Friday, February 23, 2024
Home News Maiden Forgings SME IPO Day 2: What GMP and subscription status signals?

Maiden Forgings SME IPO Day 2: What GMP and subscription status signals?

 

Maiden Forgings Limited Limited IPO consists of 3,784,000 shares with a face value of Rs. 10 per share, total 23.84 cr. The offer comprises 2,264,000 shares to retail investors, 360,000 shares to eligible institutional investors and 1,160,000 shares to non-institutional bidders. The IPO opened for bidding on March 23, 2023 and will close tomorrow, March 27, 2023.

issue price between 60 more 63 per share with minimum order quantity of 2000 shares subject to max. 126,000 per lot. The allotment for Maiden Forgings IPO will be finalized on March 31, 2023 and the Maiden Forgings IPO listing date has not been announced yet, however, the expected date is April 6, 2023.

Maiden Forgings IPO subscribed 0.56 times on March 24, 2023 at 7:02:00 PM. On the second day of bidding, the public issue was subscribed 0.37 times in retail category, 0.48 times in QIB category and 0.98 times in NII category. The number of shares bid for by retail category was 8,28,000 as against the offered shares of 22,64,000, the number of shares bid for by Non-Institutional Investors (NII) category was 11 as against the offered shares of 11,60,000 ,32,000, and the number of shares bid for by the Qualified Institutional Buyer (QIB) category was 1,72,000 as against the offered shares of 3,60,000. On Day 1, Maiden Forgings IPO was subscribed 0.23 times, SME Public Issue was subscribed 0.13 times by Retail Category, 0.36 times by NII and 0.48 times by QIB.

Maiden Forging’s latest IPO is GMP 26 March 2023 by 09:00 AM.
Commenting on the outlook for Maiden Forgings SME IPO, AR Ramachandran, Co-Founder & Trainer – Tips2Trades said, “Despite an excellent 9MFY24 where profits have already grown over 4x, the current environment with a high debt-equity The ratio may impact future earnings of Maiden Forgings. Investors should wait for more stability in terms of better ROE in coming quarters and are advised to wait for listing and then for better returns Can shop at lower levels.

Maiden Forgings Limited, established in 2005, manufactures and markets Ferrous Metal Products. The firm has manufacturing plants in Ghaziabad, Uttar Pradesh, India. These facilities have a total annual production capacity of 50,000 tonnes.

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments