The IPO allotment for Manglam Infra and Engineering is expected to be finalised today. Investors can check their allotment status through the registrar, Bigshare Services Pvt. Ltd. The IPO, which was open from July 24 to July 26, received an overwhelming response from all investor categories. The retail portion was subscribed to 370 times, the NII portion 752 times, and the QIB portion 163 times.
Due to the oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Manglam Infra and Engineering will start the refund process for the application money on July 30, 2024.
Allotted shares will be credited to investors’ demat accounts on the same day as the refund process. Manglam Infra and Engineering is an SME IPO, with shares scheduled to be listed on the NSE SME platform tentatively on July 31, 2024.
Overall, the IPO was subscribed to 394 times, receiving bids for 1,217,184,000 shares against the available 3,086,000 shares. The IPO size of Manglam Infra and Engineering was ₹27.62 crore, consisting of 49.32 lakh newly issued shares. The IPO price was set in the range of ₹53 to ₹56 per share.
Steps to check the Manglam Infra and Engineering IPO allotment status on the register’s website
If you have applied for the Manglam Infra and Engineering IPO, you can check your allotment status on the website of the IPO registrar.
Step 1: Use the Bigshare URL, https://ipo.bigshareonline.com/ipo_status.html to directly input your login details.
Step 2: From the list of firms, choose “Manglam Infra and Engineering IPO.”
Step 3: Opt for “PAN Number, Beneficiary ID, or Application No./CAF No.”
Step 4: Simply press “Search.”
You may view your Manglam Infra and Engineering IPO on your phone’s display or on a computer monitor.
About Manglam Infra And Engineering
The company is an infrastructure consulting firm, with its core business centered on providing project management consulting services. This includes preparing detailed project reports (DPRs), supervision and quality control (SQC), and operation and maintenance (O&M) for highways, roads, bridges, tunnels, and buildings/urban development projects.
The company undertakes various projects independently as well as through joint ventures and MoUs with other players in the industry. It caters to various state governments, including Madhya Pradesh, Jammu & Kashmir, Bihar, Arunachal Pradesh, Jharkhand, Himachal Pradesh, Uttar Pradesh, Manipur, Nagaland, Maharashtra, Assam, Rajasthan, Uttarakhand, and Haryana, as well as the central government.
In its DRHP report, the company stated that it has completed a total of 127 projects, with 116 undertaken independently and 11 through joint ventures and MoUs. Currently, it has 45 ongoing projects, with 22 being undertaken independently and 23 through joint ventures and MoUs.
Its order book, comprising anticipated revenues from the unexecuted portions of existing contracts (including signed contracts for which all pre-conditions to entry into force have been met and letters of acceptance issued by the client prior to execution of the final contract), as of May 31, 2024, was ₹78.91 crores, as per the DRHP report.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
