Mandeep Auto Industries IPO allotment status likely to be finalised on May 16, check details

Mandeep Auto Industries Ltd is expected to announce the allotment of shares on Thursday, May 16, following the successful subscription of its ₹25.25-crore public offer. The SME IPO opened for subscription on May 13 on the NSE SME platform and closed for bidding on May 15. The issue was subscribed more than 75 times.

Investors can easily check the Mandeep Auto Industries IPO share allotment status on the website of IPO registrar, e Cameo Corporate Services Limited, as well as on NSE portal.

Follow these steps to check the share allotment status.

Steps to check Mandeep Auto Industries IPO share allotment status on registrar website:

• Open the IPO allotment status page on the Cameo Corporate Services Limited website- https://ipo.cameoindia.com/
• Select Mandeep Auto Industries from the Dropdown Menu for company names.
• Enter PAN or Application Number
• Enter Captcha
• Click Submit to check the status

It’s important to note that the name of the company will appear after Mandeep Auto Industries finalises the status of IPO share allotment.

Steps to check share allotment status on NSE website

• Open the NSE page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password
• Select Mandeep Auto Industries Ltd
• Verify PAN Number
• Enter IPO application No
• Click on Submit

Mandeep Auto Industries Ltd IPO details

Mandeep Auto Industries Ltd IPO was a fixed price public offer comprising a fresh issue of 37.68 lakh shares. The IPO price was fixed at ₹67 per share while the minimum lot size for retail investors was 2,000 shares. The minimum investment required was ₹1,34,000 for retail investors.

The company had set aside 1,90,000 equity shares for market makers. As many as 17,90,000 equity shares were marked for retail investors while 17,88,000 were set aside for non-retail investors.

Mandeep Auto Industries IPO was booked more than 75 times at the close of bidding on Wednesday.

The initial public offering of automotive and industrial components manufacturer garnered applications for 26.94 crore shares against 35.78 lakh shares on offer.

Retail investors’ portion was booked more than 89 times while the Non-retail investors subscribed the portion reserved for them by 61 times.

Mandeep Auto Industries listing date

Mandeep Auto Industries has set the tentative date for listing its shares on NSE SME platform Emerge on Tuesday, May 21.

Mandeep Auto Industries objects

Mandeep Auto Industries manufactures sheet metal components, auto parts, and sprocket gears and machined components which are used in tractors, automobiles, material handling and earth moving equipment, machine tools, railways and others.

The company has proposed to use the IPO proceeds for funding the expansion of its existing facility in Faridabad, purchase of equipment, meeting working capital requirements and payment of existing debt liabilities.

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