Mangalam Global Enterprise Rights Issue will open for subscription from 03 June 2024. the company aims for an issue size of ₹41.20 Crores through this rights Issue.
About the company
Incorporated in 2010, Mangalam Global Enterprise Limited manufactures and trades edible and non-edible oils, including soya oil, mustard oil, and refined vegetable oil. They also trade agricultural products such as wheat and rice domestically and for export. The company distributes its products in key states including Gujarat, Rajasthan, Delhi, Maharashtra, and West Bengal. Also, the company exports its products to countries such as China, Thailand, France, Belgium, Oman, the Netherlands, Mexico, and Turkey. The company falls under the category of a 2 Star Export House.
Mangalam Global Enterprise has a separate business unit in Singapore through a Wholly Owned Subsidiary – Mangalam Global (Singapore) Pte. Ltd. It is engaged in wholesale trading of goods like rice, scrap iron and steel, and refined castor oil. The company has three manufacturing units one in Sanand- Gujarat and the other two situated in Kheda- Gujarat.
As of December 31, 2023, the company has 58 employees at the Manufacturing Facility and Registered Office. They oversee manufacturing operations, including production, quality control, technical services, stores, administration, marketing, accounting, secretarial, and other functions.
Objectives of the Issue
- To Meet Working Capital Requirements
- General corporate purposes
- To meet Public Issue Expenses
Mangalam Global Enterprise Rights Issue Timetable
| Last Date to buy shares | 23 May 2024 |
| Record Date | 24 May 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 03 June 2024 |
| Renunciation of Rights Entitlements | 07 June 2024 |
| Bid/Offer Closes On | 12 June 2024 |
| Deemed Date of Allotment | 14 June 2024 |
| Credit Date | 17 June 2024 |
| Listing Date | 19 June 2024 |
Mangalam Global Enterprise Rights Issue Details
| Issue Open | June 3, 2024 – June 12, 2024 |
| Security Name | Mangalam Global Enterprise Limited |
| Issue Size (Shares) | 20,600,000 |
| Issue Size (Amount) | ₹41.20 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹2 per share |
| Listing At | NSE |
| Terms of Payment | The entire amount of the Issue Price of ₹20 per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 7 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 439.17 | 270.89 | 221.91 |
| Revenue | 1,430.44 | 1,283.22 | 964.69 |
| Profit After Tax | 12.70 | 3.61 | 4.74 |
| Reserves and Surplus | 86.71 | 53.64 | 44.51 |
| Total Borrowing | 238.31 | 119.94 | 121.30 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: mangalamglobal.rights@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Company Contact Information
Mangalam Global Enterprise Limited
101, Mangalam Corporate House
, 42, Shrimali Society, Netaji Marg
Mithakhali, Navrangpura, Ahmedabad-380009
Phone: +91 79 61615000
Email: cs@groupmangalam.com
Website: http://www.groupmangalam.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
