IPO Details

Bidding Dates

24 Jul '24 - 26 Jul '24

Minimum Investment

₹1,12,000 / 1 Lot ( 2000 Shares)

Price Range

₹53 - ₹56

Maximum Investment

₹1,12,000 / 1 Lot ( 2000 Shares)

Retail Discount

To be announced

Issue Size

₹27.62 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Jul 24, 2024

IPO Close Date

Jul 26, 2024

Basis of Allotment

Jul 29, 2024

Initiation of Refunds

Jul 30, 2024

Credit of Shares to Demat

Jul 30, 2024

Listing Date

Jul 31, 2024

Cut-off time for UPI mandate confirmation

Jul 26, 2024

About Manglam Infra and Engineering Limited

Manglam Infra and Engineering Limited is an infrastructure consultancy company initially formed as a partnership named "Manglam Associates" on February 17, 2010. The partnership firm transitioned into a public limited company on July 20, 2023. The company focuses on providing project management consultancy services, including detailed project reports (DPRs), supervision and quality control (SQC), and operation and maintenance (O&M) for various infrastructure projects such as highways, roads, bridges, tunnels, and buildings.

Manglam Infra and Engineering Limited serves several state governments across India, including Madhya Pradesh, Jammu & Kashmir, Bihar, and Maharashtra. The company has completed 127 projects, 116 of which were done independently and 11 through joint ventures. Currently, 45 projects are ongoing, split between independent and joint ventures.

The company boasts a team of over 300 qualified professionals with extensive experience. Additionally, third-party service providers are occasionally engaged for specific contracts. The order book, as of May 31, 2024, stood at ₹7,890.87 lakh. The company has shown a positive growth trend, with total revenue increasing from ₹2,678.36 lakh in Fiscal 2022 to ₹4,050.79 lakh in Fiscal 2024. Net profit also grew significantly over the same period.

Promoters Ajay Verma and Yogendra Kumar Singh bring over 33 years of combined experience in infrastructure consultancy engineering services, playing a crucial role in the company's strategic direction and growth. With a strong presence in over 10 Indian states, Manglam Infra and Engineering Limited is well-positioned to continue expanding its geographical footprint and exploring new growth opportunities in the infrastructure sector.

Industry Outlook:

  1. India's infrastructure sector is crucial for its ambition to become a $26 trillion economy. Significant investments, including the $1.3 trillion Gati Shakti plan, are enhancing efficiency and supporting economic growth.
  2. The Indian government has earmarked substantial funds for infrastructure, with total capital expenditure at approximately $133 billion for 2024-25, driving development across sectors.
  3. In 2023, India attracted nearly $50 billion in private equity and venture capital investments, reflecting strong confidence in its infrastructure sector.

Manglam Infra and Engineering Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. To meet working capital needs, with ₹1,935.00 lakh.
  2. Allocating remaining proceeds for general corporate purposes.

Peer Details

According to RHP Rudrabhishek Enterprises Limited is the only listed peer of Manglam Infra & Engineering Limited.

How to Check the Allotment Status of the Manglam Infra and Engineering Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
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Contact Details of Manglam Infra and Engineering Limited IPO

  • Registered office: H.NO.46, Nikhil Nestles Jatkhedi Hoshangabad Road, University (Bhopal) Huzur, Bhopal - 462026, Madhya Pradesh, India
  • Phone: +0755 4289475
  • E-mail: cs@manglaminfra.com

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue From Operations (in ₹ lakh) 4,024.36 3,441.88 2,581.16
Profit After Tax (PAT) (in ₹ lakh) 676.41 554.16 332.96
Cash & Cash Equivalents (in ₹ lakh) 49.26 2.27 11.83
Net Worth (in ₹ lakh) 1,710.20 1,025.95 778.69
Return on Equity (%) 49.44 61.42 53.46
Return on Capital Employed (RoCE) (%) 44.95 67.04 54.04
Debt To Equity Ratio 0.26 0.22 0.24
EBITDA (₹ in lakhs) 1,037.79 869.94 469.48

Know before investing

Strengths

6

  1. Diversified project portfolio includes road, bridge, tunnel, building, and urban development projects.

  2. Comprehensive services include design, engineering, procurement, and project management services.

  3. Manglam Infra boasts an experienced workforce of over 272 employees, including 159 engineers with extensive expertise.

  4. Manglam Infra's revenue grew from ₹2,581.16 lakh in FY 2022 to ₹4,024.36 lakh in FY 2024, showcasing consistent growth.

  5. The company is transitioning to integrate project execution with its consultancy services.

  6. Manglam Infra aims to attract and retain skilled professionals with enhanced training and development programs.

Risks

5

  1. Manglam Infra relies heavily on government contracts; losing tenders could impact revenue.

  2. Revenue depends on unpredictable project awards, which can fluctuate.

  3. Delays in securing contracts could lead to extra costs for maintaining or adjusting the workforce.

  4. Clients may cancel, suspend, or adjust contracts, impacting financial stability.

  5. High revenue concentration in certain regions makes Manglam Infra vulnerable to regional disruptions.

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Manglam Infra and Engineering IPO FAQs

What is Manglam Infra and Engineering Limited's IPO?

Manglam Infra and Engineering Limited IPO is a book-built IPO. The IPO will be open from July 24, 2024, to July 26, 2024.

When will Manglam Infra and Engineering Limited's IPO be allotted?

The Basis of Allotment will happen on Monday, July 29, 2024.

When will Manglam Infra and Engineering Limited's IPO open for subscription?

The IPO subscription window will open on July 24, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.

When will Manglam Infra and Engineering Limited list on exchanges?

The listing date for Manglam Infra and Engineering Limited is Wednesday, July 31, 2024.

What would be the listing gains on the Manglam Infra and Engineering Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Manglam Infra and Engineering Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Manglam Infra and Engineering Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Manglam Infra and Engineering Limited using one PAN?

You can submit only one application using your PAN card.