Mangalam Alloys IPO Day 2: Issue fully booked; check GMP, subscription status, other details in 10 points

The company manufactures SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Forgings, and Fasteners in more than 30 international grades.

Mangalam Alloys IPO is an SME IPO and a fixed price issue.

Let us check Mangalam Alloys IPO price band, latest GMP and other key details:

Mangalam Alloys IPO Dates: Mangalam Alloys IPO opened for subscription on September 21 and will close on September 25.

Mangalam Alloys IPO Allotment: The company will finalise the basis of IPO allotment on September 29 and initiate refunds on October 3, while credit the shares in the demat accounts of eligible allottees on October 4.

Mangalam Alloys IPO Listing Date: Mangalam Alloys shares are proposed to be listed on NSE SME with tentative listing date on October 5.

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Mangalam Alloys IPO Details: Mangalam Alloys IPO is a fixed price issue of ₹54.91 crore comprising a fresh issue of 61.26 lakh equity shares aggregating to ₹49.01 crore and offer for sale (OFS) of 7.38 lakh shares aggregating to ₹5.90 crore.

Mangalam Alloys IPO Price Band: Mangalam IPO is a fixed price issue and the IPO price has been fixed at ₹80 per share.

Mangalam Alloys IPO Lot Size: The lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹128,000.

Mangalam Alloys IPO Manager: The book running lead manager for the public issue is Expert Global Consultants Private Limited.

Mangalam Alloys IPO Register: Skyline Financial Services Private Ltd is the IPO registrar.

Mangalam Alloys IPO Subscription Status: Mangalam Alloys IPO has been subscribed 2.32 times on Friday, the second day of the bidding process. The public issue received bids for 1,52,33,600 equity shares as against 65.20 lakh shares on the offer.

The IPO has been subscribed 3.77 times in the retail category and 90% in the Non-Institutional Investors’ (NII) category, according to chittorgarh.com

Mangalam Alloys IPO GMP Today

Mangalam Alloys IPO GMP today, or grey market premium today, is ₹25 per share, as per market observers. This indicates that the Mangalam Alloys share price is trading higher by ₹25 than their issue price, in the grey market.

With the latest GMP today and the IPO price, Mangalam Alloys share listing is estimated to be at ₹105 apiece, which is at 31.25% premium to the issue price.

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Updated: 22 Sep 2023, 01:05 PM IST