Manglam Infra and Engineering Limited IPO

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

Manglam Infra And Engineering IPO Lot Size

Manglam Infra And Engineering IPO Objectives

The objectives of the Issue are:

1. To Meet Working Capital Requirements; and
2. 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.

Manglam Infra And Engineering IPO Reservation

Manglam Infra And Engineering IPO Timeline 

Manglam Infra And Engineering IPO opens on July 24, 2024, and closes 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.