Mangal Compusolution Limited's initial public offering (IPO), which opened for bidding on Tuesday, November 12, includes a fresh issue of 36 lakh equity shares aggregating to ₹16.23 crore. The public offer was oversubscribed 34.59 times on Day 3.
Among the subscription segments, retail investors subscribed to the public issue the most, at 46.91 times over their offered portion on Day 3. The Non-Institutional Investors (NIIs) segment was booked 22.28 times of the total shares offered, as per the Chittorgarh data.
IT hardware solutions company IPO opened for public subscription on Tuesday, November 12 and closed on Thursday, November 14. Mangal Compusolution IPO's price band has been fixed at a range of ₹45 per share with a 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.
As of November 13, Mangal Compusolution IPO's grey market premium (GMP) declined to ₹2 per share on Thursday from ₹7 a day earlier. Grey market premium (GMP) is the investor's willingness to pay more on top of the issue price.
The price band of the public issue is fixed at ₹45, and the public issue is expected to be listed at ₹47 per share, i.e. at a premium of 4 per cent, as per Investorgain.com data.
Mangal Compusolution specializes in providing a wide range of IT hardware solutions tailored to the continuously changing technology demands of businesses in diverse sectors.
The company primarily focuses on IT hardware rentals but engages in selling and offering a full suite of IT equipment as well. Mangal Compusolutions aims to use the money raised from the IPO for various purposes, including capital expenditures and general corporate needs.
Jawa Capital Services Private Limited is the book runner for the public issue, while Kfin Technologies Limited is the registrar. The market maker for the Mangal Compusolution IPO is Rikhav Securities.
