Fixed Price IPO | ₹55 Cr | Listed at NSE SME | Thu, Sep 21, 2023 - Mon, Sep 25, 2023
Mangalam Alloys IPO is a fixed price issue of ₹54.91 crores. The issue is a combination of fresh issue of 0.61 crore shares aggregating to ₹49.01 crores and offer for sale of 0.07 crore shares aggregating to ₹5.90 crores.
Mangalam Alloys IPO bidding started from Sep 21, 2023 and ended on Sep 25, 2023. The allotment for Mangalam Alloys IPO was finalized on Sep 2, 2023. The shares got listed on NSE SME on Oct 4, 2023.
Mangalam Alloys IPO price is ₹80 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,28,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,56,000.
Expert Global Consultants Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Mangalam Alloys IPO RHP for detailed Information.
IPO Open
Thu, Sep 21, 2023
IPO Close
Mon, Sep 25, 2023
Issue Price
₹80 per share
Market Cap (Pre-IPO)
₹197.49 Cr
| IPO Date | 21 to 25 Sep, 2023 |
| Listed on | Wed, Oct 4, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹80 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 68,64,000 shares (agg. up to ₹55 Cr) |
| Reserved for Market Maker | 3,44,000 shares Rikhav Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 57,82,400 shares (agg. up to ₹46 Cr) |
| Offer for Sale | 7,37,600 shares of ₹10 (agg. up to ₹6 Cr) |
| Net Offered to Public | 65,20,000 shares (agg. up to ₹52 Cr) |
| Share Holding Pre Issue | 1,85,59,527 shares |
| Share Holding Post Issue | 2,46,85,927 shares |
| NSE Symbol | MAL |
| ISIN | INE00C401011 |
Mangalam Alloys IPO comprises a total issue size of 68,64,000 shares. The net offer to the public is 65,20,000 shares, after excluding 3,44,000 shares allotted on a firm basis. Of the Net offer 32,59,200 (49.99%) allocated to NII 32,60,800 (50.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 32,59,200 | 49.99% | 47.48% |
| Retail Shares Offered | 32,60,800 | 50.01% | 47.51% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,44,000 | 5.01% | |
| Total Shares Offered | 68,64,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,28,000 |
| Retail (Max) | 1 | 1,600 | ₹1,28,000 |
| HNI (Min) | 2 | 3,200 | ₹2,56,000 |
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 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 332.02 | 300.67 | 312.11 |
| Total Income | 308.18 | 309.74 | 271.91 |
| Profit After Tax | 10.14 | 5.05 | -6.54 |
| NET Worth | 79.03 | 68.95 | 63.90 |
| Reserves and Surplus | 60.47 | 50.39 | 45.34 |
| Total Borrowing | 153.53 | 163.62 | 167.70 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working capital requirement; | 27.00 |
| 2 | Capital Expenditure for business expansion and research and Development; | 5.33 |
| 3 | General Corporate Purposes; and | 12.25 |
| KPI | |
|---|---|
| ROE | 12.82 |
| ROCE | 20.92 |
| Debt/Equity | 1.94 |
| RoNW | 13.70% |
| PAT Margin | -122.06% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.46 | |
| P/E (x) | 14.65 | 19.46 |
| Promoter Holding | 81.17% | 59.74% |
| Market Cap | ₹197.49 Cr. |
The Mangalam Alloys IPO is subscribed 5.57 times on September 25, 2023 7:29:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.41 | 32,59,200 | 78,48,000 |
| Retail | 8.73 | 32,60,800 | 2,84,51,200 |
| Total | 5.57 | 65,20,000 | 3,63,15,200 |
Total Application : 17,782
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Underwriting commission, brokerage and selling commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs( | 3.00 |
| 2 | Issue relating expenses such as fees to Lead manager Fixed Fee, Registrar to the Issue Legal Advisors, Auditors, Consultants, Paper Advertisements and other expenses incurred/ to be incurred including promotional expenses. | 1.29 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees and other regulatory expenses. | 0.14 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹80.00 |
| Open | ₹80.00 |
| Low | ₹76.00 |
| High | ₹80.00 |
| Last Trade | ₹76.00 |
Lead Manager Reports
Mangalam Alloys IPO is a SME IPO of 68,64,000 equity shares of the face value of ₹10 aggregating up to ₹55 Crores. The issue is priced at ₹80 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Sep 21, 2023, and closes on Mon, Sep 25, 2023.
Skyline Financial Services Pvt.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 Thu, Sep 21, 2023 and closes on Mon, Sep 25, 2023.
Mangalam Alloys IPO lot size is 1600, and the minimum amount required for application is ₹1,28,000.
You can apply in Mangalam Alloys 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 Mangalam Alloys IPO will be done on Saturday, September 2, 2023, and the allotted shares will be credited to your demat account by Tue, Oct 3, 2023. Check the Mangalam Alloys IPO allotment status.
The Mangalam Alloys IPO listing date is on Wed, Oct 4, 2023.
