Mangalam Alloys IPO

Mangalam Alloys IPO will open for subscription from 21 September 2023. The company aims for an issue size of ₹54.91 Cr through this IPO.

Company Overview

Full nameMangalam Alloys Limited
SectorIron & Steel
IndustrySteel & Iron Products
Company Website

About Company

Incorporated in 1988, Mangalam Alloys has a unique integrated stainless steel, special steel & higher alloys steel melting, and further processing unit i.e. up to bright bar fasteners. The company is a stainless steel unit manufacturing SS Ingots, Round Bar, RCS, Bright bar, different sections/ profiles like square, hex, angle, patti, etc., Forging and making fasteners.

The company has having integrated stainless steel manufacturing unit covering 40,000 sq. meters of land with an installed capacity of 25,000 TPA (Melting Capacity) with a turnover of INR 302.92 crore in FY 2023. The company has two manufacturing units situated at, Chhatral, and detail regarding manufacturing facilities provided by each unit is as below:

  • Unit-1: It is 1st Phase of MAL and consists of a melting facility that has a capacity of 25000 MT per annum. It also consists of a Bright Bar (with all sections & angles, Patti) manufacturing facility which has a capacity of 18000 MT per annum. All other types of finishing works for the products are carried out at this unit. Fasteners are also produced at this Unit which has a capacity of 600MT per annum.
  • Unit -2: This unit consists 20-inch rolling mill, 12-inch rolling, and 17-inch rolling mill having an overall capacity of 78000 MT per annum. The R&D Centre is also situated in this Unit.

Mangalam Alloy’s profit after tax has grown from INR 6.10 crore in FY 2021-22 to INR 13.01 crore in FY 2022-23.

The Objectives of the Issue

  • Working capital requirements
  • Capital Expenditure for business expansion and research and Development;
  • General Corporate Purposes; and
  • To meet issue expenses.

IPO Timetable

IPO Opening date21 September 2023
IPO Closing25 September 2023
Basis of Allotment29 September 2023
Initiation Refund03 October 2023
Credit to Demat Account04 October 2023
Listing Date05 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 25, 2023)

IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹54.91 Cr – 6,864,000 shares
Fresh Issue₹49.01 Cr – 6,126,400 shares
Offer for sale₹5.90 Cr – 737,600 shares
Face value₹10 per share
Offer Price₹80 per share
Lot size1600 Shares
Market Maker portion344,000 shares
Shareholding pre-issue18,559,527
Shareholding post-issue24,685,927
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)11600₹128,000
Retail (Max)11600₹128,000
HNI (Min)23,200₹256,000

Reservation Details

Other Shares Offered50%
Retail Shares Offered50%

Financial Performance

 FY 2021FY 2022FY 2023
Net income(6.54)5.0610.14
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio14.65
RONW (%)(9.91)7.6013.70
ROCE (%)3.2713.1320.92
ROE (%)10.237.3212.82

Company Promoters

  • Mr. Uttamchand Chandanmal Mehta
  • Mr. Tushar Uttamchand Mehta

Promoter Holding

Share Holding Pre-Issue81.17%
Share Holding Post-Issue59.74%

Lead Manager(s)

1511, RG Trade Tower Netaji Subhash Place,
Pitampura, New Delhi – 110 034
Phone: +91 011 4509 8234

IPO Registrar

A/506, Dattani Plaza, Andheri Kurla Road,
Safeed Pool, Andheri East, Mumbai – 400 072, Maharashtra
Phone: +91 22 2851 1022

Contact Details

Plot No. 3123-3126, GIDC Phase III,
Chhatral Dist. Gandhinagar, Gujarat -382729
Phone: +91-2764 232064 / 232025

Allotment Status

Mangalam Alloys IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.

Final thoughts

Mangalam Alloys IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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