Mangal Compusolution IPO opens for subscription on Tuesday, November 12, and closes on Thursday, November 14. Mangal Compusolution IPO price band has been fixed at range of ₹45 per equity share of face value of ₹10 each. Bids can be made for a minimum of 3,000 equity shares and in multiples of 3,000 equity shares thereafter.
Mangal Compusolution specialises in providing a wide range of IT hardware solutions tailored to the continuously changing technology demands of businesses in diverse sectors. Primarily focusing on IT hardware rentals, the company aims to deliver high-quality equipment and services that empower organisations to excel in the digital era.
The business actively engages in both renting and selling IT hardware, offering a full suite of IT equipment. While the company serves clients throughout India, the Maharashtra region significantly contributes to their revenue; for the quarter ending June 30, 2024, Maharashtra represented 96.87% of the total revenue.
As per the red herring prospectus (RHP), the company's (with a P/E of 11.66) sole listed peer is Silicon Rental Solution Ltd (with a P/E of 20.22).
Mangal Compusolution's revenue fell by 32.69%, while profit after tax (PAT) declined by 45.21% between the financial years ending March 31, 2024, and March 31, 2023.
Tentatively, Mangal Compusolution IPO basis of allotment of shares will be finalised on Monday, November 18, and the company will initiate refunds on Tuesday, November 19, while the shares will be credited to the demat account of allottees on the same day following refund. Mangal Compusolution share price is likely to be listed on BSE SME on Wednesday, November 20.
Mangal Compusolution IPO consists of fresh issue of 3,606,000 equity shares aggregating to ₹16.23 crore. There's no offer for sale (OFS) component.
The firm intends to apply the net proceeds from the issuance for various purposes, including capital expenditures and general corporate needs.
Jawa Capital Services Private Limited serves as the book running lead manager for the Mangal Compusolution IPO, with Kfin Technologies Limited acting as the registrar for this offering. The market maker for the Mangal Compusolution IPO is Rikhav Securities.
Mangal Compusolution IPO GMP today is +3. This indicates Mangal Compusolution share price was trading at a premium of ₹3 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mangal Compusolution share price is indicated at ₹48 apiece, which is 6.67% higher than the IPO price of ₹45.
Following the grey market activities from the last five sessions, today's IPO GMP shows an upward trend and is anticipated to have a robust listing. The minimum GMP sits at ₹2, while the maximum GMP reaches ₹3, as per insights from investorgain.com experts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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