited on 5 April, 2023. The listing of the company would be accompanied on 6 April, 2023.

Maiden Forgings Limited IPO : Lead Managers

The lead managers are :

• Share india Capital Services Private Limited

The minimum lot size for the company is decided at 2000 shares. This holding accounts to  126000 Rs.. The maximum lot size is decided at 4000 shares (HNI). This amounts to 252000 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company needs the IPO money for expansion of its manufacturing facilities. 

COMPANY FINANCIALS

Maiden Forgings Limited has an asset base of 9890 Lakh Rs in 2020. The asset base of the firm increased from 9890 Lakh Rs to 10484 Lakh Rs in 2021 and 11014 lakh Rs in 2022. The revenue of the firm was 20440 Lakh Rs in 2020 which decreased to 19937 Lakh Rs in 2021. However in 2022 the revenue again increased to 21083 Lakh Rs. The profit of the firm was 166 Lakh rs in 2020 which increased to 169 Lakh Rs in 2021 and 214 Lakh Rs in 2022. Overall the finals of the frim look sound except for the decreased revenue in 2021. However the sustained profit figures display a strong position of the firm in the market.

PROS

• The product portfolio of the firms includes wires, steel bars, collated pneumatic nails, profiles, and ground bars. 
• It has three manufacturing facilities in Uttar Pradesh. The combined manufacturing capacity of the company is 50000 tonnes per annum. 
• The company deals with various large manufacturers like Everest, Prestige TTK, UM Auto etc. It has 450+ B2B customers in the world. 

CONS

• The company works into a very competitive segment.

Maiden Forgings Limited IPO APPLICATION PROCESS WITH ZERODHA

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform.
2. Clicking the IPO link present in the Portfolio section.
3. Click the Maiden Forgings Limited IPO button and press the BID button.
4. Entering the details asked for like UPI ID, Quantity and price.
5. Submit the application form for the IPO.
6. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.