Maiden Forgings Ltd Share Price – BSE

Steel, Small Cap

Maiden Forgings will hold a meeting of the Board of Directors of the Company on 10 November 2023.

Powered by Capital Market - Live News

Maiden Forgings announced that the 18th Annual General Meeting (AGM) of the company will be held on 21 September 2023.

Powered by Capital Market - Live News

Maiden Forgings will hold a meeting of the Board of Directors of the Company on 30 May 2023.

Powered by Capital Market - Live News

The scrip was listed at Rs 63, at par with the issue price. The scrip hit a high of Rs 63 and a low of Rs 59.85. About 4.64 lakh shares of the company had changed hands at the counter.

The initial public offer (IPO) of Maiden Forgings was subscribed 1.20 times. The issue opened for bidding 23 March 2023 and it closed on 27 March 2023. The IPO price band was at Rs 60-63 per share.

The IPO comprised fresh issue of 37,84,000 shares aggregating up to Rs 3.78 crore.

The promoter and promoter group shareholding diluted to 73.37% post IPO from 100% pre-IPO.

The company intends to utilize the net proceeds from the issue for consolidation and expansion of the manufacturing facilities; working capital; and general corporate purpose.

Maiden Forgings engaged in the business of manufacturing and sales of ferrous metal products including steel bright bars, wires, profiles and ground bars. It has three manufacturing plants, all located in Ghaziabad, Uttar Pradesh, India. The company's products further supplied by original equipment manufacturer (OEM's) to marque clients like Prestige TTK, Everest, UM Auto etc. As on 31 January 2022, the company has 115 employees.

The company recorded a revenue from operations of Rs 163.51 crore and net profit of Rs 8.01 crore for the period ended on 31 December 2022.

Powered by Capital Market - Live News