Manglam Infra and Engineering IPO Day 2: Issue subscribed over 32 times; check timeline

Manglam Infra and Engineering IPO has received a robust response from investors. On Thursday, July 25, the second day of bidding, the initial public offering was subscribed 32.9 times so far.

The retail individual investors (RIIs) category was subscribed 54.09 times, and the non-institutional investors (NIIs) portion received 25.74 times the subscription.

The qualified institutional investors (QIBs) part was subscribed 1.32 times.

Manglam Infra and Engineering IPO, with a price band set at ₹53-₹56 per equity share, is open for subscription from July 24 to July 26.

The SME IPO's lot size is 2,000 shares and the minimum investment required is ₹1.06 lakh.

The public offer is solely a fresh issue of 49.32 lakh shares to raise ₹27.62 crore. The IPO proceeds will be utilised for working capital requirements and general corporate purposes.

Manglam Infra and Engineering: Key dates

• Bidding dates: July 24 to July 24
• Allotment finalisation: July 29
• Initiation of refund: July 30
• Demat transfer: July 30
• Listing of shares: July 31

About Manglam Infra and Engineering

The infrastructure consultancy firm specialises in project management services, with its portfolio spanning roads, tunnels, highways, and building. It has completed more than 120 projects.

The company undertakes takes up projects floated by state governments and union territories, including those of Madhya Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Bihar, Uttar Pradesh, Arunachal Pradesh, Jharkhand, Nagaland, Maharashtra, Manipur, Uttarakhand, Haryana, Rajasthan and Assam, as well as the central government.