Mumbai: Munish Forge Limited is coming out with its IPO of 77,00,400 equity shares, on ‘NSE Emerge’ platform, that are priced at Rs 91 to Rs 96 each – aggregating to Rs 73.92 crores – which will open on Sept 30, 2025 and close on October 3, 2025.
The Net proceeds of the IPO will be used for funding capital expenditure for capacity enhancement, working capital requirements, repaying/prepaying borrowings and general corporate purposes.
Davinder Bhasin, MD, said here recently that the Company has built its presence in precision engineering and manufacturing for sectors like Defence, oil and gas, automobile and infrastructure.
Replying to questions, Bhasin said the Company manufactured bombshells (with presently one-and-half year’s Government order for this product) and armoured tank “tracks” (which used to be imported from Russia earlier) for India’s defence forces, besides supplying other products including scaffoldings and flanges to other countries like USA, UK, Germany, France and Canada.
The present focus is on business in the Railways, metro lines, besides defence and automotive, with greater future view and expenditure that necessitated this IPO, he said, adding “Our focus is mainly on hi-margin products for Defence, and we have achieved Rs 230 crores revenue in FY25 vis-s-vis Rs 170 crores in FY24.”
FY25 also witnessed the Company achieving EBITDA of Rs 2,436.16 lakhs and PAT of Rs 1,430.13 lakhs.
“We will be going in for new induction furnaces, and manufacturing three different types of bombshells, besides already having installed a 2MW solar panel system for reducing electricity costs,” he said.
Alok Harlalka, Director, Gratex Corporate Services limited, said the IPO will enable the Company to invest in advanced machinery and civil infrastructure, reduce debt, and strengthen its working capital base while also enhancing production capacity, improving operational efficiency, and supporting expansion into new markets in India and globally.
The book running lead manager to the Issue is Gretex Corporate Corporate services Limited, and the Registrar is Skyline Financial Services Private Limited.
