Munish Forge SME IPO Subscription Status
Munish Forge SME IPO closed on 3 October 2025 with an overall subscription of 3.53x based on shares applied. QIB demand came in at 4.05x, NII at 5.23x, and retail at 2.66x.
Allotment will be finalised on 6 October 2025. The stock is scheduled to list on NSE and BSE on 8 October 2025.
Issue Price
Rs 96.00
GMP Today
-
Overall Subscription
3.53x
Issue Size
₹70.23 Cr
Allotment Date
6 Oct 2025
Listing Date
8 Oct 2025
Munish Forge SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 96.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 14.04 Cr | Rs 56.82 Cr | 4.05x |
| FII | - | Rs 5.01 Cr | - |
| DFI | - | - | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 51.81 Cr | - |
| NII | Rs 10.54 Cr | Rs 55.11 Cr | 5.23x |
| bNII (above Rs 10L) | Rs 7.03 Cr | Rs 45.37 Cr | 6.46x |
| Corporate | - | Rs 5.77 Cr | - |
| Individual | - | Rs 39.39 Cr | - |
| Other | - | Rs 20.74 L | - |
| sNII (Rs 2L to Rs 10L) | Rs 3.51 Cr | Rs 9.75 Cr | 2.77x |
| Corporate | - | Rs 17.28 L | - |
| Individual | - | Rs 9.54 Cr | - |
| Other | - | Rs 3.46 L | - |
| IND | Rs 24.58 Cr | Rs 65.30 Cr | 2.66x |
| Total | Rs 49.17 Cr | Rs 177.22 Cr | 3.60x |
Munish Forge SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 1,219 | 5 | 0.00x |
| FII | - | 1 | - |
| DFI | - | - | - |
| Mutual Funds | - | - | - |
| Other | - | 4 | - |
| NII | 305 | 678 | 2.22x |
| bNII (above Rs 10L) | 203 | 399 | 1.97x |
| Corporate | - | 22 | - |
| Individual | - | 375 | - |
| Other | - | 2 | - |
| sNII (Rs 2L to Rs 10L) | 102 | 279 | 2.74x |
| Corporate | - | 5 | - |
| Individual | - | 273 | - |
| Other | - | 1 | - |
| IND | 1,067 | 2,834 | 2.66x |
| Total | 2,591 | 3,517 | 1.36x |
What Do These Subscription Numbers Mean?
A subscription of 3.53x by shares means the IPO received bids for 4 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 4.05x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 4.05x, it reflects serious institutional conviction.
NII at 2.22x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 1.97x and sNII at 2.74x by applications. Share subscription was 5.23x. Allotment uses application count, not share volume.
At 2.66x subscription by applications, approximately 1 in 3 retail applicants can expect an allotment (~38% per application). Retail allotment is done by lottery when oversubscribed.
Munish Forge SME IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail (IND)
- •Application subscription: 2.66x.
- •Allotment odds: about 1 in 3 (~38% chance per application).
- •Method: Lottery. If allotted, you receive at least one lot.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 2.74x.
- •Allotment odds: about 1 in 3 for a minimum-lot application (~37% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
BHNI (above Rs 10 lakh)
- •Application subscription: 1.97x.
- •Allotment odds: about 1 in 2 for a minimum-lot application (~51% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 6.46x. Allotment uses application count, not share volume.
Check the Munish Forge SME IPO Allotment Status page from 6 October 2025 for your allotment result.
Munish Forge SME IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 30 Sept 2025 | 0.36x | 0.52x | 0.11x | 0.27x |
| Day 2 - 1 Oct 2025 | 0.36x | 0.26x | 0.23x | 0.27x |
| Day 3 - 3 Oct 2025 | 4.05x | 4.88x | 2.66x | 3.53x |
Munish Forge SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 30 September 2025 |
| IPO Close Date | 3 October 2025 |
| Allotment Date | 6 October 2025 |
| Refund Initiation | 7 October 2025 |
| Share Credit to Demat | 7 October 2025 |
| Listing Date | 8 October 2025 |
| Minimum Investment | Rs 2,30,400.00 |
| Lot Size | 1200 shares |
About Munish Forge SME
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
IND - Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Munish Forge SME IPO Subscription FAQs
What is Munish Forge SME IPO subscription status today?
Munish Forge SME IPO subscription closed on 3 October 2025 with overall subscription of 3.53x (by shares) as of 27 June 2026, 2:01 AM IST. QIB 4.05x, NII 2.22x, IND 2.66x.
What is the overall subscription of Munish Forge SME IPO?
Munish Forge SME IPO is subscribed 3.53x overall by shares at close on 3 October 2025. QIB 4.05x, NII 2.22x, and IND 2.66x.
What is Munish Forge SME IPO QIB subscription?
Munish Forge SME IPO QIB (Qualified Institutional Buyers) subscription is 4.05x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Munish Forge SME IPO IND subscription?
Munish Forge SME IPO IND subscription is 2.66x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is Munish Forge SME IPO NII subscription?
Munish Forge SME IPO NII (Non-Institutional Investors) subscription is 2.22x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in Munish Forge SME IPO for retail?
At 2.66x subscription by applications, approximately 1 in 3 retail applicants can expect an allotment (~38% per application). Allotment is done by lottery.
When is Munish Forge SME IPO allotment date?
Munish Forge SME IPO allotment date is 6 October 2025. Check Munish Forge SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does Munish Forge SME IPO subscription close?
Munish Forge SME IPO subscription closed on 3 October 2025. No new applications are accepted after the close.
What is Munish Forge SME IPO GMP today?
GMP for Munish Forge SME IPO is not available yet. Track Munish Forge SME IPO GMP Today on IPOwiz once grey market activity starts.
What is Munish Forge SME IPO issue price and lot size?
Munish Forge SME IPO issue price is ₹96 per share. Lot size is 1200 shares. Minimum investment is ₹2,30,400 per lot (minimum 2 lots for SME). Issue size: ₹70.23 Cr.
When is Munish Forge SME IPO listing date?
Munish Forge SME IPO listing date is 8 October 2025 on NSE and BSE. Allotment is on 6 October 2025.
How does subscription affect Munish Forge SME IPO allotment?
Allotment odds in Munish Forge SME IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII proportional allotment at 2.22x by applications means roughly 1 in 2 for minimum-lot bids; bNII at 1.97x (~1 in 2). At 3.53x overall, competition is moderate.
For allotment results from 6 October 2025, visit the Munish Forge SME IPO Allotment Status page. For listing day updates on 8 October 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.