Mangalam Alloys IPO is a fixed price issue of Rs 54.91 crores. The issue is a combination of fresh issue of 61.26 lakh shares aggregating to Rs 49.01 crores and offer for sale of 7.38 lakh shares aggregating to Rs 5.90 crores.
Mangalam Alloys IPO bidding opened for subscription on September 21, 2023 and will close on September 25, 2023. The allotment for the Mangalam Alloys IPO is expected to be finalized on Friday, September 29, 2023. Mangalam Alloys IPO will list on NSE SME with tentative listing date fixed as Thursday, October 5, 2023.
Mangalam Alloys IPO price is ₹80 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹256,000.
Expert Global Consultants Private Limited is the book running lead manager of the Mangalam Alloys IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Mangalam Alloys IPO is Rikhav Securities.
Refer to Mangalam Alloys IPO RHP for detailed information.
Mangalam Alloys IPO Details
| IPO Date | September 21, 2023 to September 25, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹80 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,864,000 shares (aggregating up to ₹54.91 Cr) |
| Fresh Issue | 6,126,400 shares (aggregating up to ₹49.01 Cr) |
| Offer for Sale | 737,600 shares of ₹10 (aggregating up to ₹5.90 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,559,527 |
| Share holding post issue | 24,685,927 |
| Market Maker portion | 344,000 shares Rikhav Securities |
Mangalam Alloys IPO Reservation
Mangalam Alloys IPO a total of 6,864,000 shares are offered. RII: 3,260,800 (47.51%), NII: 3,259,200 (47.48%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 344,000 (5.01%) |
| Other Shares Offered | 3,259,200 (47.48%) |
| Retail Shares Offered | 3,260,800 (47.51%) |
| Total Shares Offered | 6,864,000 (100%) |
Mangalam Alloys IPO Timeline (Tentative Schedule)
Mangalam Alloys IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Monday, September 25, 2023 |
| Basis of Allotment | Friday, September 29, 2023 |
| Initiation of Refunds | Tuesday, October 3, 2023 |
| Credit of Shares to Demat | Wednesday, October 4, 2023 |
| Listing Date | Thursday, October 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Mangalam Alloys IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹128,000 |
| Retail (Max) | 1 | 1600 | ₹128,000 |
| HNI (Min) | 2 | 3,200 | ₹256,000 |
| Lot Size Calculator |
Mangalam Alloys IPO Promoter Holding
Mr. Uttamchand Chandanmal Mehta and Mr. Tushar Uttamchand Mehta are the company’s promoters.
| Share Holding Pre Issue | 81.17% |
| Share Holding Post Issue | 59.74% |
About Mangalam Alloys Limited
Incorporated in 1988, Mangalam Alloys Limited is a manufacturer of stainless-steel-based products.
The company manufactures SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Angle, Patti, Forgings, and Fasteners in more than 30 international grades and in the size range from 3 mm to 400 mm.
Mangalam Alloys manufactures stainless steel ingots through three furnaces by melting stainless steel scrap, rolling ingots to stainless steel rounds & flats followed by a heat treatment annealing furnace and bright bar unit. Its manufacturing unit spread across 40,000 sq. meters of land, has an installed capacity of 25,000 TPA (Melting Capacity).
The company recorded Rs. 30,292.25 Lacs, Rs. 30,936.90 Lacs, and Rs. 27,125.88 Lacs in revenue from operation in fiscal 2023, 2022, and 2021 respectively.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 31,210.81 | 30,066.96 | 33,201.81 |
| Revenue | 27,190.68 | 30,973.94 | 30,817.92 |
| Profit After Tax | -653.69 | 505.08 | 1,013.52 |
| Net Worth | 6,390.37 | 6,895.35 | 7,903.11 |
| Reserves and Surplus | 4,534.42 | 5,039.40 | 6,047.16 |
| Total Borrowing | 16,769.66 | 16,361.81 | 15,353.27 |
Amount in ₹ Lakhs
Key Performance Indicator
Mangalam Alloys IPO Market Cap is Rs 197.49 Cr and P/E (x) is 14.65.
| KPI | Values |
|---|---|
| P/E (x) | 14.65 |
| Post P/E (x) | 19.46 |
| Market Cap (₹ Cr.) | 197.49 |
| ROE | 12.82 |
| ROCE | 20.92 |
| Debt/Equity | 1.94 |
| EPS (Rs) | 5.46 |
| RoNW | 13.70% |
Check Mangalam Alloys IPO Peer Comparison here.
Objects of the Issue (Mangalam Alloys IPO Objectives)
The company intends to utilize the proceeds of the Issue to meet the following objects:
- Working capital requirements
- Capital Expenditure for business expansion and research and Development;
- General Corporate Purposes; and
- To meet issue expenses.
Mangalam Alloys IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted static top lines for FY22 and FY23, but its bottom line surged in FY23 raising eyebrows. The sustainability of such margins going forward is a major concern. Well-informed/risk-seeker investors may park funds for the medium to long term. Read detail review…
Mangalam Alloys IPO Subscription Status (Bidding Detail)
The Mangalam Alloys IPO is subscribed 2.34 times on Sep 22, 2023 7:29:00 PM. The public issue subscribed 3.77 times in the retail category, times in the QIB category, and 0.90 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 0.90 |
| Retail | 3.77 |
| Total | 2.34 |
Total Application : 7,689 (3.77 times)
Mangalam Alloys IPO Prospectus
Mangalam Alloys IPO Contact Details
Mangalam Alloys Limited
Plot No. 3123-3126,
GIDC Phase III,
Chhatral Dist. Gandhinagar – 382729
Phone: +91-2764 232064
Email: cs@mangalamalloys.com
Website: https://www.mangalamalloys.com/
Mangalam Alloys IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php