Munish Forge, a company engaged in manufacturing of forgings and castings, plans to raise ₹74 crore through initial public offering on NSE Emerge.
The company will issue about 77 lakh equity shares in the price range of ₹91 – ₹96 a share. The issue will open for subscription on Tuesday.
The net proceeds from the IPO will be used for funding capital expenditure, meeting working capital, reducing debt and general corporate purposes.
Gretex Corporate Services will be the lead manager while Skyline Financial Services has been appointed as registrar.
Davinder Bhasin, Managing Director, Munish Forge, said the company focuses on supplying forged and cast components across sectors, including processes, precision engineering and manufacturing, serving sectors such as Defence, Oil & Gas, Automobile and Infrastructure.
The funds raised will be used to expand manufacturing capacity, he said.
Alok Harlalka, Director, Gretex Corporate Services said the IPO will enable the company to invest in advanced machinery and civil infrastructure, reduce debt and strengthen its working capital base. These steps will enhance production capacity, improve operational efficiency and support expansion into new markets, both in India and globally, he said.