The Mangal Compusolution IPO opened to high demand; on Tuesday, November 12, the first day of bidding, the issue has been subscribed for 1.93 times.
Retail individual investors showed the greatest demand for the BSE SME issue, subscribing 3.09 times the allocated quota. 77 per cent of the non-institutional investor (NII) category was subscribed.
Mangal Compusolution Limited's Rs 16.23-crore initial public offering (IPO) is available for subscription between November 12 and November 14.
Minimum bid and price band
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36.06 lakh shares are being offered at a fixed price in the Mangal Compusolution IPO. A fixed price of Rs 45 per share has been set for the issue.
The minimum bid amount for retail investors who wish to apply for the Mangal Compusolution IPO is 3,000 shares, which adds up to a Rs 1,35,000 investment. HNIs, on the other hand, are eligible to apply for at least two lots, comprising of 6,000 shares, which adds up to a Rs 2,70,000 investment.
IPO subscription and listing timeline
The Mangal Compusolution initial public offering (IPO) went live on Tuesday, November 12. Thursday, November 14 is the deadline for closing the SME issue. On Monday, November 18, the status of the share allocation is expected to be finalised.
On Tuesday, November 19, refunds for unsuccessful bidders will begin with the finalisation of the public issue's share allocation status. On the same day, winning bidders will get shares in their Demat accounts.
November 20 is the tentative listing date for the initial public offering (IPO) of Mangal Compusolution Limited. It will list its shares on the BSE SME platform.
Company financials
Mangal Compusolution reported a profit-after-tax of Rs 80.97 lakh for the first quarter of FY25, with revenue of Rs 4.53 crore. At the conclusion of the June quarter of FY25, the company's net worth was Rs 20.8 crore.
Compared to FY23's revenue of Rs 34.83 crore, FY24's revenue dropped by more than 32 per cent to Rs 23.44 crore.
Compared to a net profit of Rs 7.04 crore in the previous fiscal year, the company's net profit for the fiscal year ending March 31, 2024, decreased by more than 45 per cent to Rs 3.85. From Rs 16.14 crore in the previous fiscal year to Rs 19.99 crore, the company's net worth grew by almost 24 per cent.
