Mangal Compusolution IPO Day: Issue subscribed 1.93 times so far as retail investors lead; check key dates

Mangal Compusolution IPO opened to strong demand, with the issue being subscribed 1.93 times so far on Tuesday, November 12, the first day of bidding.

The BSE SME issue saw the highest demand from retail individual investors, who subscribed 3.09 times the quota allotted. The non-institutional investors’ (NIIs) category was subscribed 77%.

The ₹16.23-crore IPO of Mangal Compusolution Limited is open for subscription from November 12 to November 14.

Mangal Compusolution IPO offer size, minimum investment and price

Retail investors interested in applying for Mangal Compusolution IPO can place bids for a minimum of 3,000 shares, which aggregates to an investment of ₹1,35,000. On the other hand, high networth individuals (HNIs) can apply for a minimum of 2 lots, or 6,000 shares, aggregating to an investment of ₹2,70,000.

Mangal Compusolution IPO dates

Mangal Compusolution IPO opened for subscription on Tuesday, November 12. The SME issue is scheduled to close on Thursday, November 14. The share allotment status will likely to be finalised on Monday, November 18.

After the finalisation of the share allotment status of the public issue, refunds will be initiated for unsuccessful bidders on Tuesday, November 19. Successful bidders will receive shares in their Demat accounts on the same day.

The tentative listing date for Mangal Compusolution Limited IPO has been fixed as November 20. The company's shares will list on the BSE SME platform.

Mangal Compusolution IPO registrar and promoters

The book running lead manager for the SME issue is Jawa Capital Services Private Limited and the registrar for the issue is Kfin Technologies Limited. The market maker for the BSE SME issue is Rikhav Securities.

The promoters of the company include Hardik Meghraj Jain, Neeta Mukesh Desai, Pathik Mukesh Desai, Mukesh Khandubhai Desai and Binny Pathik. Before the public issue the promoters of the company jointly held 100% stake in the company. After the public issue the shareholding of the promoters will reduce to 73.5%.

Mangal Compusolution key financials

Mangal Compusolution’s revenue for Q1 FY25 stood at ₹4.53 crore and the company posted a profit-after-tax of ₹80.97 lakh. The company’s net worth stood at ₹20.8 crore at the end of the June quarter of FY25.

Revenue for FY24 decreased by over 32% to ₹23.44 crore compared to ₹34.83 crore in FY23. The company’s net profit for the fiscal ended March 31, 2024, declined over 45% to ₹3.85 crore compared to a net profit of ₹7.04 crore in the preceding fiscal. The networth of the company increased nearly 24% to ₹19.99 crore from ₹16.14 crore in the preceding fiscal.

Mangal Compusolution IPO objective

The company plans to use the money raised via the public issue for its capital expenditure requirements and for other general corporate purposes.

About Mangal Compusolution Limited

Mangal Compusolution Limited was incorporated in April 2011. The company provides hardware rental solutions to various businesses and offers rental services for IT hardware such as laptops, desktops, projectors, router switches, workstations, Plasma/LCD TVs, PA Systems, and other accessories.