Mandeep Auto Industries, a manufacturer of auto parts and components, has opened its initial public offering (IPO) for subscription. Here’s a breakdown of key details and its performance on the first day:
IPO Details:
- Issue Period: May 13 – May 15, 2024
- Price Band: ₹67 per share
- Issue Size: ₹25.25 crore (fresh issue)
- Lot Size: 2,000 shares
- Book Running Lead Manager: Jawa Capital Services Private Limited
- Registrar: Cameo Corporate Services Limited
- Market Maker: Aftertrade Broking
- Listing Exchange: NSE SME (tentative listing date: May 21, 2024)
Investment Categories:
- Non-Institutional Investors (NII): Up to 17,88,000 shares
- Retail Individual Investors: Up to 17,90,000 shares
- Market Makers: Up to 1,90,000 shares
Day 1 Performance (as of 4:18 PM IST):
- Overall Subscription: 64%
- Retail Portion: Subscribed 1.17 times
- NII Portion: Subscribed 10%
- Bids Received: 22,78,000 shares against 35,78,000 shares on offer
Company Profile:
Mandeep Auto Industries manufactures and supplies sheet metal components, auto parts, sprocket gears, and machined components for various sectors, including tractors, automobiles, railroads, and the do-it-yourself market.
IPO Objective:
The funds raised through the IPO will be used for:
- Acquiring machinery and equipment
- Expanding the existing production facility
- Constructing a new building
- Repaying debt
- Working capital requirements
Grey Market Premium (GMP):
The current GMP for Mandeep Auto Industries IPO is ₹25, indicating a potential listing price of ₹92 per share (37.31% premium over the issue price).
Disclaimer: Grey Market Premium (GMP) is unofficial and does not guarantee actual listing price.
Further Resources:
This article provides a comprehensive overview of the Mandeep Auto Industries IPO. Investors are advised to conduct their own research and due diligence before making any investment decisions.
