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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.


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