IPO Alert: Maiden Forgings IPO launches this week sized at Rs.24 crores

Maiden Forgings IPO

Maiden Forging IPO opens

The IPO market is heating up again as a new IPO hits town. Maiden Forgings Limited is launching its IPO on 23rd March 2023, eyeing to raise a capital of Rs.24 crores. Here’s what you need to know about the latest launch.

About Maiden Forgings Limited

Maiden Forgings is a manufacturer and distributor of metal products. Some of the primary products of the company include the following:

  • Steel wires and bars
  • Collated pneumatic nails
  • Ground bars
  • Steel profiles

Maiden Forgings was established in 2005, and it operates through three manufacturing units located in Ghaziabad, Uttar Pradesh. Overall, the three plans carry an annual manufacturing capacity of 50,000 tons.

The company sells to businesses around the world. The most prominent names include Everest, Prestige TTK and UM Auto.

About Maiden Forgings IPO

Here’s a look at the IPO details –

About Maiden Forgings IPO

The proceeds from the IPO would be used to expand and consolidate the manufacturing units, meet the working capital needs, pay for the expenses associated with the issue, and meet other corporate general purposes.

Related - Know what IPO flipping is and why you can do so.

Maiden Forgings Financials

Here’s a look at the financial performance of Maiden Forgings Limited to gauge how the company has performed in the past –

Maiden Forgings Financials

Should you invest?

The company is an SME which operates at reduced levels. However, it has a range of product offerings, some of which have high-profit margins. The company is also expanding the production of high-margin products, which might boost its profitability.

So, you can invest in the scheme if you are looking for SME investment. Remember, for retail investors, the minimum required investment per lot is Rs.1,26,000. If you have sufficient funds and the investment aligns with your needs, you can invest in the IPO.

Related - Learn how an IPO price is determined.

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