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19 Nov 2024
Mangal Compusolution, a hardware rental solutions provider, is set to launch its initial public offering (IPO) on November 12, marking the third SME IPO this month after Neelam Linens and Garments, and Rosmerta Digital Services. The IPO features a fresh issue of 36.06 lakh shares, valued at ₹16.23 crore, with a fixed price of ₹45 per share and no offer-for-sale component.
The subscription period for the IPO will close on November 14, with the equity shares expected to begin trading on the BSE SME platform starting November 20.
Based in Mumbai, Mangal Compusolution specializes in renting and selling IT hardware equipment, offering comprehensive IT solutions tailored to client needs. The company generates 96.87% of its revenue from the Maharashtra region.
The proceeds from the IPO will be used to fund capital expenditures (₹12.96 crore) and for general corporate purposes (₹1.94 crore).
Half of the net issue is reserved for retail investors, while the remaining portion is allocated for institutional and non-institutional investors.
Jawa Capital Services is serving as the sole book running lead manager for the issue, with Kfin Technologies acting as the registrar.
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