Munish Forge IPO GMP & Review: Should You Apply or Avoid?

Check Expert’s Verdicts on Munish Forge IPO

Munish Forge’s IPO is open for bidding from 30th September 2025 to 3rd October 2025. It is a book-building IPO of ₹73.92 crores, comprising an entirely fresh issue of ₹0.64 crores, and the offer for sale is 0.13.  The problem will be listed on NSE and SME on its tentative listing date, 8th October 2025. 

Munish Forge IPO Details 

The Munish Forge IPO date is fixed between 30th September 2025 and 3rd October 2025. The face value of Munish Forge’s IPO shares is ₹10 per share, and the IPO price is set between ₹91 and ₹96 per share.

Skyline Financial Services Private Limited is the registrar of the Munish Forge IPO and is responsible for managing the allotment process and initiating refunds. Check out the latest IPO details in the table below. 

Munish Forge IPO Share Reservation

Munish Forge’s IPO is a book-building IPO of ₹73.92 crores, comprising an entirely fresh issue of 0.64 crore shares, which will be listed on the NSE and SME Exchange. Furthermore, SEBI has specified the share reservation criteria for different investor categories. 

Munish Forge IPO GMP Grey Market Premium

GMP is the gap between the price band of the issue and the price at which company shares are currently trading in the grey market. Would you like to receive live updates on the Munish Forge IPO? If yes, then you’ve reached the right spot. Check the table below to learn about the GMP trends.

As of September 30, 2025, Munish Forge‘s IPO GMP stands at ₹0 per share, indicating that the share is likely to list at ₹96 on its tentative listing date, October 6, 2025.

GMP data is subject to change based on market trends and sentiments. Please verify the live GMP status before applying for the Munish Forge GMP. Stay informed with Univest to know about real-time insights on IPOs and their GMP trends. 

Munish Forge IPO GMP Review

Check out the detailed Munishh Forge GMP IPO review for a thorough understanding of its potential to report listing gains on 8th October 2025. The Munish Forge IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO. 

Financial Health

Assess a company’s financial performance to know about its ability to sustain a competitive edge. Therefore, it is crucial to understand the business’s financial growth margins and declines before applying for the Munish Forge IPO.

Munish Forge Limited’s revenue increased by 0.24% from ₹161.18 crore in March 2023 to ₹161.58 crore in March 2024. Moreover, the company’s PAT rose by 122.84% from ₹1.97 crores to ₹4.39 crores.

Munish Forge Limited’s IPO has demonstrated consistent revenue growth, indicating that the company is financially stable. Moreover, brokers, investors, and RAs have a positive outlook for the Munishh Forge IPO on its tentative listing date,8th October 2025.  

Technical Analysis

Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technical aspects of the Munish Forge IPO.

The P/E ratio of Munish Forge Limited’s share is 38.74, and its Earnings Per Share (EPS) stands at 2.48. Thus, the Munish Forge Limited IPO can deliver gains on its tentative listing date, 8th October  2025. 

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Munish Forge Limited are subject to change following the IPO. Refer to the table below for post-issue updates on these two metrics. 

Munish Forge IPO Subscription Status

The Munish Forge IPO is scheduled to open for bidding on September 30, 2025. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Munish Forge IPO subscription status. 

About Munishh Forge Limited

Munish Forge Limited was established in July 1986. Munish Forge Limited manufactures a range of components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories, all in accordance with customer specifications and international standards. It serves the Indian Army and various industries, including defence, oil and gas, automobile, construction, and infrastructure. The company holds certifications such as ISO 9001:2015, ISO 14001:2015, IATF 16949:2016, and the Pressure Equipment Directive (PED). The company manufactures key components for the Indian Army, including Battle Tank Track Chains and Bomb Shells. Rigorous testing in-house and at NABL-certified labs ensures its products meet Defence-level standards.

Munish Forge Limited Financials

The company’s financial analysis is essential before applying for the Munish Forge  IPO. Refer to the table to learn about Munish Forge Limited’s financial information. 

Explanation

Munish Forge Limited’s revenue increased by 0.24% from ₹161.18 crore in March 2023 to ₹161.58 crore in March 2024. Moreover, the company’s PAT rose by 122.84% from ₹1.97 crores to ₹4.39 crores.

Munish Forge IPO Bidding Requirements

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 thereof. The following table represents the minimum and maximum investments by individual investors (retail) and HNI in terms of shares and amount.

Munish Forge’s IPO has reserved lot sizes for different investor categories. Refer to the table below to view the requirements for applying to this IPO.

Use the lot size calculator to find how many shares you should apply for!

Munish Forge IPO Promoter Holding

Refer to the table below to review the holdings of Munish Forge Limited’s promoters: Sanjay Singhania, Ajay DD Singhania, Bajrang Bothra, Laxmi Pat Bothra and Nikhil Bothra.

Note: The value will be calculated using Equity Dilution = Share Holding Pre-Issue –  Share Holding Post-Issue.

Aim of the Munish Forge IPO

The primary aim of the Munish Forge IPO is to raise ₹73.92 crore. On the other hand, Munish Forge has decided to utilise these funds in different ways. Explore some of the secondary objectives for the Munish Forge IPO.

• To Capital expenditure towards Civil construction and Purchase of additional Plant & Machinery
• To Repayment/Pre-payment of Certain Debt Facilities
• To Working Capital Requirements
• To General Corporate Purposes

Should I Invest in the Munish Forge IPO?

Explore the pros and cons of Munish Forge to know whether you should apply or avoid the issue. These pros and cons may help you understand the IPO’s efficiency in generating profits in the coming decades. 

Pros of Munish Forge IPO

• The company has integrated manufacturing
• The company has innovation-driven engineering
• The company has served prestigious OEMs and Tier-1 suppliers across Europe, North America, the Middle East, and India.  

Cons of Munish Forge IPO

• The company has a dependence on a few major customers
• The company has negative and weak cash flows
• The company has high inventory levels 

How to Apply for the Munish Forge IPO?

Please follow the steps outlined below to apply for a position at Munish Forge Limited.

• Step 1: Conduct thorough research on the Munish Forge IPO, including GMP, subscription status, issue size, lot size, and other relevant details. 
• Step 2: Open a demat account with Univest to gain real-time insights into GMP and subscription status. You can also use your previous demat account by navigating to the IPO section. 
• Step 3: Place a bid for two lots of 2,400 shares, valued at ₹2,30,400.
• Step 4: You will receive a mandate request after making a bid. Approve the request to proceed further.    

Note: You can apply for the Munish Forge IPO from more than one demat account to increase your chances of allotment. 

How to Check Munish Forge IPO Allotment Status?

You can check whether the Munish Forge IPO allotment has been completed in various ways. These include NSE and the registrar portal. Refer to the steps below to check your allotment status online.

Check On BSE

• Visit the BSE Official Website.
• Navigate to the IPO Allotment Section. 
• Select Equity as the issue type. 
• Choose the Munish Forge IPO.  
• Choose whether to proceed with the PAN number or the application number. 
• Submit your details to get the allotment status online. 

Check On the Registrar Portal

• Visit the registrar portal.
• Click on the allotment option.
• Fill in the required details.
• Click on the submit button to know your Munish Forge IPO allotment status.

Let’s Wrap

Munish Forge’s IPO is a fresh issue of shares worth ₹73.92 crore. The shares of Munishh Forge Limited will be listed on the NSE and SME on its tentative listing date of October 8, 2025. Researching the Munish Forge IPO, including GMP and reviews, is highly recommended to secure your ideal profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.

Open a demat account on Univest now to initiate your investment journey!

FAQs on Munish Forge IPO

How is the Munish Forge IPO?

Ans. As of 26th September 2025, the Munish Forge IPO GMP (Grey Market Premium) stands at ₹0. It indicates that the estimated listing price could be ₹96.00 per share. It is a book-building IPO of ₹73.92 crore, comprising an entirely fresh issue of ₹0.64 crore. The face value of each share of Munish Forge Limited is ₹10 per share.

What is the IPO price of Munish Forge?

Ans. The Munish Forge IPO price is set between ₹91 to ₹96 per share.  Retail investors can apply for a minimum of 2 lots, each consisting of 2,400 shares, worth ₹2,30,400. Moreover, HNIs are required to bid for a minimum of 3 lots (3,600 shares) worth ₹3,45,600.

Is the Munish Forge IPO a good investment?

Ans. Munish Forge Limited’s revenue increased by 0.24% from ₹161.18 crore in March 2023 to ₹161.58 crore in March 2024. Moreover, the company’s PAT rose by 122.84% from ₹1.97 crores to ₹4.39 crores.

Who is the registrar of the Munish Forge IPO?

Ans. Skyline Financial Services Private Limited is the registrar of the Munish Forge IPO, responsible for managing the allotment procedure and initiating refunds. For any queries regarding the Munish Forge allotment and refund, you can contact Skyline Financial Services Private Limited at compliances@skylinerta.com or 02228511022.

What is the issue size of the Munish Forge IPO?  

Ans. Munish Forge‘s IPO is a book-building IPO of ₹73.92 crore, comprising an entirely fresh issue of 0.64 crore shares. Moreover, the IPO is set to open on 30th September 2025 and will be closed on 3rd October 2025. 

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Munish Forge IPO, download the Munish Forge IPO RHP and the Munish Forge IPO DRHP. Conduct thorough research before investing in IPOs to minimise the risk of significant losses. You can also consult your financial advisor.

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