Manglam Infra And Engineering IPO Subscribed More Than 390 Times On Final Day Of Bidding
The SME issue was subscribed 15.81 times at the end of day 1 and 57.07 times at the end of day 2. The bidding for the IPO will conclude on Friday, July 26.
Manglam Infra And Engineering Ltd. launched its initial public offering with an issue size of Rs. 27.62 crore, consisting entirely of fresh shares amounting to 49.32 lakh. The SME issue was subscribed 15.81 times at the end of day 1 and 57.07 times at the end of day 2. The bidding for the IPO concluded on Friday, July 26.
Manglam Infra And Engineering IPO Day 3 Subscription Details
The Manglam Infra And Engineering IPO has been subscribed 394.42 times as of 06:20 p.m. on Friday, July 26.
Anchor investors: 1 time
Non-institutional buyers: 756.73 times
Retail investors: 371.72 times
Qualified Institutions: 163.04 times
Manglam Infra And Engineering IPO Details
The IPO is priced in the range of Rs. 53 to Rs. 56 per share, with a minimum lot size of 2000 shares, requiring an investment of at least Rs. 112,000 for retail investors. High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (4,000 shares), amounting to Rs. 224,000.
The IPO subscription commenced on July 24, 2024, and will conclude on July 26, 2024. The allotment is expected to be finalised by July 29, 2024, with the IPO scheduled to list on NSE SME on July 31, 2024.
About Manglam Infra And Engineering Ltd.
Established in 2010, Manglam Infra and Engineering Ltd. specialises in managing infrastructure projects across various sectors, including highways, bridges, tunnels, and urban buildings. Their services encompass detailed project reports, engineering, procurement, construction, and integrated project management. The company is known for offering services such as DPR and feasibility studies, project management consultancy, technical audits, and structural inspections.
Manglam Infra And Engineering IPO: Use of Funds and Objectives
The proceeds from the IPO will primarily be utilised to meet working capital requirements and for general corporate purposes, aiming to enhance operational capabilities and support future growth initiatives.
Financial Performance of Manglam Infra And Engineering Limited
Manglam Infra and Engineering Ltd.'s revenue increased by 16.46% and profit after tax (PAT) rose by 22.06% between the financial year ending March 31, 2024, and March 31, 2023.
