Mangal Compusolution IPO subscribed 2.65 times on Day 1; check GMP, other details | Stock Market News
Source: Live Mint
Mangal Compusolution Limited’s initial public offering (IPO), through a book-building process, offers a fresh issue of 36 lakh equity shares aggregating to ₹16.23 crore, which opened for public bidding on Tuesday, November 12. The public offer was oversubscribed 2.65 times on Day 1 as investors bid for 90.78 lakh shares, compared to the 34.2 lakh shares offered, according to the data collected from Chittorgarh.
Among the subscription segments, retail investors subscribed to the public issue the most, at 4.34 times over their offered portion on Day 1. The Non-Institutional Investors (NIIs) segment was booked 97 per cent of the total shares offered, as per the Chittorgarh data.
IT hardware solutions company IPO opened for public subscription on Tuesday, November 12, and will close on Thursday, November 14. Mangal Compusolution IPO’s price band has been fixed at a range of ₹45 per share with a face value of ₹10 each. Bids can be made for a minimum of 3,000 equity shares and in multiples of 3,000 equity shares thereafter.
Mangal Compusolution IPO GMP today
As of November 11, Mangal Compusolution IPO’s grey market premium (GMP) is ₹10 per share. Grey market premium (GMP) is the investor’s willingness to pay more on top of the issue price.
The price band of the public issue is fixed at ₹45, and the public issue is expected to be listed at ₹55 per share, i.e. at a premium of 22.22 per cent, as per Investorgain.com data.
Mangal Compusolution IPO Details
Mangal Compusolution specializes in providing a wide range of IT hardware solutions tailored to the continuously changing technology demands of businesses in diverse sectors.
The company primarily focuses on IT hardware rentals but engages in selling and offering a full suite of IT equipment as well. Mangal Compusolutions aims to use the money raised from the IPO for various purposes, including capital expenditures and general corporate needs.
Jawa Capital Services Private Limited is the book runner for the public issue, while Kfin Technologies Limited is the registrar. The market maker for the Mangal Compusolution IPO is Rikhav Securities.
