The Mangal Compusolution IPO has attracted significant investor attention, closing with a massive 35 times oversubscription. Retail investors showed strong demand, causing their reserved portion to be oversubscribed by 47 times. The IPO, which opened on November 14, 2024, on the BSE SME platform, was met with bids for over 11.85 crore shares against an offer of 34.2 lakh shares. Investors are now eagerly awaiting the share allotment, which is scheduled for Monday, November 18, 2024.
Important IPO Dates
- IPO Opening Date: November 14, 2024
- IPO Closing Date: November 16, 2024
- Allotment Date: November 18, 2024
- Refund Initiation (for unsuccessful bidders): November 18, 2024
- Shares Credit to Demat Accounts: November 19, 2024
- Listing Date: November 21, 2024 (Note: The stock market will be closed on November 20 due to the Maharashtra Assembly elections.)
Subscription Details
- Total Bids Received: 11.85 crore shares
- Total Offer Size: 34.2 lakh shares
- Retail Segment Oversubscription: 47 times
- Non-Institutional Investors Oversubscription: 22.39 times
Retail investors had to apply for at least 3,000 shares, totaling ₹1,35,000, and the overwhelming demand resulted in a highly oversubscribed offering.
How to Check Allotment Status
Investors can check their allotment status through the following platforms:
1. BSE Website
- Visit the BSE Allotment Status page.
- Select “Equity” under “Issue Type”.
- Choose “Mangal Compusolution Limited” from the dropdown list.
- Enter your Application Number or PAN.
- Click “I am not a Robot” and then “Search” to check your status.
2. KFin Technologies Website
- Visit KFin Technologies’ IPO Portal.
- Select “Mangal Compusolution Limited” from the dropdown.
- Enter your Application Number or PAN.
- Click “Submit” to view the status of your allotment.
About Mangal Compusolution
Established in 2011, Mangal Compusolution Limited provides IT equipment solutions and hardware rentals, including laptops, desktops, servers, and other devices. As of September 30, 2024, the company employs 24 people. The funds raised through this IPO will be utilized for business expansion.
IPO Financials
- IPO Size: ₹16.23 crore
- Price per Share: ₹45
- Lot Size: 3,000 shares
- Purpose of Funds: To expand business operations and infrastructure.
Investor Sentiment
The IPO’s robust subscription numbers, especially the oversubscription in the retail segment, signal strong investor confidence. The company’s listing on the BSE SME platform on November 21 will be closely watched, with expectations of a favorable market debut, especially considering the substantial demand seen during the IPO.
Investors who are successful in the allotment will see shares credited to their Demat accounts by November 19, 2024, while those who did not receive shares will be refunded accordingly.
Disclaimer: This information is provided for general informational purposes only and should not be construed as financial advice. Investors are advised to conduct their own research and consult with a professional financial advisor before making any investment decisions. The author or platform does not guarantee the accuracy or completeness of the information provided.
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