Mangalam Alloys Ltd IPO Timeline

Mangalam Alloys Ltd IPO opens on 21-Sep-2023, and closes on 25-Sep-2023. The Mangalam Alloys Ltd IPO bid date is from 21-Sep-2023 to 25-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Mangalam Alloys Ltd IPO Opening Date 21-Sep-2023
Mangalam Alloys Ltd IPO Closing Date 25-Sep-2023
Basis of Allotment 29-Sep-2023
Initiation of Refunds 30-Sep-2023
Credit of Shares to Demat 03-Oct-2023
Mangalam Alloys Ltd IPO Listing Date 04-Oct-2023

Mangalam Alloys Ltd IPO Lot Size

Mangalam Alloys Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 128000).

Application Lots Shares Amount
Minimum 1 1600 ₹128000
Maximum 1 1600 ₹128000

Mangalam Alloys Ltd IPO Details

Mangalam Alloys Ltd IPO Date 21-Sep-2023 to 25-Sep-2023
Mangalam Alloys Ltd IPO Face Value Shares of ₹10 per share
Mangalam Alloys Ltd IPO Price ₹80 per share
Mangalam Alloys Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹54.91 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹49.01 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹5.9 Cr)
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Uttamchand Chandanmal Mehta, Tushar Uttamchand Mehta, Meghjyoti Impex Pvt Ltd.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Working capital requirement
  • 2 Capital expenditure for business and research & development
  • 3 General corporate purposes

Company Financials

Mangalam Alloys Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 390.23 305.56 11.47
03-2023 332.02 308.18 10.13
03-2022 300.67 309.74 5.05
Amount in ₹ Crore
  • Experienced promoters.
  • Seasoned management team having domain knowledge to scale up and expand into new opportunities.
  • Wide portfolio of products addressing the needs of varied customers across the industry.
  • State of art manufacturing capability.
  • Consistent focus on quality.
  • The company business involves usage of manpower and any unavailability of its employees or shortage of contract labour or any strikes, work stoppages, increased wage demands by workmen or changes in regulations governing contractual labour may have an adverse impact on its cash flows and results of operations.
  • Any failure to maintain quality control systems for its goods could have a material adverse effect on the company business, reputation, results of operations and financial condition.
  • The shortage or non-availability of power facilities may adversely affect its manufacturing process and have an adverse impact on the company results of operations and financial condition.
  • Any significant decline in the demand for its products or introduction of alternative technology or consumer habits may adversely affect its profitability and business prospects.
  • The rate of interest for the loans obtained by it from the bank is variable and any increase in interest rates may adversely affect its results of operations and financial condition.
  • Volatility in the demand and pricing of stainless steel industry is sensitive to the nature of the Industries it serves. Any decrease in steel prices may have an adverse effect on its business, financial condition and results of operations.
  • The company do not generally enter into agreements with its raw material suppliers or traded goods suppliers. Any disruption in supplies from them may adversely affect its production process.
  • The company are dependent upon few suppliers for its raw material for the company current manufacturing facilities. In an eventuality where its suppliers are unable to deliver the company the required materials in a time-bound manner it may have a material adverse effect on its business operations and profitability.
  • The company manufacturing operations are critical to its business and any shutdown of the company manufacturing facilities may have an adverse effect on its business, results of operations and financial condition.
  • Underutilization of capacity of its additional manufacturing facility may adversely affect the company business, results of operations and financial condition.
  • The company may not purchase Machineries from dealers/Suppliers mentioned in this Draft Prospectus.
  • Activities involving its manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at any of its manufacturing facilities may adversely affect the company production schedules, costs, sales and ability to meet customer demand.
  • The Company is subject to stringent health and safety legislations.
  • The company require high working capital for its smooth day to day operations of business and any discontinuance or the company inability to procure adequate working capital timely and on favourable terms may have an adverse effect on its operations, profitability and growth prospects.
  • The industry segments in which its operate being fragmented, the company face competition from other players, which may affect its business operations and financial conditions.
  • The company Registered Office and factory from where its operate are not owned by it. If the company is required to vacate the same, due to any reason whatsoever, it may adversely affect its business operations.
  • The company lenders have charge over its movable and immovable and Directors immovable properties in respect of finance availed by it.
  • The company lenders have imposed certain restrictive conditions on it under the company financing arrangements. Under its financing arrangements, the company is required to obtain the prior, written lender consent for, among other matters, changes in its capital structure, formulate a scheme of amalgamation or reconstruction and entering into any other borrowing arrangement. Further, the company is required to maintain certain financial ratios.
  • The company operations may be adversely affected in case of industrial accidents at any of its production facilities.
  • The Company is dependent on third party transportation providers for the delivery of its goods and any disruption in their operations or a decrease in the quality of their services could affect the Company's reputation and results of operations.
  • There is no monitoring agency appointed by the Company and deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
  • The Company has taken Secured loans from various banks and financial institution wherein its Promoters are co-applicant. Further, the company Promoters may have given personal guarantees in relation to loan facilities provided to the Company.
  • The company have not made any alternate arrangements for meeting its capital requirements for the Objects of the issue. Further its have not identified any alternate source of financing the "Objects of the Issue". Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • The Company have availed insurance for Workers, Plant & Machineries, Building, vehicles etc. Its Insurance cover may be inadequate to protect the company fully from all losses and damages which in turn would adversely affect its financial condition and results of operations.
  • The company have not received "No Objection Certificate" from few lenders of secured loans to the company.
  • The company have entered into certain related party transactions and may continue to do so.
  • The company require certain statutory and regulatory approvals, registrations and licenses for its business & proposed premises and the company inability to renew or maintain its statutory and regulatory permits and approvals required to operate its business would adversely affect the company operations and profitability.
  • The company Directors and Promoters are not involved and may in the future, be involved in certain legal proceedings, which, if determined adversely, may adversely affect its business and financial condition.
  • The company Board of Directors and management may change its operating policies and strategies without prior notice or shareholder approval.
  • Changes in technology may impact its business by making the company products or services less competitive or obsolete or require it to incur additional capital expenditures.
  • The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • The Company has delayed in complying with certain statutory provisions under various laws. Such delayed compliance /lapses may attract certain penalties.
  • The company do not have access to records and data pertaining to certain historical legal and secretarial information in relation to certain disclosures.
  • Some of its agreements may be inadequately stamped or may not have been registered as a result of which the company operations may be adversely affected.
  • The company is dependent on its Promoters, management team, a number of Key Managerial Personnel and persons with technical expertise and the loss of or its inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
  • General economic and market conditions in India and globally could have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank or financial institution or lead manager or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • There are certain outstanding legal proceedings pending against the Company and Directors. Any adverse outcome in any of these proceedings may adversely affect its profitability and reputation and may have an adverse effect on the company results of operations and financial condition.
  • Major fraud, lapses of internal control or system failures could adversely impact the company's business.
  • The company face intense competition in its businesses, which may limit its growth and prospects. The Company faces significant competition from other companies.
  • The LM has relied on declarations, undertakings and affidavits for some of the Directors, Promoter and KMPs to include their details in this Draft Prospectus.
  • Industry information included in this Draft Prospectus has been derived from publicly available industry reports and/or websites. There can be no assurance that such third-party statistical financial and other industry information is either complete or accurate.
  • The company inability to manage growth could disrupt its business and reduce the company profitability. Its propose to expand it business activities in coming financial years.
  • If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
  • Delays or defaults in payments from its clients could result into a constraint on the company cash flows. The efficiency and growth of its business depends on timely payments received from the company clients.
  • The continuing impact of the COVID-19 pandemic on its business and operations is uncertain and it may be significant and continue to have an adverse effect on its business, operations and the company future financial performance.
  • The company have certain contingent liabilities which if materializes could adversely affect its financial condition.
  • The company inability to collect receivables and default in payment from its customers could result in the reduction of it profits and affect the company cash flows.
  • The company inability to identify and understand evolving industry trends and consumer preferences, and to provide new goods to meet its customers' demands may adversely affect the company business.
  • After the completion of the Issue, its Promoters along with the Promoter Group will continue to collectively hold substantial shareholding in the Company.
  • Certain Promoters and Directors are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
  • Any future acquisitions, joint ventures, partnerships, strategic alliances, tie-ups or investments could fail to achieve expected synergies and may disrupt its business and harm the results of operations and the company financial condition.
  • There are restrictions on daily/weekly/monthly movements in the price of the Equity Shares, which may adversely affect a shareholders' ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • The price of its Equity Shares may be volatile, or an active trading market for the company Equity Shares may not develop.
  • The Company's management will have flexibility in utilizing the Net Proceeds from the Issue. The deployment of the Net Proceeds from the Issue is not subject to any monitoring by any independent agency.
  • The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect its revenues and results of operations.
  • NABL certification of MAL quality control department.
  • Increasing the operations of R&D center.
  • Focus on value added products instead of low value added products.
  • Source Ingots from overseas.
  • The Company has strategy to hedge all currencies in export and import to avoid exchange fluctuation.
  • The Company is doing natural hedge of sales and purchase quantities.
  • The Company believes in customer satisfactions in terms of Quality and Delivery Commitment.
  • The Company believes in zero waste philosophy (as in Mother Nature there is no waste). Zero waste includes Zero solid waste (recycling 100%) and Zero liquid waste (recycle liquid discharge by STP).
  • The Company is continuously doing R&D on its products, process improvement and develop new grades. The Company has achieved in manufacturing of rare grades in its melting unit which are substitute of imports. The Company is continuously working on improving its process by minimizing cost i.e. indirectly generating revenue, which will increase its bottom line.
  • The Company is developing new markets such as Canada and United States of America.

Mangalam Alloys Ltd IPO Promoter Holding

Pre Issue Share Holding 70.65%
Post Issue Share Holding 53.11%

Mangalam Alloys Ltd IPO Subscription Status (Bidding Detail)

The Mangalam Alloys Ltd IPO is subscribed 5.3385 times on Sep 25, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 5.3385

Mangalam Alloys Ltd IPO Prospectus

Mangalam Alloys Ltd IPO Listing Date

Listing Date 04 Oct 23
BSE Script 37158
NSE Symbol MAL
Listing In NSE - SME
ISIN INE00C401011
IPO Price ₹80
Face Value ₹10

Mangalam Alloys Ltd IPO Registrar

Skyline Financial Services Pvt

Phone: +91 22 2851 1022;
Email: ipo@skylinerta.com
Website: www.skylinerta.com

Mangalam Alloys Ltd IPO Lead Manager(s)

  1. Expert Global Consultants Pvt Ltd

FAQs on Mangalam Alloys Ltd IPO

Mangalam Alloys Ltd IPO, which opens for subscription from 21-Sep-2023 to 25-Sep-2023 has an issue size of ₹54.91 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Mangalam Alloys Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Mangalam Alloys Ltd IPO Opens for subscription from 21-Sep-2023 to 25-Sep-2023.

The lot size of Mangalam Alloys Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹128000 and ₹128000 respectively.

Allotment date for Mangalam Alloys Ltd is 29-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 30-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 03-Oct-2023.

The registrar for Mangalam Alloys Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.

The shares of Mangalam Alloys Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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