Manglam Infra and Engineering IPO: The initial public offering (IPO) infrastructure and project management services provider Manglam Infra and Engineering Ltd opened for subscription on July 24 and has been receiving strong demand.
Manglam Infra and Engineering IPO is an SME IPO that will close today, July 26. The public issue has been heavily oversubscribed led by robust demand from retail investors and Non-Institutional Investors (NII).
Manglam Infra IPO shares are also commanding a decent premium in the unlisted market as Manglam Infra IPO GMP today has risen, according to stock market experts.
Let us take a look at Manglam Infra and Engineering IPO subscription status, GMP and other key details of the SME IPO:
Manglam Infra And Engineering IPO has been subscribed 168.13 times in total so far on Friday, the last day of the bidding process. The public issue has received bids for 51.88 crore equity shares as compared with 30.86 lakh shares offered, according to data available till 1:45 pm.
The IPO has been subscribed 202.61 times in the retail category, 52.59 times in the Qualified Institutional Buyers (QIB) category, and 241.88 times in the NII category so far.
Manglam Infra IPO GMP today, or grey market premium today, has risen to ₹50 per share, according to stock market observers. This indicates that Manglam Infra and Engineering shares are trading at ₹106 apiece in the grey market, a premium of nearly 90% to the issue price of ₹56 per share.
Manglam Infra and Engineering IPO is an SME IPO that opened for subscription on Wednesday, July 24, and closes on Friday, July 26. The IPO allotment is expected to be finalized on July 29 and the IPO listing is slated to take place on July 31. Manglam Infra And Engineering IPO shares will be listed on NSE SME.
Manglam Infra IPO price band has been set at ₹53 - 56 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹112,000. The company aims to raise ₹27.62 crore from the book-built issue which is entirely a fresh issue of 49.32 lakh equity shares.
Unistone Capital Pvt Ltd is the book running lead manager of the Manglam Infra And Engineering IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
Manglam Infra and Engineering Ltd helps manage infrastructure projects and offers design, engineering, procurement, construction, and integrated project management services. Yogendra Kumar Singh, Ajay Verma, Nisha Singh and Seema Verma are the promoters of the company.
Manglam Infra and Engineering Ltd reported a net profit of ₹6.76 crore upon a revenue of ₹40.50 crore in FY24. The company’s net profit in FY23 was ₹5.54 crore and revenue was at ₹34.78 crore.
