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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 ₹80.00 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). The minimum lot size investment for 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 Date | September 21, 2023 to September 25, 2023 |
| Listing Date | October 4, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹80 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 68,64,000 shares (aggregating up to ₹54.91 Cr) |
| Reserved for Market Maker | 3,44,000 shares Rikhav Securities Ltd. (aggregating up to ₹2.75 Cr) |
| Fresh Issue (Ex Market Maker) | 57,82,400 shares (aggregating up to ₹46.26 Cr) |
| Offer for Sale | 7,37,600 shares of ₹10 (aggregating up to ₹5.90 Cr) |
| Net Offered to Public | 65,20,000 shares (aggregating up to ₹52.16 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,85,59,527 shares |
| Share Holding Post Issue | 2,46,85,927 shares |
Mangalam Alloys IPO offers total 68,64,000 shares. Out of which 32,59,200 (47.48%) allocated to NII, 32,60,800 (47.51%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,44,000 (5.01%) |
| NII (HNI) Shares Offered | 32,59,200 (47.48%) |
| Retail Shares Offered | 32,60,800 (47.51%) |
| Total Shares Offered | 68,64,000 (100.00%) |
Mangalam Alloys IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thu, Sep 21, 2023 |
| IPO Close Date | Mon, Sep 25, 2023 |
| Tentative Allotment | Sat, Sep 2, 2023 |
| Initiation of Refunds | Mon, Oct 2, 2023 |
| Credit of Shares to Demat | Tue, Oct 3, 2023 |
| Tentative Listing Date | Wed, Oct 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 25, 2023 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 ₹197.49 Cr.
| KPI | Values |
|---|---|
| ROE | 12.82 |
| ROCE | 20.92 |
| Debt/Equity | 1.94 |
| RoNW | 13.70% |
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...
| Listing Date | October 4, 2023 |
| BSE Script Code | |
| NSE Symbol | MAL |
| ISIN | INE00C401011 |
| Final Issue Price | ₹80 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹80.00 |
| Open | ₹80.00 |
| Low | ₹76.00 |
| High | ₹80.00 |
| Last Trade | ₹76.00 |
Mangalam Alloys Ltd.
Plot No. 3123-3126,
GIDC Phase III,
Chhatral,
Gandhinagar, Gujarat, 382729
Phone: +91-2764 232064
Email: cs@mangalamalloys.com
Website: https://www.mangalamalloys.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Mangalam Alloys IPO is a SME IPO of 68,64,000 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.
The IPO opens on September 21, 2023, and closes on September 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 September 21, 2023 and closes on September 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 Tuesday, October 3, 2023. Check the Mangalam Alloys IPO allotment status.
The Mangalam Alloys IPO listing date is on Wednesday, October 4, 2023.
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