Mangal Compusolution IPO Day 3: IT Hardware Solution Provider's ₹16 Crore Issue Subscribed 35 Times; Retail Portion Booked Over 46x

The public offering for Mangal Compusolution Limited was booked almost 35 times, and the IPO closed with a strong subscription on Thursday, November 14.

Over 11.85 crore shares were bid on the BSE SME issue, out of the 34.2 lakh shares that were offered on the last day. This resulted in a 34.64-times subscription.

Subscription across all categories

In the retail category, Mangal Compusolution's IPO was subscribed for 46.9 times, with bids for over 8.02 crore shares compared to 17.1 lakh shares reserved for the segment.

Non-Institutional Investors (NIIs) made 22.39 subscriptions to their quota. NIIs bid on more than 3.82 crore shares, while 17.1 lakh shares were set aside for them.

Price band and minimum bid

A fixed price of 36.06 lakh shares is being offered in the Mangal Compusolution initial public offering. The issue will have a fixed price of Rs 45 per share.

In order to participate in the Mangal Compusolution IPO, retail investors must bid at least 3,000 shares, or Rs 1,35,000 in total. HNIs, on the other hand, can apply for a minimum of two lots, each with 6,000 shares, for a total investment of Rs 2,70,000.

Listing and subscription timetable

After the share allocation status for the public issue is finalised on Tuesday, November 19, refunds for unsuccessful bidders will start. Shares in the winning bidders' Demat accounts will be transferred that same day.

The initial public offering (IPO) of Mangal Compusolution Limited is tentatively scheduled for November 20. Shares will be listed on the BSE SME platform.

Tuesday, November 12, marked the launch of Mangal Compusolution's initial public offering (IPO). Closing the SME issue is due on Thursday, November 14. The share allocation status should be finalised on Monday, November 18.

Company financials

For the first quarter of FY25, Mangal Compusolution reported a net profit of Rs 80.97 lakh on revenue of Rs 4.53 crore. Revenue for FY24 decreased by over 32 per cent to Rs 23.44 crore from FY23's revenue of Rs 34.83 crore.

The company's net profit for the fiscal year ending March 31, 2024, dropped by more than 45 per cent to Rs 3.85 crore from a net profit of Rs 7.04 crore in the previous fiscal year. The company's net worth increased by nearly 24 per cent from Rs 16.14 crore in the previous fiscal year to Rs 19.99 crore.