Munish Forge IPO is to open on September 30, 2025. It is a SME IPO that will raise ₹73.92 crores. The Munish Forge IPO price band is fixed at ₹91 to ₹96 with a market lot of 2,400 Shares.
Munish Forge IPO GMP Live Rates day by day with Kostak rates.
| Date | IPO GMP | GMP Trend | Gain |
| 8 Oct | ₹0 | – | 0% |
| 7 Oct | ₹5 |  | 5.20% |
| 6 Oct | ₹5 | | 5.20% |
| 4 Oct | ₹5 | | 5.20% |
| 3 Oct | ₹5 | | 5.20% |
| 1 Oct | ₹7 |  | 7.29% |
Munish Forge IPO Details
| IPO Open Date | September 30, 2025 |
| IPO Close Date | October 3, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹91 to ₹96 Per Share |
| Issue Size | Approx ₹73.92 Crores |
| Fresh Issue | Approx ₹61.02 Crores |
| Offer for Sale: | Approx 13,44,000 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Munish Forge IPO Dates
| IPO Open Date: | September 30, 2025 |
| IPO Close Date: | October 3, 2025 |
| Basis of Allotment: | October 6, 2025 |
| Refunds: | October 7, 2025 |
| Credit to Demat Account: | October 7, 2025 |
| IPO Listing Date: | October 8, 2025 |
| IPO Bidding Cut-off Time: | October 3, 2025 – 5 PM |
Business Overview
Munish Forge Limited, founded in July 1986, is one of the leading manufacturers of components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories. The company offers its services to support the Indian Army and industries like defence, oil & gas, automobile, construction, and infrastructure. The company manufactures products like flanges, scaffolding, auto parts, tank track chains, bomb shells, fence posts, and steel accessories that meet customer needs and international standards. ISO 9001:2015, ISO 14001- 2015, IATF- 16949- 2016, and PED (Pressure Equipment Directive) are some of the certifications the company holds.
Moreover, the company develops important components, especially for the Indian Army’s Battle Tank Track Chains and Bomb Shells. All of these products undergo strict testing in-house at NABL-certified labs to ensure they meet defence standards. As of March 31, 2025, the company had 754 employees.
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