November 21, 2024
New Delhi, India
Mangal Compusolution IPO
Mangal Compusolution Limited made its BSE SME debut today, listing at ₹45 per share, the same as its issue price. Shortly after, the stock hit a 5% lower circuit, trading at ₹42.75 as of 10:13 AM IST.
IPO Highlights
- Subscription Overview:
- Opened: November 12
- Closed: November 14
- Subscription Status: Oversubscribed 34.59 times
- IPO Structure:
- Fresh Issue: 3,606,000 shares worth ₹16.23 crore
- No Offer for Sale (OFS)
- Purpose of Fundraising:
- Capital expenditures
- General corporate needs
Business Focus
- Mangal Compusolution specializes in IT hardware rentals, offering end-to-end solutions for various industries.
- Maharashtra Market: Contributed 96.87% of revenue for the quarter ending June 30, 2024.
Key Stakeholders
- Lead Manager: Jawa Capital Services Private Limited
- Registrar: Kfin Technologies Limited
- Market Maker: Rikhav Securities
Market Reaction
Despite robust subscription numbers, Mangal Compusolution’s silent debut reflects cautious investor sentiment. Analysts suggest monitoring the company’s revenue growth and expansion strategies beyond Maharashtra for long-term prospects.
Latest Q2 Results
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