BAJAJ FINSERV DIRECT LIMITED
Latest IPO Information

Munish Forge Ltd. IPO

IPO Date: Sep 30 to Oct 3 2025

Listing Date: Oct 8 2025

Objective

i. Capital expenditure towards Civil construction and Capital expenditure towards purchase of additional machinery.ii. Repayment/Pre-payment of Certain Debt Facilities.iii. Working Capital Requirementsiv. General Corporate Purposes

IPO Details

Face Value ₹ 10.00 Per Share
Issue Size ₹ 50.11 - 52.87 Cr
Price Band ₹ 91.00 - ₹ 96.00 Per Share
Market LOT 2400 shares
Issue Type Book building

About Company

Our company, Munish Forge Limited, envisioned by our founder Mr. Davinder Bhasin is a manufacturer in the forgingand casting industry, specializing in manufacturing premium forged and cast components. With the vision, we haveestablished ourselves as a trusted name in producing forged components that cater to a wide range of industries. We havecontinuously evolved, combining innovation with a commitment to excellence, ensuring that we deliver engineeredsolutions that meet the ever-growing demands of our customers across the globe. We manufacture components like Flange, Scaffolding, Auto parts, .... Tank tracks chains, Bomb shells, Fence post and steelaccessories as per customer specifications and International Standard catering to the requirements of Indian Army andvarious industries such as Defence, Oil and Gas, Automobile, Construction and Infrastructure. Read More
Address

Village - Gobindgarh Adj. Phase- V I I Focal Point

City

Ludhiana

State

Punjab

Pincode

141010

Phone

0161-5218900

Email

info@munishforge.com

Website

www.munishforge.com

About IPO

Listed At NSE
Lead Manager Gretex Corporate Services Ltd.
Promoters
Dev Arjun Bhasin
Dev Arjuna Enterprises Pvt Ltd.
Munish Promoters and Developers Pvt Ltd.
Davinder Bhasin
Minakshi Bhasin

Promoter's Holding

Registrar

Skyline Financial Services Pvt Ltd

91-011-26812682/84
admin@skylinerta.com

Latest News

May
31
2026
COMPANY Posted on May 31st 2026

MMTC - Quaterly Results

The total revenue stands at Rs. 6.10 millions for the March 2026 quarter. The mentioned figure indicates an increase of about 165.22% as against Rs. 2.30 millions during  the year-ago period.Net Profit for the quarter ended March 2026 zoomed to 9806.25% from Rs. 3.20 millions to Rs. 317.00  millions.Operating profit Margin for the quarter ended March 2026 slipped to -780.70% as compared to 166.70% of corresponding quarter ended March 2025
(Rs. in Million)
  Quarter ended Year to Date Year ended
  202603 202503 % Var 202603 202503 % Var 202603 202503 % Var
Sales 6.10 2.30 165.22 34.10 26.90 26.77 34.10 26.90 26.77
Other Income 354.20 439.10 -19.34 1771.70 2600.90 -31.88 1771.70 2600.90 -31.88
PBIDT -780.70 166.70 -568.33 -44.80 1214.30 -103.69 -44.80 1214.30 -103.69
Interest 2.30 1.10 109.09 7.80 8.80 -11.36 7.80 8.80 -11.36
PBDT 177.60 140.60 26.32 4684.40 1017.10 360.56 4684.40 1017.10 360.56
Depreciation 22.10 14.90 48.32 51.40 45.10 13.97 51.40 45.10 13.97
PBT 155.50 125.70 23.71 4633.00 972.00 376.65 4633.00 972.00 376.65
TAX -161.50 122.50 -231.84 2512.30 276.70 807.95 2512.30 276.70 807.95
Deferred Tax -16.00 41.80 -138.28 1621.90 41.80 3780.14 1621.90 41.80 3780.14
PAT 317.00 3.20 9806.25 2120.70 695.30 205.01 2120.70 695.30 205.01
Equity 1500.00 1500.00 0.00 1500.00 1500.00 0.00 1500.00 1500.00 0.00
PBIDTM(%) -12798.36 7247.83 -276.58 -131.38 4514.13 -102.91 -131.38 4514.13 -102.91
Read More
May
31
2026
COMPANY Posted on May 31st 2026

Gujarat Energy - Quaterly Results

The sales for the March 2026 quarter moved down to Rs. 59756.30 millions as compared to Rs. 65602.30 millions during the year-ago period.The Net Profit of the company reported a remarkable increase of 1059.68% to Rs. 5205.80  millions  from Rs. 448.90 millions in previous same quarter.Operating profit for the quarter ended March 2026 rose to 9429.70 millions as compared to 7901.20 millions of corresponding quarter ended March 2025.
(Rs. in Million)
  Quarter ended Year to Date Year ended
  202603 202503 % Var 202603 202503 % Var 202603 202503 % Var
Sales 59756.30 65602.30 -8.91 241980.00 277176.50 -12.70 241980.00 277176.50 -12.70
Other Income 1605.00 2042.30 -21.41 6208.90 5994.40 3.58 6208.90 5994.40 3.58
PBIDT 9429.70 7901.20 19.35 37721.20 36767.00 2.60 37721.20 36767.00 2.60
Interest 95.30 85.30 11.72 382.40 376.60 1.54 382.40 376.60 1.54
PBDT 8704.60 2208.20 294.19 36676.60 27767.30 32.09 36676.60 27767.30 32.09
Depreciation 1443.90 1236.70 16.75 5790.10 5444.90 6.34 5790.10 5444.90 6.34
PBT 7260.70 971.50 647.37 30886.50 22322.40 38.37 30886.50 22322.40 38.37
TAX 2054.90 522.60 293.21 7901.00 -12497.40 -163.22 7901.00 -12497.40 -163.22
Deferred Tax 2100.60 522.70 301.87 7946.80 -12553.60 -163.30 7946.80 -12553.60 -163.30
PAT 5205.80 448.90 1059.68 22985.50 34819.80 -33.99 22985.50 34819.80 -33.99
Equity 1876.40 1876.40 0.00 1876.40 1876.40 0.00 1876.40 1876.40 0.00
PBIDTM(%) 15.78 12.04 31.02 15.59 13.26 17.52 15.59 13.26 17.52
Read More
May
31
2026
COMPANY Posted on May 31st 2026

Jupiter Wagons - Quaterly Results

The sales slipped to Rs. 6451.18 millions, down -35.62% for the March 2026 quarter as against Rs. 10020.38 millions during the year-ago period.Net Profit of the company move down -60.33% to Rs. 386.11  millions from Rs. 973.28 millions  in the same quarter last year.The Operating Profit of the company witnessed a decrease to 756.52 millions from 1533.67 millions.
(Rs. in Million)
  Quarter ended Year to Date Year ended
  202603 202503 % Var 202603 202503 % Var 202603 202503 % Var
Sales 6451.18 10020.38 -35.62 25391.48 38706.25 -34.40 25391.48 38706.25 -34.40
Other Income 85.30 87.44 -2.45 381.66 342.42 11.46 381.66 342.42 11.46
PBIDT 756.52 1533.67 -50.67 3376.69 5821.42 -42.00 3376.69 5821.42 -42.00
Interest 123.98 138.08 -10.21 563.03 531.01 6.03 563.03 531.01 6.03
PBDT 632.54 1395.59 -54.68 2813.66 5290.41 -46.82 2813.66 5290.41 -46.82
Depreciation 91.35 81.13 12.60 353.88 307.03 15.26 353.88 307.03 15.26
PBT 541.19 1314.46 -58.83 2459.78 4983.38 -50.64 2459.78 4983.38 -50.64
TAX 155.08 341.18 -54.55 634.74 1253.00 -49.34 634.74 1253.00 -49.34
Deferred Tax 29.29 18.35 59.62 69.03 21.09 227.31 69.03 21.09 227.31
PAT 386.11 973.28 -60.33 1825.04 3730.38 -51.08 1825.04 3730.38 -51.08
Equity 4273.70 4244.98 0.68 4273.70 4244.98 0.68 4273.70 4244.98 0.68
PBIDTM(%) 11.73 15.31 -23.38 13.30 15.04 -11.58 13.30 15.04 -11.58
Read More
May
31
2026
COMPANY Posted on May 31st 2026

Exato Technologies - Quaterly Results

A fair growth of 5.02% in the revenue at Rs. 607.73 millions was reported in the March 2026 quarter as compared to Rs. 578.67 millions during year-ago period.The Net Profit of the company registered a slight decline of -10.71% to Rs. 43.51  millions from Rs. 48.73 millions.A decline of 69.33 millions was observed in the OP in the quarter ended March 2026 from 79.57 millions on QoQ basis.
(Rs. in Million)
  Quarter ended Year to Date Year ended
  202603 202503 % Var 202603 202503 % Var 202603 202503 % Var
Sales 607.73 578.67 5.02 1665.81 1233.66 35.03 1665.81 1233.66 35.03
Other Income 4.80 2.97 61.62 10.64 19.31 -44.90 10.64 19.31 -44.90
PBIDT 69.33 79.57 -12.87 253.70 155.11 63.56 253.70 155.11 63.56
Interest 2.98 6.43 -53.65 18.82 19.72 -4.56 18.82 19.72 -4.56
PBDT 66.35 73.14 -9.28 234.77 137.58 70.64 234.77 137.58 70.64
Depreciation 2.05 1.67 22.75 7.75 5.97 29.82 7.75 5.97 29.82
PBT 64.30 71.47 -10.03 227.02 131.61 72.49 227.02 131.61 72.49
TAX 20.79 22.74 -8.58 66.15 37.11 78.25 66.15 37.11 78.25
Deferred Tax -0.71 1.41 -150.35 -1.90 -2.66 -28.57 -1.90 -2.66 -28.57
PAT 43.51 48.73 -10.71 160.87 94.50 70.23 160.87 94.50 70.23
Equity 100.65 0.14 71792.86 100.65 0.14 71792.86 100.65 0.14 71792.86
PBIDTM(%) 11.41 13.75 -17.04 15.23 12.57 21.13 15.23 12.57 21.13
Read More
May
31
2026
COMPANY Posted on May 31st 2026

Midwest Energy - Quaterly Results

The total revenue stands at Rs. 40.95 millions for the March 2026 quarter. The mentioned figure indicates an increase of about 545.90% as against Rs. 6.34 millions during  the year-ago period.The Total Profit for the quarter ended March 2026 of Rs. 2.23 millions grew from Rs.-19.66 millions Operating profit Margin for the quarter ended March 2026 improved to 7.65% as compared to -13.43% of corresponding quarter ended March 2025
(Rs. in Million)
  Quarter ended Year to Date Year ended
  202603 202503 % Var 202603 202503 % Var 202603 202503 % Var
Sales 40.95 6.34 545.90 244.64 9.07 2597.24 244.64 9.07 2597.24
Other Income 20.50 6.11 235.52 75.28 28.54 163.77 75.28 28.54 163.77
PBIDT 7.65 -13.43 -156.96 55.15 -7.72 -814.38 55.15 -7.72 -814.38
Interest 5.04 5.95 -15.29 25.85 22.03 17.34 25.85 22.03 17.34
PBDT 2.61 -19.38 -113.47 29.30 -29.75 -198.49 29.30 -29.75 -198.49
Depreciation 0.38 0.28 35.71 1.35 1.06 27.36 1.35 1.06 27.36
PBT 2.23 -19.66 -111.34 27.95 -30.81 -190.72 27.95 -30.81 -190.72
TAX 0.00 0.00 0.00 0.00 -0.39 0.00 0.00 -0.39 0.00
Deferred Tax 0.00 0.00 0.00 0.00 -0.39 0.00 0.00 -0.39 0.00
PAT 2.23 -19.66 -111.34 27.95 -30.42 -191.88 27.95 -30.42 -191.88
Equity 128.99 110.48 16.75 128.99 110.48 16.75 128.99 110.48 16.75
PBIDTM(%) 18.68 -211.83 -108.82 22.54 -85.12 -126.49 22.54 -85.12 -126.49
Read More
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Frequently Asked Questions

What is the issue size of Munish Forge Ltd. IPO?

The issue size of Munish Forge Ltd. IPO is ₹50.11 - 52.87 crore.

The Munish Forge Ltd. IPO opens for subscription on 2025-09-30 and closes on 2025-10-03.

The price range of Munish Forge Ltd. IPO is ₹91.00 to ₹96.00.

The lot size of Munish Forge Ltd. IPO is 2400 shares.

The registrar of Munish Forge Ltd. IPO is Skyline Financial Services Pvt Ltd .

Munish Forge Ltd. IPO will be listed on NSE .

You will typically receive a confirmation message or notification from your broker or trading platform shortly after placing your IPO order. This confirms that your application has been submitted successfully. You can also check the order status in the IPO section of your trading account or app.

Apply early with valid UPI and PAN before 2025-10-03 to increase your chances.

The listing date of Munish Forge Ltd. IPO is 2025-10-08.

An Initial Public Offering (IPO) is when a private company sells shares to the public for the first time, enabling investors to purchase these shares and gain partial ownership in the business. For instance, if a well-known tech firm wants to grow and requires additional funds, it might choose to go public through an IPO. During this process, investors can buy shares, and the company’s stock starts trading on the stock exchange on the day of the IPO listing.

Investors can apply for an IPO through their bank or brokerage account. Many trading platforms have a specific section for IPOs where users can submit their applications online.

The primary market is where shares are offered to the public for the first time via an IPO. After the IPO, shares are traded on the secondary market (stock exchange), where existing shareholders can sell to new buyers.

Investing in an IPO offers the opportunity to become an early investor in companies with high growth potential, at a price which may be lower than their post-listing market value. It provides a chance to participate in the company's growth journey from its early stages. However, IPO investments also come with inherent risks, such as market volatility and uncertainties about the company's future performance.

The price of an IPO is established through a systematic process known as "book building." In this method, investors bid within a given price range, and the final price is set based on demand and market conditions. Several factors play a crucial role in determining the IPO price, including:

Past Financial Performance: Evaluating the company's revenue, profits, and financial stability over time

Growth Potential: Assessing future prospects based on the company's business model and market opportunities

Industry Peers: Comparing valuation metrics with similar companies in the same sector

Larger Industry Picture: Analysing overall industry trends and economic conditions that could impact the company's performance

The lock-in period for IPO shares refers to a duration during which specific investors are restricted from selling their shares post-listing. This period varies based on the type of investor:

Promoters: The lock-in period for promoters ranges from 6 months to 18 months, ensuring their commitment to the company's long-term growth

Anchor Investors: Typically, anchor investors face a shorter lock-in period of 30 to 90 days, depending on regulatory norms and the specific IPO

IPOs can be volatile and may not perform as expected in the short term. Investors risk losing capital if the stock price drops after listing, especially if the company does not meet its growth projections.

Information on upcoming IPOs is often available through brokerage platforms, financial news sites, and regulatory bodies like SEBI, which publishes details on companies going public. You can also get these details under the upcoming IPO section on Bajaj Markets.

Eligibility for an IPO typically includes:

Retail Investors: Individuals who invest in smaller amounts, usually under the “retail investor” category, with certain limits

Qualified Institutional Buyers (QIBs): Entities like mutual funds, banks, and insurance companies, who invest large sums

Non-Institutional Investors (NIIs): High-net-worth individuals or entities investing above the retail threshold

Investors must have a Demat and trading account to apply, and in some cases, certain financial or residency qualifications may apply depending on local regulations.

SME (Small and Medium Enterprise) IPOs generally carry higher risk but may provide significant growth potential. Investors should research the company’s stability, financials, and sector risks, as SME stocks can be more volatile compared to large-cap companies.

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