Maiden Forgings Limited IPO Message Board (Page 4)

Visit your branch to check the issue. Even writing to registrar shall help like they helped me in one such instance. I had no amount mismatch issue. Please check that the amount is not for other IPO, you can check which IPO had retail amount 117,400 in CG forums.

Take this matter to SEBI/SCORES. You will get extra interest @ 15% P.A beyond grace period of 15 days of official unblocking date in the form of penalty to be incurred on SCSB. SEBI have to take action on matter within 10 days of received complain.

Even Bank can lift the Lien in the absence of any communication from the Registrar/Company 15 days after finalization of Allotment. Better take up with SEBI/SCORES, they direct the Registrars who in turn instruct the Bank for unlocking. Same thing happened to me in Agarwal Float Glass Issue.

@CB, Svh, Vnaro
Thanks you so much sir, will do as per your guide

@ arvindarvind
No Fixed Rate.
No Premium.
No Sub2.
Better to avoid

Ok
Thanks Vinod bhai.

Annualised revenue is 3 times the borrowings with total assets of approx 2 times the total borrowings also company being cashflow positive since inception, It is a no brainer as per my reading for moderate listing gains as well

@Neeraj

is the company sell their assets to repay borrowing?
i don't think so.
so it doesn't matter asset is 2 times of borrowing.
turnover can be increased by selling to related parties by no or less margin, what is the relation of borrowing with sales?

Cash flow is negative not positive for last year (both from operating activities & net cash flow).

This Kind of borrowing in normal in manufacturing companies specially engaged in business of iron and steel since this industry is capital intensive due to high material cost

USK Infra is subscribed 32x on revenue of 107 Cr with borrowings of approx 40 Cr

TO is not sudden/exponential which indicates that chances of related party transactions are less as mentioned by you. Sales Figures are sustained over a long period of time and not sudden which indicates that core of the company is solid

Expansion as seen into production of specialised high margin products will increase profit margins contributing to higher earnings per share sustainable over a long period of time

@Neeraj

Inventory level continously increasing, with no major change in turnover, creating doubts about that thay are intentionally showing higher to show higher profit but in actual inventory level may not be that high.

so my view is only buy this for long term if next results was good. if anyone have short term view, then he can decide on the basis of gmp.

which is not available righy now.

so totally risky bet.

Why every one has just suddenly forgotten COVID impact on SME companies for FY 20-21 and FY 21-22. Admittedly, there was a minimum 3 months loss of sales and profits while paying for the fixed cost, interest and depreciation. Many SMEs have just been wiped completely during this. It is actually admirable that the Company could still manage to not only survive but posted a decent profit margins. 2022 is the first normal years after long and most of the companies who have survived during covid, have this jump in profits. Why no one is questioning them, whereas many on this forum are making unfounded guess to the motive of this company?

In FY 2020 when there was minimal impact of Covid, still profit was only 1.65 cr on revenue of 204 cr. now profit is 8 cr on revenue of 163 cr.

@ Neerajbhai - Kitni bhi Hajmola lelo, ye digest na hoga.

Besides very high debt and unbelievable 9M FY 2023 financials, company is not as bad as subscription looks like. I will apply if there is meaningful NII by 2.30.

As per my discussion with the team, you also need to look at the product mix

In FY 20 major chunk of turn over was for MS steel which is high volume low margin product but in FY 21 and current FY company is more inclined un production of Carbon Steel and Stainless Steel which are low volume high margin products

Going forward company has also set up a plant which will be operational from April’23 into production and export of nails which are again specialized high margin products

I believe if you invest with a medium to long term view of 1 year you will see tour investment grow approx 55-60% by the end of next FY

I am a banker by profession with 10+ years of experience in lending only and had a look at the financials of the company which i found were fundamentally strong and also visited the plant paired with young and dynamic entrepreneur Mr Nishant Garg who is looking after the company

Company has big plans going forward in the next FY and i believe this can be a goldmine in years to come

Recommended to invest

@ Neerajbhai - ye 1 sal ka patience nahi he. Listing gain batao.
Somehow NII is not moving after crossing 1x.

Neeraj Naman Sir’s name is in the RHP 😊
He’s the director of a company where company’s one of the promoter is also one of the directors.
Looks like Neeraj Sir is a family friend of promoters.
Neeraj Sir, please share a few encouraging facts about the promoters and the company which are not mentioned in the RHP
#ExclusiveForCG
🙏🏻👍

@IPOJoker Bhai,
In my opinion, listing should be FLAT to +2% max. types.

@SSingh Sir i am banker to the group and have trust in the promoter so much so that planning for getting involved in the business leaving behind a well paying job in one of the too private sector bank

All i can say is there is long term gauns to be taken and this this the perfect opportunity as till now 100 pc stake with promoters only

Next FY you will hear something big

Nice!
You seem to be working with Kotak 😊
Really appreciate your efforts for getting more investors in the IPO.
Prabhu aisa shubh chintak sabhi companies ko de..
We all know that IPO will sail through..
Still, all the best sir.. 👍🙏🏻

@Neeraj Naman...
First thanks for opening a new Member account with a Genuine Name.
Secondly, even if we assume it to be a good stock for a long term,. what is there in it to apply in it's IPO when most of the hugely and arguably better IPOs are lisitng flat and moving down post lisitng. If long term is the only plan, why not buy later ???

Sir, any information on GMP of Maiden Forgings?