Mangal Compusolution IPO Sees 15.92x Subscription on Day 3 as of 12:55 PM

Mangal Compusolution IPO, one of the upcoming IPOs in India, opened for subscription on November 12, 2024, and will close today on November 14, 2024. 

The IPO allotment date is set for November 18, with the listing expected on the BSE SME platform on November 20, 2024.

The IPO, valued at ₹16.23 crore, is entirely a fresh issue of 36.06 lakh shares. The price of the IPO is set at ₹45 per share, with a minimum application lot size of 3,000 shares. Retail investors will need to invest a minimum of ₹1,35,000.

As of 9:28 AM on November 14, 2024, Mangal Compusolution IPO GMP today stands at ₹7.

The company plans to utilise the net proceeds for capital expenditure and for general corporate purposes. 

Mangal Compusolution IPO Subscription Status

• On Day 1, November 12, 2024, Mangal Compusolution IPO was subscribed 2.65 times. The retail category was subscribed 4.34x and the NII category was 0.97x.
• On Day 2, November 13, 2024, Mangal Compusolution IPO was subscribed 7.87 times. The retail category was subscribed 13.25x and the NII category was subscribed 2.49x.
• On Day 3, November 14, 2024, as of 12:55 PM, Mangal Compusolution IPO was subscribed 15.92 times. The retail category was subscribed 25.88x and the NII category was subscribed 5.97x.

About Mangal Compusolution Ltd

Mangal Compusolution is engaged in providing comprehensive IT hardware solutions designed to meet the evolving technological needs of businesses across various industries. With a primary focus on IT hardware rentals, it aims to deliver top-tier equipment and services that help organisations succeed in the digital age. The company is actively involved in renting and selling IT hardware, offering end-to-end IT equipment solutions.

While it serves clients across India, the Maharashtra region contributes significantly to its revenue, accounting for 96.87% of the total revenue for the quarter ending June 30, 2024. Its services include renting a wide range of IT equipment, such as servers, laptops, desktops, projectors, routers, switches, workstations, plasma/LCD TVs, PA systems, and various accessories. The company also specialises in creating customised IT configurations tailored to client’s specific requirements, which are available for both rental and purchase.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.