Manglam Infra IPO Sees Skyrocketing Demand on Day 2: Check GMP, Subscription Status, and Key Details

Manglam Infra and Engineering Ltd, a company providing infrastructure and project management services, launched its IPO on July 24. The IPO has been in high demand and will close on July 26.

Manglam Infra and Engineering IPO Subscription Status

As of 2:05 pm, the IPO has been subscribed 32.95 times in total. This includes:

• Retail category: 54.09 times
• Qualified Institutional Buyers (QIB): 1.32 times
• Non-Institutional Investors (NII): 25.74 times

Manglam Infra IPO GMP

The current grey market premium (GMP) for Manglam Infra shares is ₹46 per share. This suggests that shares are trading at ₹102 each in the grey market, an 82.14% premium over the issue price of ₹56 per share.

Manglam Infra and Engineering IPO Details

• IPO Subscription Period: July 24 – July 26
• IPO Allotment Date: July 29
• IPO Listing Date: July 31 on NSE SME
• Price Band: ₹53 – 56 per share
• Lot Size: 2,000 shares
• Minimum Investment: ₹112,000
• Total Amount to be Raised: ₹27.62 crore from 49.32 lakh equity shares (fresh issue)

Company Information

Manglam Infra and Engineering Ltd offers design, engineering, procurement, construction, and integrated project management services. The company’s promoters are Yogendra Kumar Singh, Ajay Verma, Nisha Singh, and Seema Verma.

Financials

• FY24: Net profit of ₹6.76 crore, revenue of ₹40.50 crore
• FY23: Net profit of ₹5.54 crore, revenue of ₹34.78 crore

Unistone Capital Pvt Ltd is managing the IPO, with Bigshare Services Pvt Ltd serving as the IPO registrar.