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15 Days Price Change

Maiden Forgings IPO

Closing In

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WEBSITE Inc. Year: 2005 Industry: Steel & Iron Products Listed Page

Profile
Issue Size --
Profile
Price Range 60  to  60 per share
Profile
Min Investment ₹60
Profile
Lot Size 1
Profile
Face Value ₹10
Profile
Draft Prospectus
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

Maiden Forgings Limited (MFL) is an ISO & PED certified company, founded in 1989. The business specialises in stainless steel bright bars, all forms of bright steel bars, and steel wires in all grades. The company's corporate headquarters and manufacturing facilities are in Ghaziabad (Delhi-NCR), which is only 30 kilometers from Delhi Airport. The team of technocrats working in a culture where product quality & on-time delivery are practised as the main priority and the company's more than 25 years of product manufacturing experience are its greatest strengths. As a result, over the years, we have been able to provide our affiliated partners with products of the highest quality. Read More

Basic Info

Face Value 10 per share

Price 60  to  60 per share

P/E (x) 14

Sales( Cr.) 213

PAT( Cr.) 6

EPS 4.3

Draft Prospectus

Exchange BSE-SME

Promoter

Company Promoters

Mr. Nishant Garg Ms. Nivedita Garg

Pre Issue Share Holding 100%

Post Issue Share Holding --%

Listing Details:

Listing Price: 63

Listing Gain: 4.76%

Current Price: 81

Gain On Issue: 81 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Mar 23, 2023
Closing Date Mar 27, 2023
Allotment Mar 28, 2023
Refund Mar 29, 2023
Delivery of Shares Mar 29, 2023
Listing Date Mar 30, 2023

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 2000 120,000
Retail (Max) 1 2000 120,000
S-HNI (Min) 2 4000 240,000
S-HNI (Max) 8 16000 960,000
B-HNI (Min) 9 18000 1,080,000

Objective of the Issue

1. Consolidation and expansion of the manufacturing facilities. 2. Working Capital and General Corporate Purpose. 3. Issue Expenses.

Issue

Category Nos Bid Bid (x)
QIB 1892000 1892000 1x
NII 567600 805992 1.4x
Retail 1324400 1483328 1.1x
EMP 0 0 0x
Total 3784000 4540800 1.2x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Maiden Forgings Profit & Loss

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 204 199 211 221 236 213
Other Income 0 0 0 0 1 1
Total Income 204 199 211 221 237 214
Total Expenditure 191 186 198 199 213 194
Operating Profit 13 14 13 22 24 20
Interest 7 7 6 5 6 7
Depreciation 4 4 3 4 4 4
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 2 2 3 13 14 9
Provision for Tax 1 1 1 4 4 2
Profit After Tax 2 2 2 10 10 6
Adjustments 0 0 0 0 0 0
Profit After Adjustments 2 2 2 10 10 6
Adjusted Earnings Per Share 1.8 1.6 2.1 9.2 6.8 4.3

Maiden Forgings Balance Sheet

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 21 29 31 41 71 76
Minority's Interest 0 0 0 0 0 0
Borrowings 25 20 19 17 15 20
Other Non-Current Liabilities 1 0 0 1 1 1
Total Current Liabilities 52 55 59 68 62 67
Total Liabilities 99 105 110 127 149 164
Fixed Assets 29 26 24 29 29 37
Other Non-Current Assets 4 4 4 5 7 4
Total Current Assets 66 75 81 92 112 122
Total Assets 99 105 110 127 149 164

Maiden Forgings Cash Flow

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 2 4 3 3 2
Cash Flow from Operating Activities 3 -0 3 11 -12 5
Cash Flow from Investing Activities -3 -0 -2 -9 -7 -9
Cash Flow from Financing Activities -1 2 -1 -2 19 5
Net Cash Inflow / Outflow -1 2 -1 0 -1 0
Closing Cash & Cash Equivalent 2 4 3 3 2 3

Maiden Forgings Ratios

# Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.78 1.62 2.1 9.21 6.84 4.26
CEPS(Rs) 6.51 5.54 5.37 12.59 9.97 7.1
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 22.98 27.8 29.92 38.35 49.93 53.65
Core EBITDA Margin(%) 6.44 6.75 5.79 9.95 9.75 9.04
EBIT Margin(%) 4.43 4.77 4.33 8.51 8.38 7.45
Pre Tax Margin(%) 1.13 1.2 1.43 6.03 5.81 4.01
PAT Margin (%) 0.81 0.85 1.04 4.35 4.12 2.84
Cash Profit Margin (%) 2.96 2.9 2.66 5.94 6 4.74
ROA(%) 1.68 1.66 2.04 8.11 7.06 3.87
ROE(%) 7.77 6.71 7.28 26.99 17.52 8.22
ROCE(%) 10.69 10.89 9.57 18.04 16.4 11.36
Receivable days 55.19 58.55 52.19 43.09 36.53 44.53
Inventory Days 42.57 55.28 67.6 75.88 91.26 122.99
Payable days 26.42 26.46 19.55 19.67 20.22 22.38
PER(x) 0 0 0 0 12.59 14.95
Price/Book(x) 0 0 0 0 1.72 1.19
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 0.32 0.31 0.34 0.34 0.77 0.74
EV/Core EBITDA(x) 4.9 4.59 5.73 3.35 7.54 7.89
Net Sales Growth(%) 0 -2.39 5.66 4.9 6.92 -9.82
EBIT Growth(%) 0 5.08 -4.02 106.09 5.26 -19.8
PAT Growth(%) 0 1.8 29.74 338.23 1.19 -37.77
EPS Growth(%) 0 -9.23 29.74 338.24 -25.75 -37.77
Debt/Equity(x) 2.96 2.1 2.23 1.69 0.88 0.91
Current Ratio(x) 1.26 1.36 1.37 1.35 1.81 1.82
Quick Ratio(x) 0.8 0.7 0.67 0.61 0.72 0.69
Interest Cover(x) 1.34 1.33 1.49 3.43 3.26 2.17
Total Debt/Mcap(x) 0 0 0 0 0.51 0.77

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -10% 0% 1% 0%
Operating Profit CAGR -17% 15% 9% 0%
PAT CAGR -40% 44% 25% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 12% 9% NA% NA%
ROE Average 8% 18% 13% 12%
ROCE Average 11% 15% 13% 13%

Company Contact Information

Maiden Forgings Ltd.

B-5, Arihant Tower Block D, Market Vivek Vihar, East Delhi

IPO Lead Manager(s)

Maiden Forgings Ltd.

Share India Capital Services Pvt Ltd.

Registrar Info

Maiden Forgings Ltd.

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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