Manglam Infra And Engineering Ltd. launched its initial public offering with an issue size of Rs. 27.62 crore, consisting entirely of fresh shares amounting to 49.32 lakh.
Manglam Infra And Engineering IPO Details
The IPO is priced in the range of Rs. 53 to Rs. 56 per share, with a minimum lot size of 2000 shares, requiring an investment of at least Rs. 112,000 for retail investors. High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (4,000 shares), amounting to Rs. 224,000.
The IPO subscription commenced on July 24, 2024, and will conclude on July 26, 2024. The allotment is expected to be finalised by July 29, 2024, with the IPO scheduled to list on NSE SME on July 31, 2024.
Manglam Infra And Engineering: Day 1 Subscription Details
The IPO has been subscribed 10.44 times as of 03:32 p.m. on Wednesday.
Anchor investors: 1 time
Non-institutional investors: 5.80 times
Retail investors: 17.85 times
Qualified Institutions: 0.91 times
About Manglam Infra And Engineering Ltd.
Established in 2010, Manglam Infra and Engineering Ltd. specialises in managing infrastructure projects across various sectors, including highways, bridges, tunnels, and urban buildings. Their services encompass detailed project reports, engineering, procurement, construction, and integrated project management. The company is known for offering services such as DPR and feasibility studies, project management consultancy, technical audits, and structural inspections.
Manglam Infra And Engineering IPO: Use of Funds and Objectives
The proceeds from the IPO will primarily be utilised to meet working capital requirements and for general corporate purposes, aiming to enhance operational capabilities and support future growth initiatives.
Financial Performance of Manglam Infra And Engineering Limited
Manglam Infra and Engineering Ltd.'s revenue increased by 16.46% and profit after tax (PAT) rose by 22.06% between the financial year ending March 31, 2024, and March 31, 2023.
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