Manglam Infra And Engineering IPO opens on July 24, 2024, and closes on July 26, 2024. The allotment for the Manglam Infra And Engineering IPO is anticipated to be completed on Monday, July 29, 2024. The IPO will be listed on the NSE and SME, with a tentative date of Wednesday, July 31, 2024.
The price band for the Manglam Infra And Engineering IPO is set at Rs 53 to Rs 56 per share. The IPO is a book-built issue of Rs 27.62 crores, entirely a fresh issue of 49.32 Lakhs shares.
Manglam Infra And Engineering IPO Details
| IPO Date | July 24, 2024 to July 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹53 to ₹56 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,932,000 shares (aggregating up to ₹27.62 Cr) |
| Fresh Issue | 4,932,000 shares (aggregating up to ₹27.62 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 12,664,700 |
| Shareholding post-issue | 17,596,700 |
| Market Maker portion | 524,000 shares |
Manglam Infra And Engineering IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹112,000 |
| Retail (Max) | 1 | 2000 | ₹112,000 |
| HNI (Min) | 2 | 4000 | ₹224,000 |
Manglam Infra And Engineering IPO Objectives
The objectives of the Issue are:
- To Meet Working Capital Requirements; and
- General Corporate Purpose.
About Manglam Infra and Engineering Limited
Manglam Infra and Engineering Limited, founded in 2010, manages infrastructure projects. The company handles detailed project reports, quality supervision, and the operation and maintenance of highways, bridges, tunnels, and urban buildings. Their services include design, engineering, procurement, construction, and integrated project management.
The company offers a comprehensive range of services such as DPR and feasibility studies, operations and maintenance work, project management consultancy, independent consultancy, project planning, designing, estimation, supervision, quality control, authority engineer supervision, independent engineer services, traffic and transportation engineering, financial analysis, technical audits, structural audits, and inspections of bridges and roads.
Manglam Infra has completed 127 projects across states like Madhya Pradesh, Jammu & Kashmir, Bihar, Arunachal Pradesh, Jharkhand, Himachal Pradesh, Uttar Pradesh, Manipur, Nagaland, Maharashtra, Assam, Rajasthan, Uttarakhand, and Haryana. Of these, 116 projects were independently completed, while 11 were done through joint ventures and MoUs with the central government. As of May 31, 2024, the company employs 272 people, including 159 qualified engineers.
Manglam Infra and Engineering Limited Financial Information
Manglam Infra and Engineering Limited’s revenue increased by 16.46% and profit after tax (PAT) rose by 22.06% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3,318.23 | 2,104.13 | 1,673.32 |
| Revenue | 4,050.79 | 3,478.14 | 2,678.36 |
| Profit After Tax | 676.41 | 554.16 | 332.96 |
| Net Worth | 1,710.20 | 1,025.95 | 778.69 |
| Reserves and Surplus | 443.73 | ||
| Total Borrowing | 447.31 | 225.91 | 186.91 |
Manglam Infra And Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Manglam Infra And Engineering IPO Timeline
Manglam Infra And Engineering IPO opens on July 24, 2024, and closes on July 26, 2024.
| IPO Open Date | Wednesday, July 24, 2024 |
| IPO Close Date | Friday, July 26, 2024 |
| Basis of Allotment | Monday, July 29, 2024 |
| Initiation of Refunds | Tuesday, July 30, 2024 |
| A credit of Shares to Demat | Tuesday, July 30, 2024 |
| Listing Date | Wednesday, July 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 26, 2024 |
Conclusion
Manglam Infra and Engineering Limited is set to launch its IPO from July 24 to July 26, 2024, with a price band of Rs53 to Rs56 per share. The IPO is entirely a fresh issue of 4,932,000 shares, aiming to raise Rs27.62 crore. The company, established in 2010, has a strong track record in managing infrastructure projects across multiple states in India, and the proceeds will be used to meet working capital requirements and for general corporate purposes. The shares are expected to be listed on the NSE SME platform by July 31, 2024, providing investors with a new opportunity to invest in a company with a growing financial performance and extensive project experience.
