The initial public offering (IPO) of steel bar and wire maker Maiden Forgings will open for public subscription next week on Wednesday, March 22, 2023 and close on Friday, March 24, 2023. The company’s shares are expected to be listed on the BSE SME platform on April 5, 2023. The exchanges’ SME platform is aimed at small and medium-sized companies.
The initial public offering (IPO) of steel bar and wire maker Maiden Forgings will open for public subscription next week on Wednesday, March 22, 2023 and close on Friday, March 24, 2023. The company’s shares are expected to be listed on the BSE SME platform on April 5, 2023. The exchanges’ SME platform is aimed at small and medium-sized companies.
Of the total of 37,84,000 shares offered, no more than 17,97,000 shares are reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for non-institutional investors (NII) and the remainder for retail investors.
Of the total of 37,84,000 shares offered, no more than 17,97,000 shares are reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for non-institutional investors (NII) and the remainder for retail investors.
The Company intends to use the proceeds of the offering to consolidate and expand manufacturing facilities, working capital and general corporate purpose and expenses of the offering.
The Company intends to use the proceeds of the offering to consolidate and expand manufacturing facilities, working capital and general corporate purpose and expenses of the offering.
Nishant Garg, Managing Director of Maiden Forgings Limited, said: “This IPO will enable us to achieve our long-term goals of developing specialty steel to replace imports in India and expanding into new export markets while providing our customers with the highest quality products delivery.”
Nishant Garg, Managing Director of Maiden Forgings Limited, said: “This IPO will enable us to achieve our long-term goals of developing specialty steel to replace imports in India and expanding into new export markets while providing our customers with the highest quality products delivery.”
The underwriter for the offering is Share India Capital Services Private Limited and the registrar for the offering is Maashitla Securities Private Limited, the statement said.
The underwriter for the offering is Share India Capital Services Private Limited and the registrar for the offering is Maashitla Securities Private Limited, the statement said.
Based in UP, Maiden Forgings has three plants in Ghaziabad where the company manufactures products for customers in the automotive and infrastructure sectors. The company sells its products from Original Equipment Manufacturers (OEM) to major manufacturing companies in various industries such as Prestige TTK, Everest, UM Auto, etc. Nishant Garg and Nivedita Garg are the promoters of the company.
Based in UP, Maiden Forgings has three plants in Ghaziabad where the company manufactures products for customers in the automotive and infrastructure sectors. The company sells its products from Original Equipment Manufacturers (OEM) to major manufacturing companies in various industries such as Prestige TTK, Everest, UM Auto, etc. Nishant Garg and Nivedita Garg are the promoters of the company.
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