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News Details

20/03/2023 10:40

Maiden Forgings announces launch of initial public offering

Maiden Forgings Ltd. has announced public offering of 3784000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 53.00 per share. The gross proceeds of the issue are expected to be Rs 2,383.92 lakhs.

The company's initial public offer (IPO) will open on 23 March 2023 and is expected to close on 27 March 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 60.00-63.00 per share.

The IPO includes a fresh Issue of 3784000 Equity Shares of the Company at an price of Rs 63.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Maiden Forgings Ltd. anticipates using the proceeds of the issue for .

Share India Capital Services Pvt. Ltd. as lead manager & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.