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Mangalam Alloys IPO is a fixed price issue of Rs 54.91 crores. The issue is a combination of fresh issue of 61.26 lakh shares aggregating to Rs 49.01 crores and offer for sale of 7.38 lakh shares aggregating to Rs 5.90 crores.
Mangalam Alloys IPO bidding started from September 21, 2023 and ended on September 25, 2023. The allotment for Mangalam Alloys IPO was finalized on Saturday, September 2, 2023. The shares got listed on NSE SME on October 4, 2023.
Mangalam Alloys IPO price is ₹80 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹256,000.
Expert Global Consultants Private Limited is the book running lead manager of the Mangalam Alloys IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Mangalam Alloys IPO is Rikhav Securities.
Refer to Mangalam Alloys IPO RHP for detailed information.
| IPO Date | September 21, 2023 to September 25, 2023 |
| Listing Date | October 4, 2023 |
| Face Value | ₹10 per share |
| Price | ₹80 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,864,000 shares (aggregating up to ₹54.91 Cr) |
| Fresh Issue | 6,126,400 shares (aggregating up to ₹49.01 Cr) |
| Offer for Sale | 737,600 shares of ₹10 (aggregating up to ₹5.90 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,559,527 |
| Share holding post issue | 24,685,927 |
| Market Maker portion | 344,000 shares Rikhav Securities |
Mangalam Alloys IPO offers 6,864,000 shares. 3,259,200 (47.48%) to NII, 3,260,800 (47.51%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 344,000 (5.01%) |
| Other Shares Offered | 3,259,200 (47.48%) |
| Retail Shares Offered | 3,260,800 (47.51%) |
| Total Shares Offered | 6,864,000 (100%) |
Mangalam Alloys IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Monday, September 25, 2023 |
| Basis of Allotment | Saturday, September 2, 2023 |
| Initiation of Refunds | Monday, October 2, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Wednesday, October 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹128,000 |
| Retail (Max) | 1 | 1600 | ₹128,000 |
| HNI (Min) | 2 | 3,200 | ₹256,000 |
| Lot Size Calculator | |||
Mr. Uttamchand Chandanmal Mehta and Mr. Tushar Uttamchand Mehta are the company's promoters.
| Share Holding Pre Issue | 81.17% |
| Share Holding Post Issue | 59.74% |
Incorporated in 1988, Mangalam Alloys Limited is a manufacturer of stainless-steel-based products.
The company manufactures SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Angle, Patti, Forgings, and Fasteners in more than 30 international grades and in the size range from 3 mm to 400 mm.
Mangalam Alloys manufactures stainless steel ingots through three furnaces by melting stainless steel scrap, rolling ingots to stainless steel rounds & flats followed by a heat treatment annealing furnace and bright bar unit. Its manufacturing unit spread across 40,000 sq. meters of land, has an installed capacity of 25,000 TPA (Melting Capacity).
The company recorded Rs. 30,292.25 Lacs, Rs. 30,936.90 Lacs, and Rs. 27,125.88 Lacs in revenue from operation in fiscal 2023, 2022, and 2021 respectively.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 31,210.81 | 30,066.96 | 33,201.81 |
| Revenue | 27,190.68 | 30,973.94 | 30,817.92 |
| Profit After Tax | -653.69 | 505.08 | 1,013.52 |
| Net Worth | 6,390.37 | 6,895.35 | 7,903.11 |
| Reserves and Surplus | 4,534.42 | 5,039.40 | 6,047.16 |
| Total Borrowing | 16,769.66 | 16,361.81 | 15,353.27 |
The market capitalization of Mangalam Alloys IPO is Rs 197.49 Cr.
| KPI | Values |
|---|---|
| ROE | 12.82 |
| ROCE | 20.92 |
| Debt/Equity | 1.94 |
| RoNW | 13.70% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.46 | |
| P/E (x) | 14.65 | 19.46 |
The company intends to utilize the proceeds of the Issue to meet the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted static top lines for FY22 and FY23, but its bottom line surged in FY23 raising eyebrows. The sustainability of such margins going forward is a major concern. Well-informed/risk-seeker investors may park funds for the medium to long term. Read detail review...
The Mangalam Alloys IPO is subscribed 5.57 times on September 25, 2023 7:29:00 PM. The public issue subscribed 8.73 times in the retail category, times in the QIB category, and 2.41 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.41 |
| Retail | 8.73 |
| Total | 5.57 |
Total Application : 17,782 (8.73 times)
| Listing Date | October 4, 2023 |
| BSE Script Code | |
| NSE Symbol | MAL |
| ISIN | INE00C401011 |
| Final Issue Price | ₹80 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹80.00 |
| ₹80.00 |
| ₹76.00 |
| ₹80.00 |
| ₹76.00 |
Mangalam Alloys Limited
Plot No. 3123-3126,
GIDC Phase III,
Chhatral Dist. Gandhinagar - 382729
Phone: +91-2764 232064
Email: cs@mangalamalloys.com
Website: https://www.mangalamalloys.com/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
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Mangalam Alloys IPO is a SME IPO of 6,864,000 equity shares of the face value of ₹10 aggregating up to ₹54.91 Crores. The issue is priced at ₹80 per share. The minimum order quantity is 1600 Shares.
The IPO opens on September 21, 2023, and closes on September 25, 2023.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mangalam Alloys IPO using UPI as a payment gateway. Zerodha customers can apply in Mangalam Alloys IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mangalam Alloys IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mangalam Alloys IPO opens on September 21, 2023 and closes on September 25, 2023.
Mangalam Alloys IPO lot size is 1600 Shares, and the minimum amount required is ₹128,000.
You can apply in Mangalam Alloys IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Mangalam Alloys IPO will be done on Saturday, September 2, 2023, and the allotted shares will be credited to your demat account by Tuesday, October 3, 2023. Check the Mangalam Alloys IPO allotment status.
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