Manglam Infra and Engineering IPO booked 15 times on first day driven by high retail demand

The Manglam Infra and Engineering Limited IPO saw strong demand on Wednesday, July 24, the first day of bidding. The NSE SME IPO was booked over 15 times, led by high retail demand.

The infrastructure consultancy firm's initial public offering (IPO) received bids for more than 4.73 crore shares compared to the 30.86 lakh shares on offer, leading to an overall subscription of 15.35 times.

Retail individual investors applied for over 3.96 crore shares against 15.44 lakh shares set aside for the category. The retail portion was booked 26 times.

The NSE SME issue was subscribed 10.56 times in the Non-Institutional Investors’ (NIIs) category with applications for 69.72 lakh shares against 6.6 lakh shares set aside for the segment.

On the opening day of subscription, the Qualified Institutional Buyers (QIB) placed bids for 8.06 lakh shares against 8.82 lakh shares reserved for the segment. The QIBs portion was booked 91%.

Manglam Infra and Engineering IPO offer size, price band, and minimum investment

Manglam Infra and Engineering Limited IPO is a book-building issue worth ₹27.62 crore. The public offer comprises entirely a fresh issue of 49.32 lakh shares, including an anchor allocation of 13.22 lakh shares.

Manglam Infra and Engineering IPO price band has been fixed at ₹53 to ₹56 per share. Retail investors can bid for a minimum lot size of 2,000 shares, which aggregates to an investment of ₹1,12,000. High-net-worth individuals (HNIs) can apply for a minimum of 2 lots consisting of 4,000 shares, aggregating to an investment of ₹2,24,000.

Manglam Infra and Engineering IPO dates

Manglam Infra and Engineering IPO subscription window is open from July 24 to July 26. The IPO allotment status is likely to be finalised on Monday, July 29.

Refunds will be initiated for unsuccessful bidders on July 30, and shares will be credited to the Demat accounts of successful bidders on the same day.

Shares of Manglam Infra and Engineering IPO are likely to be listed on the NSE SME platform Emerge on July 31.

Manglam Infra and Engineering Limited IPO registrar

The registrar for Manglam Infra and Engineering IPO is Bigshare Services Private Ltd. The book-running lead manager for the issue is Unistone Capital Private Ltd. The market maker for Manglam Infra and Engineering IPO is Giriraj Stock Broking.

Manglam Infra and Engineering Limited IPO objective

Manglam Infra and Engineering Limited plans to use the money raised via the public issue to meet working capital requirements and general corporate purposes.

About Manglam Infra and Engineering Limited

Manglam Infra and Engineering Limited was incorporated in 2010. The company provides infrastructure project management services, including detailed project reports, quality supervision, operation, maintenance and design; engineering, procurement and construction (EPC); and integrated project management.