Munish Forge SME IPO Lists at ₹105, Jumps 9.4% on Strong Market Debut

Ludhiana, October 8, 2025: Munish Forge Limited IPO shares opened strongly on Wednesday, listing at ₹105 per share on the NSE Emerge, up 9.4% from the issue price of ₹96. The stock later touched an intraday high of ₹110.25, reflecting robust investor demand and healthy post-listing trading activity.

The shares of Munish Forge Limited traded in a range of ₹102 to ₹110 during the session, matching its 52-week low and high. The company’s price-to-book ratio stands at 2, while the price-to-earnings ratio is 12, reflecting its valuation relative to book value and earnings. The stock’s proximity to its 52-week high, combined with a healthy P/E ratio, indicates strong investor interest and bullish market sentiment towards Munish Forge Limited.

Munish Forge Limited was established in 1986. It is a Ludhiana-based forged and casting unit that supplies products to industries like defence, oil & gas, automobile, railways, agriculture, and infrastructure. It produces products like flanges, scaffolding, fabricated structures, tank track chains, and bomb shells. With over forty years of experience, the company has managed to establish a solid presence in the export market, including the USA, UK, Canada, and European regions. Munish Forge has recently entered the railway casting and energy-based production sectors, emphasizing innovation and energy efficiency.

Munish Forge IPO Anchor Allocation

Prior to the IPO, Munish Forge Limited raised ₹21.06 crore through the anchor book allotment of 21.94 lakh shares at ₹96 each on September 29. Key anchor investors included Strategic Sixth Sense Capital Fund, Saint Capital Fund, Next Orbit Growth Fund III, SB Opportunities Fund II, Shine Star Build-Cap Pvt Ltd, CP Capital Ltd, Arnesta Global Opportunities Fund, Eminence Global Fund, Steptrade Revolution Fund, and 3 Sigma Global Fund, reflecting strong institutional confidence ahead of the public listing.

Munish Forge IPO Subscription Recap

Munish Forge Limited’s ₹74 crore initial public offering, open from September 30 to October 3, 2025, witnessed strong investor demand, closing with an overall subscription of 3.35×.

• Qualified Institutional Buyers (QIBs): 5 applications bidding for 59.18 lakh shares, subscribed 4.04×.
• Non-Institutional Investors (NIIs): 678 applications bidding for 57.41 lakh shares, subscribed 1.57×.
• Retail Individual Investors (RIIs): 2,834 applications bidding for 68.02 lakh shares, subscribed 3.53×.

The strong participation from QIBs and retail investors reflects solid confidence in Munish Forge Limited ahead of its market debut.

REF: https://www.nseindia.com/get-quotes/equity?symbol=MUNISH

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