Mandeep Auto Industries IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Mandeep Auto Industries Limited IPO GMP

Mandeep Auto Industries is set to launch its initial public offering (IPO) with a fixed price issue of Rs 25.25 crores, offering 37.68 lakh fresh shares. Subscriptions for the IPO open on May 13, 2024, and close on May 15, 2024, with allotments expected to be finalized by May 16, 2024.

The IPO is priced at ₹67 per share, with a minimum lot size of 2000 shares requiring an investment of ₹134,000 for retail investors and 2 lots (4,000 shares) amounting to ₹268,000 for HNIs. The listing is slated for May 21, 2024, on NSE SME.

Jawa Capital Services Private Limited serves as the book running lead manager, while Cameo Corporate Services Limited acts as the registrar. Aftertrade Broking is appointed as the market maker for the Mandeep Auto Industries IPO.

The objects of the present issue of Equity Shares are:

Expansion of the existing Manufacturing Facility located at Plot No 26, Nangla, Faridabad Haryana - 121001 by construction of the building on the land adjacent to our existing manufacturing unit, purchase of equipment/machineries, etc.
Repayment/prepayment of certain borrowings availed by Company.
Funding working capital requirements.
General Corporate Purpose.

With a view to expand production capacity, company intend to utilize Rs. 908.31 Lakhs from the Net Proceeds to expand existing manufacturing facility by construction of the building, purchase of equipment/machineries, other assets etc.