The equity share allocation for the IPO is as follows: up to 17,88,000 equity shares are available to non-institutional investors (NII), up to 17,90,000 equity shares are offered to retail individual investors, and up to 1,90,000 equity shares are available to market makers.
The company manufactures and supplies sheet metal components, auto parts, and various sprocket gears and machined components that are used in a variety of industries, including the tractor industry, autos, railroads, military, machine tools, and the do-it-yourself market. From their manufacturing unit, the firm produces these goods.
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Mandeep Auto Industries Limited’s chairman and managing director, Gurpal Singh Bedi, expressed his company’s happiness at entering a new and significant stage of their business path. They are dedicated to satisfying the varied and changing demands of their clientele and expanding their product line. They are at a pivotal point in their business history with this IPO, which will enable them to open a new manufacturing facility and increase their capacity to better serve the changing needs of the market and diversify their product offering.
The company’s listed peers are Kranti Industries Ltd (with a P/E of 38.39), Porwal Auto Components Ltd (with a P/E of (96.59), and Lumax Auto Technologies Ltd (with a P/E of 44.24).
The company’s revenue was ₹2,908.91 Lakhs, its EBITDA was ₹220.93 lakhs, and its PAT was ₹104.91 lakhs in FY23. The company’s revenue for 9MFY24 was ₹2,152.97 lakhs, its EBITDA was ₹395.44 lakhs, and its PAT was ₹236.54 lakhs.
Mandeep Auto Industries IPO details
Mandeep Auto Industries IPO, which is worth about ₹25.25 crore, consists of a fresh issue of 3,768,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The current issue’s goals include the following: purchasing machinery and equipment; expanding the current production facility in Faridabad, Haryana; and erecting a new building on the site next to the existing manufacturing unit. Paying back or ahead of schedule some of the company’s borrowings; meeting the needs for working capital; and General corporate purposes.
The Mandeep Auto Industries IPO’s book running lead manager is Jawa Capital Services Private Limited, while the issue’s registrar is Cameo Corporate Services Limited. Aftertrade Broking is the market maker for the IPO of Mandeep Auto Industries.
Tentatively, Mandeep Auto Industries IPO basis of allotment of shares will be finalised on Thursday, May 16 and the company will initiate refunds on Friday, May 17, while the shares will be credited to the demat account of allottees on Friday. Mandeep Auto Industries IPO shares are likely to be listed on NSE SME on Tuesday, May 21.
Mandeep Auto Industries IPO GMP today
Mandeep Auto Industries IPO GMP or grey market premium is +15. This indicates Mandeep Auto Industries share price were trading at a premium of ₹15 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mandeep Auto Industries share price was indicated at ₹82 apiece, which is 22.39% higher than the IPO price of ₹67.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 10 May 2024, 04:43 PM IST