The Mangalam Industrial Finance date has been confirmed from February 12, 2024 – February 26, 2024.
Mangalam Industrial Finance Developers IPO is a fixed price issue of ₹48.94 Crores. Mangalam Industrial Finance Limited (MIFL), founded in 1983, is a non-banking financial company (NBFC) that offers financial solutions and services. It is registered with the RBI in Kolkata.
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Bidding Dates
Feb 12-26
Issue Size
₹48.94 Crores
Face Value
₹1 per share
Record Date
January 29, 2024
Mangalam Industrial Finance IPO GMP
The Mangalam Industrial Finance Record Date is January 29, 2024.
IPO Overview
Mangalam Industrial Finance Limited (MIFL), founded in 1983, is a non-banking financial company (NBFC) that offers financial solutions and services. It is registered with the RBI in Kolkata. MIFL provides loans for land, machinery, and sheds, and its revenue comes from interest, fees, and commission. As of December 31, 2023, the company employed 12 people, including directors.
Mangalam Industrial Finance Rights Issue Detail
| Issue Open | February 12, 2024 – February 26, 2024 |
| Security Name | Mangalam Industrial Finance Ltd |
| Issue Size (Shares) | 123,892,721 |
| Issue Size (Amount) | ₹48.94 Crores |
| Issue Price | ₹3.95 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.3.95 is payable on Application. |
| Entitlement | 21 Rights Equity Share(s) for every 163 fully paid-up Equity Shares held on Record Date |
Mangalam Industrial Finance Ltd Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28.66 | 34.71 | 32.30 |
| Revenue | 1.33 | 1.17 | 2.05 |
| Profit After Tax | -5.01 | 1.34 | 0.67 |
| Net Worth | 28.34 | 33.39 | 32.05 |
| Amount in ₹ Crore | |||
Mangalam Industrial Finance IPO Timeline
| Last Date to buy shares | January 25, 2024 |
| Record Date | January 29, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | February 12, 2024 |
| Renunciation of Rights Entitlements | February 20, 2024 |
| Bid/Offer Closes On | February 26, 2024 |
| Deemed Date of Allotment | March 6, 2024 |
| Credit Date | March 11, 2024 |
| Listing Date | March 13, 2024 |
Company Profile
Objects of the Issue:
The company proposes to utilize the Net Proceeds towards funding the following Objects:
- To augment the capital base and provide for the fund requirements for increasing the operational scale of its NBFC activities; and
- General Corporate Purposes.
Registrar Info
| Name | Purva Sharegistry India Pvt Ltd |
| Phone number | +91-022-23018261/ 23016761 |
| Email ID | newissue@purvashare.com |
| Website | purvashare.com |
Contact Details
| Name | Mangalam Industrial Finance Ltd |
| Phone number | +91 7203948909 |
| Email ID | compliance@miflindia.com |
| Website | miflindia.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
