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Mangal Compusolution's SME IPO, opening November 12, targets Rs 16.23 crore through a fresh issue of 36.06 lakh shares at Rs 45 each. The company focuses on IT hardware rentals and sales, primarily in Maharashtra.
Mumbai-based Mangal Compusolution, a leading provider of IT hardware rental and sales solutions, is set to launch its initial public offering (IPO) on November 12. Priced at Rs 45 per share, the IPO aims to raise Rs 16.23 crore through a fresh issue of 36.06 lakh shares, with no offer-for-sale component. This IPO is the third from the SME segment this month, following Neelam Linens and Garments and Rosmerta Digital Services. The subscription period for the IPO will close on November 14, and shares are scheduled to commence trading on the BSE SME platform on November 20.
Check Out Mangal Compusolution IPO Details
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IPO Details: Issue price of Rs 45 per share; raising Rs 16.23 crore.
IPO Dates: Opens on November 12, closes on November 14.
Trading Commencement: Expected on BSE SME from November 20.
Mangal Compusolution Share Price Outlook: Initial pricing at Rs 45 per share.
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Mangal Compusolution plans to allocate Rs 12.96 crore from the IPO proceeds for capital expenditure, primarily to expand its IT hardware capabilities. Additionally, Rs 1.94 crore will be earmarked for general corporate purposes, supporting overall business growth and operational requirements. Half of the issue is reserved for retail investors, with the remaining portion allocated for institutional and non-institutional investors. Jawa Capital Services serves as the sole book-running lead manager for the IPO, with Kfin Technologies acting as the registrar.
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Details | Information |
IPO Open Date | November 12 |
IPO Close Date | November 14 |
Issue Price | Rs 45 per share |
Shares Offered | 36.06 lakh |
Funds Raised | Rs 16.23 crore |
Primary Use of Proceeds | Capital Expenditure |
Trading Start Date | November 20 |
Lead Manager | Jawa Capital Services |
Registrar | Kfin Technologies |
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Mangal Compusolution specialises in renting and selling IT hardware, providing end-to-end equipment solutions. Its business is concentrated in Maharashtra, which contributes approximately 96.87% of its total revenue. Known for customised IT configurations tailored to client needs, the company’s regional focus and comprehensive service offerings have been its main revenue drivers.
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With an initial issue price set at Rs 45 per share, the Mangal Compusolution share price is expected to attract interest in the SME segment, reflecting the company’s strong foothold in the IT hardware rental market. This IPO marks a strategic move in the company’s growth, with proceeds aimed at enhancing its operational capabilities.
The Mangal Compusolution IPO presents a growth opportunity for the hardware rental provider as it prepares to list on the BSE SME platform. With its focus on IT hardware and customisation expertise, the company aims to use the raised funds to expand its services, potentially impacting the Mangal Compusolution IPO in the market.
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