Fixed Price IPO | ₹25 Cr | Listed at NSE SME | Mon, May 13, 2024 - Wed, May 15, 2024
Mandeep Auto Industries IPO is a fixed price issue of ₹25.25 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹25.25 crore.
Mandeep Auto Industries IPO bidding started from May 13, 2024 and ended on May 15, 2024. The allotment for Mandeep Auto Industries IPO was finalized on May 16, 2024. The shares got listed on NSE SME on May 21, 2024.
Mandeep Auto Industries IPO price is ₹67 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,34,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,68,000.
Jawa Capital Services Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Aftertrade Broking Pvt.Ltd..
Refer to Mandeep Auto Industries IPO RHP for detailed Information.
IPO Open
Mon, May 13, 2024
IPO Close
Wed, May 15, 2024
Issue Price
₹67 per share
Market Cap (Pre-IPO)
₹69.26 Cr
| IPO Date | 13 to 15 May, 2024 |
| Listed on | Tue, May 21, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹67 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 37,68,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 1,90,000 shares Aftertrade Broking Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 35,78,000 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 35,78,000 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 65,69,894 shares |
| Share Holding Post Issue | 1,03,37,894 shares |
| NSE Symbol | MANDEEP |
| ISIN | INE0R3T01013 |
Mandeep Auto Industries IPO comprises a total issue size of 37,68,000 shares. The net offer to the public is 35,78,000 shares, after excluding 1,90,000 shares allotted on a firm basis. Of the Net offer 17,88,000 (49.97%) allocated to NII 17,90,000 (50.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 17,88,000 | 49.97% | 47.45% |
| Retail Shares Offered | 17,90,000 | 50.03% | 47.51% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,90,000 | 5.04% | |
| Total Shares Offered | 37,68,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,34,000 |
| Retail (Max) | 1 | 2,000 | ₹1,34,000 |
| HNI (Min) | 2 | 4,000 | ₹2,68,000 |
Incorporated in 2000, Mandeep Auto Industries Limited is involved in the manufacturing and supply of various products like sheet metal components, auto parts, sprocket gears, and machined components. These products have applications in a diverse range of industries such as automobiles, tractors, material handling and earth moving equipment, railways, defense, machine tools, and even the DIY industry.
The company is supported by experienced professionals specialising in Press and Machining Components. Additionally, it holds both ISO 14001:2015 and ISO 9001:2015 certifications.
The company's client list includes both domestic and global OEMs in the automobile sector. Some of the prominent clients are M/s J.L Auto Parts Pvt. Ltd. (Faridabad, Haryana), M/s Tube Investments of India Limited (Chennai, Tamil Nadu), M/s Rockman Industries Limited (Saket, New Delhi), M/s Manvi Automobiles (Faridabad, Haryana), and M/s Jain Industrial Products Private Limited (Hissar, Haryana).).
As of November 2023, the company employs 54 people and has 15 contract labourers.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 24.25 | 19.63 | 12.98 | 10.50 |
| Total Income | 16.57 | 29.79 | 21.90 | 15.63 |
| Profit After Tax | 2.15 | 1.05 | 0.65 | 0.50 |
| NET Worth | 8.21 | 4.54 | 4.14 | 2.80 |
| Reserves and Surplus | 1.64 | |||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of the existing Manufacturing Facility located at Plot No 26, Nangla, Faridabad Haryana - 121001 by construction of the building on the land adjacent to our existing manufacturing unit, purchase of equipment/machineries, etc. | 9.08 |
| 2 | Repayment/prepayment of certain borrowings availed by our Company | 6.84 |
| 3 | Funding working capital requirements | 6.09 |
| 4 | General Corporate Purpose | 2.23 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 30.15% |
| ROCE | 27.94% |
| Debt/Equity | 1.00 |
| RoNW | 25.97% |
| PAT Margin | 12.97% |
| Price to Book Value | 5.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.60 | 2.77 |
| P/E (x) | 10.15 | 21.97 |
| Promoter Holding | 99.97% | 63.53% |
| Market Cap | ₹69.26 Cr. |
The Mandeep Auto Industries IPO is subscribed 77.23 times on May 15, 2024 6:19:58 PM (Day 3). The public issue subscribed 90.57 times in the retail category, [.] times in the QIB category, and 61.54 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 61.54 | 17,89,000 | 11,00,94,000 |
| Retail | 90.57 | 17,89,000 | 16,20,36,000 |
| Total | 77.23 | 35,78,000 | 27,63,14,000 |
Total Application : 81,018
*Market Maker portion is not included to NII/HNI.
Note: December 31, 2023 financial data is from July to December (six months).
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead manager(s) fees including underwriting commission, Advisor to the issue consultancy fees | 0.32 |
| 2 | Brokerage, selling commission and upload fees including Market maker | 0.25 |
| 3 | Registrars to the issue | 0.01 |
| 4 | Legal Advisors | 0.03 |
| 5 | Advertising and marketing expenses | 0.16 |
| 6 | Regulators including stock exchanges | 0.15 |
| 7 | Printing and distribution of issue stationary | 0.05 |
| 8 | Restatement of Accounts and Peer Review Auditor | 0.03 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹67.00 |
| Open | ₹62.25 |
| Low | ₹59.15 |
| High | ₹65.35 |
| Last Trade | ₹65.35 |
Lead Manager Reports
Mandeep Auto Industries IPO is a SME IPO of 37,68,000 equity shares of the face value of ₹10 aggregating up to ₹25 Crores. The issue is priced at ₹67 per share. The minimum order quantity is 2000.
The IPO opens on Mon, May 13, 2024, and closes on Wed, May 15, 2024.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mandeep Auto Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Mandeep Auto Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mandeep Auto Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mandeep Auto Industries IPO opens on Mon, May 13, 2024 and closes on Wed, May 15, 2024.
Mandeep Auto Industries IPO lot size is 2000, and the minimum amount required for application is ₹1,34,000.
You can apply in Mandeep Auto Industries IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mandeep Auto Industries IPO will be done on Thursday, May 16, 2024, and the allotted shares will be credited to your demat account by Fri, May 17, 2024. Check the Mandeep Auto Industries IPO allotment status.
The Mandeep Auto Industries IPO listing date is on Tue, May 21, 2024.
