Manglam Infra & Engineering IPO opens today: Check issue size, price band, GMP, other details

The SME IPO of Manglam Infra and Engineering has opened for subscription today and will close on July 26. The company aims to raise about Rs 28 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) Manglam Infra and Engineering IPO size

The IPO is entirely a fresh equity issue of 49.32 lakh shares and through the issue, the company plans to raise Rs 27.62 crore.


2) Manglam Infra and Engineering IPO price band

The company is offering its shares at Rs 53-56 apiece, and investors can bid for 2000 shares in 1 lot.

3) Manglam Infra and Engineering GMP

In the unlisted market, the company's shares are trading with a GMP of Rs 46, which translates to a premium of around 82% over the issue price

4) About Manglam Infra and Engineering

Manglam Infra is an infrastructure consultancy company, and its core business is providing project management consultancy services which includes detailed project reports (DPRs), supervision and quality control (SQC), and operation and maintenance (O&M) for highways, roads, bridges, tunnels, and urban development projects.

5) Industry overview

Infrastructure is a key enabler in helping India become a $26 trillion economy. Investments in building and upgrading physical infrastructure, especially in synergy with the ease of doing business initiatives, remain pivotal to increase efficiency and costs.

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6) Manglam Infra and Engineering financial performance

For the year ended March 2024, the company clocked total revenues of Rs 40.24 crore and net profit of Rs 6.76 crore.

7) Objects of the offer

The net proceeds from the public offer will be used for working capital requirements and general corporate purposes.

8) Lead managers and Registrar

Unistone Capital is acting as the lead manager to the issue and Bigshare Services is the registrar.

9) Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.

10) Important dates

The IPO opened on July 24 and will close on July 26. The final allotment will likely be made on July 29. The company's shares will likely get listed on July 31.