Mandeep Auto Industries IPO opens on 13 May next week: Everything you need to know about price bands and crucial dates.

The Mandeep Auto Industries IPO begins on May 13 and ends on May 15 at ₹67 per share. The equity share distribution includes 17,88,000 shares for NIIs, 17,90,000 for individual investors, and 1,90,000 for market makers.

 Mandeep Auto Industries IPO
The Mandeep Auto Industries IPO will be open for subscriptions on Monday, May 13, and will end on Wednesday, May 15.

The Mandeep Auto Industries IPO will be open for subscriptions on Monday, May 13, and will end on Wednesday, May 15. The issue’s price band is fixed at ₹67 per share. Mandeep Auto Industries’ IPO lot size is 2,000 shares.

The equity share allocation for the IPO is as follows: non-institutional investors (NII) can purchase up to 17,88,000 equity shares, retail individual investors can buy up to 17,90,000 equity shares, and market makers can buy up to 1,90,000 equity shares.

The company makes and provides sheet metal components, auto parts, sprocket gears, and machined components for use in a range of industries, including tractors, automobiles, railroads, the military, machine tools, and the do-it-yourself market.

Gurpal Singh Bedi, chairman and managing director of Mandeep Auto Industries Limited, expressed his company’s delight at embarking on a new and major chapter in its business journey. They are committed to meeting the diverse and changing needs of their customers while also extending their product offerings. They are at a watershed moment in their company’s history with this IPO, which will allow them to construct a new manufacturing facility, boost capacity, and better service the changing needs of the market by diversifying their product offering.

The company’s listed counterparts are Kranti Industries Ltd. (P/E of 38.39), Porwal Auto Components Ltd. (P/E of 96.59), and Lumax Auto Technologies Ltd. (P/E of 44.24).

In FY23, the company had sales of ₹2,908.91 lakhs, EBITDA of ₹220.93 lakhs, and PAT of ₹104.91 lakhs. In 9MFY24, the company reported revenue of ₹2,152.97 lakhs, EBITDA of ₹395.44 lakhs, and PAT of ₹236.54 lakhs.

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Mandeep Auto Industries IPO details

The Mandeep Auto Industries IPO, worth about ₹25.25 crore, includes a fresh issue of 3,768,000 equity shares with a face value of ₹10. There is no “offer for sale” component.

The current issue’s goals include purchasing machinery and equipment, expanding the current production facility in Faridabad, Haryana, and constructing a new building adjacent to the existing manufacturing unit. Paying back or ahead of schedule some of the company’s borrowings; fulfilling working capital requirements; and general business reasons.

Jawa Capital Services Private Limited serves as the bookrunner and lead manager for the Mandeep Auto Industries IPO, while Cameo Corporate Services Limited acts as the issue’s registrar. Aftertrade Broking is the market maker for Mandeep Auto Industries’ initial public offering.

Tentatively, the Mandeep Auto Industries IPO basis of allotment of shares will be concluded on Thursday, May 16, and the business will commence refunds on Friday, May 17, with the shares being credited to allottees’ demat accounts on Friday. Mandeep Auto Industries IPO shares are expected to be launched on NSE SME on Tuesday, May 21.

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Mandeep Auto Industries IPO GMP today

Mandeep Auto Industries’ IPO GMP, or grey market premium, is +15. Investorgain.com reports that Mandeep Auto Industries’ share price was selling at a ₹15 premium in the grey market.

Mandeep Auto Industries’ share price is predicted to be ₹82 per share, 22.39% more than the IPO price of ₹67, taking into account the upper end of the IPO pricing band and the current grey market premium.

The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.

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Hi, My self Saurabh Singh

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