The scrip was listed at Rs 105, a premium of 9.37% compared with the initial public offer (IPO) price. The stock is currently up 5% over its listing price.
The counter hit a high of Rs 110.25 and a low of Rs 102. About 33.78 lakh shares of the company changed hands at the counter.
NSE SME Munish Forge’s IPO was subscribed 3.35 times. The issue opened for bidding on 30 September 2025 and it closed on 03 October 2025. The price band of the IPO was fixed between Rs 91 to Rs 96 per share. The equity shares were listed on NSE’s SME platform.
The IPO comprised 77,00,400 equity shares, including a fresh issue of 63,56,400 equity shares and offer for sale (OFS) of 13,44,000 equity shares.
The company intends to utilize the net proceeds for capital expenditure towards civil construction and purchase of additional plant & machinery, repayment/pre-payment of certain debt facilities, working capital requirements and general corporate purposes.
Ahead of the IPO, Munish Forge on 29 September 2025, raised Rs 21.60 crore from anchor investors. The board allotted 21.93 lakh shares at Rs 96 per share to 10 anchor investors.
Munish Forge is a leading manufacturer of forging and casting components, supplying high-precision parts for defense, oil & gas, automotive, railways, agriculture, and infrastructure sectors. Its product range includes flanges, scaffolding, auto parts, tank track chains, bomb shells, and fence posts. As a key supplier to the Indian Army, it manufactures battle tank track chains and bomb shells. With a strong presence in India, the USA, the UK, Canada, and Europe, the company continues to expand globally as a trusted partner known for its integrated production capabilities, innovation, and commitment to quality excellence. As of 31 August 2025, the company had a total of 788 employees on its payroll.
The company recorded revenue from operations of Rs 175.45 crore and net profit of Rs 14.30 crore for the year ended 31 March 2025.